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SHUFFLE MASTER ACQUIRES ONGAME POKER NETWORK

03/06/2012 : SHUFFLE MASTER ACQUIRES ONGAME POKER NETWORK (Update)
 
Rumour becomes fact with announcement from equipment supplier
 
Land gambling equipment supplier Shuffle Master Inc turned rumour into fact Monday with its announcement that it has inked an agreement to acquire the Ongame Poker Network from Bwin.Party digital entertainment.
 
The rumour that a deal was in the works has been circulating for the past month or more
 
Ongame is one of the world's largest poker providers to online gaming operators ("business-to-business" or "B2B"), with a global network that includes more than 25 of the i-gaming industry's strongest brands and operators, as well as regional networks in France and Italy, a press release from Shuffle Master claimed.
 
A company spokesman said that the acquisition progresses Shuffle Master's strategy of expanding its online product offerings to capitalise on regulated online gaming, while operating purely as a B2B provider and not providing gaming content directly to players.
 
Gavin Isaacs, chief executive officer of Shuffle Master commented: "Our acquisition of Ongame will allow Shuffle Master to offer a scalable, proven and secure solution for online poker.  Immediately upon closing the transaction, we will be able to begin leveraging all of Ongame's experience and expertise in i-gaming."
 
"I am confident that Ongame will fit into our ongoing interactive initiatives of delivering our brands to online gaming operators, partner web sites, social networks and mobile platforms. Poker is a natural fit for our table-centric online offerings and our many jurisdictional licenses present an opportunity for our current and future online customers."
 
Shuffle Master will pay Bwin.Party Services (Austria) GmbH Euro 19.5 million in cash, subject to certain adjustments at closing, and may pay up to Euro 10 million in cash within five years of closing, contingent upon the commencement of legalised, real-money online poker in the U.S. within such period.
 
The Euro 10 million contingent payment decreases through the five-year period.  Shuffle Master expects to fund the transaction with cash on hand or availability on its existing senior secured revolving credit facility.
 
Peter Bertilsson, managing director of Ongame said: "We believe that our experience and expertise in the European market is a natural fit with Shuffle Master's considerable commitment and history in developing innovative games and products for land based operators.  I am confident that together, our organizations are going to be able to develop the very best in new and innovative solutions for the i-gaming market."



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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.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

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.

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