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CasaGaming Selling Poker Assets To Igame
In a deal that the Entraction online poker network describes as a transition to being solely a supplier of products and services for internet gaming, the Entraction subsidiary Casagaming Limited has signed a Letter of Intent to sell its operations to iGame Ltd. The new owner of the Casagaming operates the successful gaming site Pokerihuone.com on Entraction's network.
Assets in the Casagaming portfolio include 24hPoker.com and Martinspoker.com, together with domains, customer registry and brands. The valuation of the assets is Euro 4.5 million, of which Entraction's share is Euro 2 565 000. Euro 285 000 of that amount is an earn-out to be paid out on 31 July 2010, provided that certain conditions are met.
Peter Åström, CEO of Entraction said: "The selling of the Casagaming operations is a milestone for Entraction and enables us to focus 100 percent on our supplier operation. In a time when many of our competitors are doing the opposite and have started to mix the roles of operator and supplier, Entraction's focus makes us both more attractive to new partners and more transparent to investors. I am certain that iGame Ltd will continue to successfully operate the sites on our network".
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Gambling News :
Pokerstars Bahamas Main and High Roller Results -
The inaugural PokerStars Championship Bahamas saw two big winners crowned this weekend when Christian Harder won the main event for $429,664 and Luc Greenwood took home $779,268 after taking down the $25,750 High Roller event.
High Hopes For Pennsylvania Online Gambling -
Pennsylvania state politicians have wasted no time in getting back to work in the new legislative season, and there is renewed hope for a gambling expansion bill that includes online gambling and daily fantasy sports.
NJ Warns No Federal Online Gambling Ban -
New Jersey Senator and gubernatorial candidate Raymond Lesniak warned that any attempt to overturn a 2011 Department of Justice opinion that the federal Wire Act exclusively governs sports betting would be met with a hard-nosed reaction from his state.
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