Online Gaming Group bwin.party Sells Poker Network Ongame To Amaya For Up To $32.2M

Canada's Amaya Gaming is to buy bwin.party's B2B poker network Ongame in a deal worth up to ?25 million ($32.2 million). An initial payment of ?15 million ($19.3 million) is payable in cash on completion -- expected during the fourth quarter of 2012 but subject to standard conditions including regulatory approval. Additional payments of up to ?10 million ($12.9 million) become payable if regulated online gaming arrives in the U.S. in the next five years.

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