2012-10-01 amaya gaming buys ongame from bwin.party

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  • 7/28/2019 2012-10-01 Amaya Gaming Buys Ongame from bwin.party

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    Amaya Gaming Buys Ongame from bwin.party

    Sale of Ongame, a leading B2B online poker network, to Amaya Gaming for up to 25.0million on a cash-free and debt-free basis

    Initial consideration of 15.0 million payable in cash on completion expected during thefourth quarter of 2012

    Additional payments of up to 10.0 million, will become payable if there is regulatedonline gaming in the United States within the next five years

    Completion is subject to the standard conditions for a transaction of this type, includingregulatory approvals

    bwin.party today announces that it has agreed to sell Ongame, its business-to-business (B2B)

    online poker network, to Amaya Gaming Group Inc. (Amaya Gaming) for a total cashconsideration of up to 25.0 million.

    Contingent consideration will become payable by Amaya Gaming if there is regulated online

    gaming in the United States within five years of completion. The exact amount of the contingentconsideration will depend upon the extent of the regulation based upon the number of states that

    regulate and the total population covered.

    The transaction is subject to the normal terms and conditions for a transaction of this type as wellas certain regulatory approvals and is expected to complete during the fourth quarter of 2012.The management of Ongame will transfer with the business and the net sale proceeds will be

    used by bwin.party for general corporate purposes.

    About Ongame

    Ongame Network Ltd (Ongame) is one of the worlds largest B2B poker providers. The global

    network includes 25 of the e-gaming industrys strongest brands that are owned by a total of 19operators. Ongame also operates regional networks in France and Italy. The company offers bothoperators and their players a wide variety of cash games and tournaments to choose from.

    Further information about Ongame can be found at www.ongame.com.

    The sale of Ongame conforms to our strategy, especially as we move closer to launching oursingle, proprietary technology platform in the next few months. We believe Ongame will fit well

    into Amaya Gaming and has an excellent future ahead.

    Jim Ryan and Norbert Teufelberger, the Co-CEOs of bwin.party

    The acquisition of Ongame bolsters Amaya Gamings product portfolio, transforming Amayainto a leading provider of gaming platforms. Amaya looks forward to unleashing Ongamestechnology to its full potential through the leveraging of our many B2B relationships and

    delivering new partners and players to the network. The Ongame platform is scalable, proven

    and secure and is well suited for quick deployment in new regulated markets. Were excitedabout the wide range of opportunities this acquisition makes possible for us as we execute on our

    vision.

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    David Baazov, Chief Executive Officer of Amaya Gaming

    Contacts:

    bwin.party digital entertainment plc

    Investors: Peter Reynolds +44 (0) 20 7337 0100

    Media: John Shepherd +44 (0) 20 7337 0100

    About bwin.party

    bwin.party digital entertainment plc (LSE: BPTY) is a global online gaming company, formed

    from the merger of bwin Interactive Entertainment AG and PartyGaming Plc on 31 March 2011.

    Incorporated, licensed and regulated in Gibraltar, the Group also has licences in France, Italy,

    Spain and Denmark. With offices in Europe, India, Israel and the US, the Group generated total

    pro forma revenue of 816.0m and pro forma Clean EBITDA of 199.3m in 2011. bwin.party

    commands leading market positions in each of its four key product verticals: online sports

    betting, poker, casino and bingo with some of the worlds biggest online gaming brandsincluding bwin, PartyPoker, PartyCasino and Foxy Bingo. The Groups scale, technology and

    strong portfolio of games collectively differentiate its customer offer from those of its

    competitors. bwin.party is a constituent member of the FTSE 250 Index and the FTSE4Good

    Index Series, which identifies companies that meet globally recognised corporate responsibility

    standards. For more information about bwin.party, please click here.

    About Amaya Gaming

    Founded in 2004, Amaya Gaming Group Inc. is a technology based gaming provider for the

    regulated gaming industry. An expansive global organization, present in North America, Latin

    America, Europe, Africa and Asia, Amaya is an innovator in the gaming world. Headquartered inMontreal, Canada, Amaya provides a host of services and solutions that range from: online and

    mobile gaming casino games and platforms, traditional and mobile lotteries, networked

    electronic gaming systems, hospitality in-room entertainment systems, management systems,

    content suites, advisory and management services, and integrity monitoring and auditing systems

    for the regulated gaming markets. For more information please visit www.amayagaming.com or

    www.amayaonline.com.