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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.”
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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