Shuffle Master Acquired Ongame Online Poker Network

Written by Alex N. on 2012-03-06 at 12:16
German gambling laws - GamingZion
The rumors are finally confirmed and the Shuffle Master Inc is the new owner of the popular online poker network Ongame.

The acquisition had been widely discussed in the international and Germany gambling news, and the Shuffle Master, renowned American land-based casino equipment firm, has finally publicly announced the purchase from Bwin.Party.

Ongame is one of the world’s most recognized online poker networks catering to a wide variety of operators including German gambling laws. The network consists of over twenty five premier online gaming brands and companies. Ongame also features regional French and Italian networks.

A spokesperson for Shuffle Master told media about how the acquisition follows the company’s strategy to expand its online gaming offerings capitalizing on regulated gambling operations under German gambling laws and in all other jurisdictions where online gambling is legal.

The spokesperson stressed that Shuffle Master will only focus on the B2B aspect of gambling and will not be providing any gambling content directly to players.

CEO at Shuffle Master, Gavin Isaacs, had the following to say: “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."

He went on to add: "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."

The transaction will see Shuffle Master fork over Bwin.Party Services GmbH EUR 19.5 million in cash, subject to certain changes at closing. Another EUR 10 million in cash within five years of closing may also be paid, depending upon the commencement of legalized online poker operations in United States within such period.

Managing director of Ongame, Peter Bertilsson, also commented the deal: "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.”

He finished off by saying: “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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