Bwin Poker Sells ‘Ongame” – But The Deal Folds

Just as in both love and war, things often don’t go smoothly in business. Now earning expectations of Bwin Poker are down after the sale of ‘Ongame' fell through. Ongame is the online poker network (B2B) poker software provider)owned and developed by the Bwin gambling brand. It is believed to be one of the best poker networks on the net. 

Big brand gambling names such as Betfair, Betsson, Unibet, Paf and others operate on this platform.  

The deal worth as much as €29.5 million, has seen Bwin in talks with Shuffle Master since March of this year. Both parties have apparently agreed not to pursue it any further, and Bwin shares have dropped by 3% since news of the deal-breaker was announced. Although sale of so-called ‘surplus’ assets is part of the core future strategy for Bwin, they obviously want the best price and are already entering into talks with other interested parties.

One of the reasons for online poker and gambling software suppliers ridding themselves of B2B products, is the fact that this type of business may be hampered for growth due to conflict of interest scenarios. In other word, Bwin, supplying poker software to competitors may not attract as much interest in the product as they would like it to do. Analyst do however believed that Bwin is selling an attractive product. The belief is also that a US-based firm, with an eye to moving online, may be the best buyer for the B2B concern.

On top of the deal falling through, Bwinparty have warned that the establishment of sports-betting tax in Germany will also hurt their full-year figures. Not that this company is exactly on the poverty line, but they do receive the majority of their business from a German-facing audience. Last year Bwin merged with Party gaming to form one of the largest – publicly owned – online gambling brands in the world.

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