Thursday February 13,2014 : AMAYA CLOSES WAGERLOGIC SALE (Update)
Continue to power Inter-brands
Amaya Gaming Group has completed the previously announced sale of its WagerLogic Malta Holdings Ltd subsidiary to Goldstar Acquisition co Inc. for $70 million, less a closing working capital adjustment of $7.5 million.
The deal was satisfied through a cash consideration of $52.5 million and a vendor take-back of a promissory note of $10 million, bearing interest of 6 percent per annum.
A further earn-out agreement is included in which Amaya may receive additional cash considerations based on the achievement of specified revenue targets.
Amaya said its subsidiaries will continue to provide WagerLogic's Inter-brands with software, services and content. The "Inter" brands comprise InterCasino, InterPoker and InterBingo.