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MAJOR ONLINE POKER NETWORK MAY BE SOLD OFF
Posted 2/8/11 : Media speculation that Ongame may be put on the market confirmed
Creating something of a stir Tuesday, the Bloomberg business news agency reported that the merger between Party Gaming plc and Bwin Interactive could result in the online poker network and software developer Ongame being sold off.
The report was later confirmed by an unnamed Bwin spokesperson, who said that the respected online poker company may be sold either lock, stock and barrel or offered to strategic partners, as it could be regarded as a 'surplus asset' once the poker platforms of the merger principals were rationalised.
The spokesperson stressed that there was no immediate urgency for such a sale.
Ongame was acquired by Bwin in 2005 for Euro 475 million, but the acquisition was followed by the drastic impact in late 2006 of the passage of the Unlawful Internet Gambling Enforcement Act, which resulted in many top internet gambling companies - Bwin among them - exiting the US.
The merger partners could play a waiting game, given the possibility of a higher sales price if the US market continues to show promise for legalisation initiatives,
“We understand that the American gaming industry wants online poker regulated, as they want access to that revenue stream," the spokesperson noted. "Regulatory developments in the US would raise interest in these assets. But we haven’t yet established any firm deadline, and will look at all options.”
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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