NYX Gaming Confirms Sale of Ongame Poker Network
Las Vegas-based online gaming supplier, NYX Gaming Group, has confirmed the sale of their Ongame poker network to an undisclosed buyer. The move comes shortly after they announced the acquisition of OpenBet for £270 million with a commercial deal and investment of £80 million from William Hill and £20 million from Skybet in support of the deal.
NYX made a deal on March 31, 2016 to divest Ongame’s assets, although they will retain an ownership percentage in the poker network. By divesting its assets, NYX will allow its executive team to focus exclusively on the sportsbook solution and core gaming offering that it obtained with the acquisition of OpenBet. NYX will retain access to the technology that will allow it offer poker products to customers in the North American market.
NYX acquired Ongame from Amaya in 2014 and although they have not revealed the name of the buyer or disclosed the amount it was sold for, Matt Davey, chief executive of NYX assured that the business was “now in the hands of a capable management team in Europe.”
Chief Corporate Development and Marketing Officer, Thomas Huw said that the details of the sale would be released in the near future. He confirmed that “a partner with proven experience in the industry will take on all costs, customer contracts and development for the poker product. NYX will retain both a significant share of the new business and exclusive rights to use the poker product across North America.”
The Ongame network had been underperforming and had shown a steady decline in the average number of real money ring game players over the past six months. The network is host to eighteen poker sites including Betsson, Betsafe and Redbet.
April 16, 2017