Global gaming supplier Shuffle Master Inc. announced yesterday that it has officially reached a deal to obtain the Ongame Network from bwin.party for €19.5m. The deal will also pay “bwin” up to an additional €10m over a five year period following “the commencement of legalized, real-money online poker in the US.”
The Las Vegas-based table game and gambling equipment vendor said the transaction will allow the company to expand its online product offerings in regulated online gaming markets. In a statement, Shuffle Master said it would operate as a provider to Internet gaming companies.
Ongame Network is a subsidiary of bwin.party Services of Austria and is one of the world's largest poker providers to online gaming operators. Ongame's global network includes more than 25 brands and operators, such as bwin, Betfair, and Coral Poker, as well as regional networks in Denmark, France and Italy.
"The acquisition of Ongame will provide Shuffle Master with world class poker software and an entire enterprise with proven skills and the operational experience that will permit us to begin offering state-of-the-art B2B online products following the closing of the acquisition," Shuffle Master CSO, Louis Castle said in the press release.
Ongame network is currently ranked fifth for international poker networks on independent network tracking site PokerScout, and sixth overall.