Montreal-Based Amaya Gaming Could Purchase Ongame Network
There could be a brand new suitor for the Ongame Network, which current owner bwin.party is selling as a “surplus asset” ahead of the completion of its merger later this year. According to Pokerfuse, Montreal’s Amaya Gaming is a frontrunner for the Ongame Network.
The company already has ties to the gaming industry, according to the same poker news source: “Montreal-based Amaya, an entertainment solutions provider for the regulated gaming industry, is reportedly worth in excess of $300 million. The company lost $3 million in 2011 and has reported $7 million in losses already in 2012. But, the company did raise $103 million two months ago to purchase online casino games developer Cryptologic, which still left Amaya without a piece of online poker.”
Having a suite of brands that includes Cryptologic and Ongame could help Amaya forge ahead in the online gaming space. The company was founded eight years ago and bills itself as a “leading provider of technology-based gaming solutions to the regulated gaming industry. Amaya delivers market-leading solutions and services, with a steadfast commitment to the highest levels of integrity, responsibility, and transparency. An expansive global organization, present in North America, Latin America, Europe, and Asia, Amaya is an innovator in the gaming world.”
The Canadian company’s lineup of interactive games includes roulette, horse racing, and mahjong. It recently signed a three-year licensing agreement with Betfair to supply games to the Betfair Arcade.
In June, Shuffle Master backed out of purchasing the Ongame Network after citing European market conditions. Shuffle Master officials justified, “Business conditions in Europe have deteriorated since February and as a result, it has become evident to us that Ongame’s operations post-acquisition will not achieve the near-term results we initially expected and will require a larger ongoing investment than anticipated.”
Shuffle Master is based in Nevada and was recently granted a Nevada online poker license that allows it to supply its technology to casinos.
Other rumored suitors for the Ongame Network have included Zynga, GTECH, and Playtech. Zynga is a monster in the social gaming space and is closely aligned with Facebook. Its library of titles includes Zynga Poker, FarmVille, and Mafia Wars and it’s publicly traded in New York. GTECH operates the International Poker Network, while Playtech operates the iPoker Network. Both could amass a larger player pool by purchasing Ongame.
