Bwin.party completes sale on Ongame

Gaming group Bwin.party Digital Entertainment has has completed the sale of its Ongame online poker network to Amaya Gaming Group for 15m euro on a cash-free and debt-free basis.

Gaming group Bwin.party Digital Entertainment has has completed the sale of its Ongame online poker network to Amaya Gaming Group for 15m euro on a cash-free and debt-free basis.

An additional payments of 10m euro will made if there is regulated online gaming in the US within the next five years.

The exact amount of the contingent consideration will depend upon the extent of the regulation based upon the number of states that regulate and the total population covered, the firm said previously.

The proceeds from the sale will be used for general corporate purposes.

NR

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