Amaya's Ongame Poker Network Secures Golden Palace Deal

Published Friday, December 07, 2012 -

There is little doubt in the minds of investors and analysts that Amaya Gaming from Quebec Canada is making some stellar moves in the online gambling sector. The company recently acquired the Ongame poker network and has already signed a number of operators to participate in the venerable network. The Ongame Poker Network is currently the fifth largest online poker network in the poker room market. The network is split into an international online poker network that is available in various unregulated markets and various "sub-networks" that operate in regulated markets such as Italy, France and Spain. There are 19 distinct online gambling operators which are participating in the network collectively owning 25 distinct online poker skins. Some of the largest operators operating in the Ongame network are, Betsafe, Betsson and Betfair.

Now the online gambling operator Golden Palace Group located in Belgium has selected the Ongame network as the platform for its mobile applications. Analysts are saying the acquisition of the Ongame network could be the right stepping stone for Amaya should online poker become legal in America. The prediction is the stock for the Canadian tech firm will increase way past projections and that the company is considered a good purchase.

Amaya also accepted a deal with the Mohegan Sun - a casino operated by the Mohegan Tribe of Connecticut which will see Amaya provide its services with its Ongame Network. Mohegan's management said, “it chose Ongame based on the company's regulatory experience, and technology flexibility to offer play-for-free and money games, pending legislative approvals. “

Amaya saw an increase with third quarter revenue of $18.3 million. The growth is attributed to acquisitions and organic growth of the firm. The acquisition from digital entertainment cost Amaya €15 million with an additional payment of €10m just in case online poker becomes regulated in the USA.

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