Montreal-based gaming firm Amaya Gaming has announced finalisation of a deal which sees its coveted Chartwell and Cryptologic software divisions being sold to multinational organisation NYX Gaming for the princely sum of C$150million.
The move is the finisher in a long line of moves intended to rid the Canadian company of all of its live business to business operations, probably a smart move given their huge increase in operations this past year with the purchase of PokerStars and Full Tilt.
Amaya’s software operations, which are to date responsible for more than 300 gaming titles were sold off in a 100% share deal to NYX in a deal that will see the already bulging NYX catalogue grow to contain in excess of 650 titles!
Also included in the deal was a preferred supplier license with a tenure of six years which will guarantee NYX as the top choice software provider for all of Amaya’s developments –of course including PokerStars and Full Tilt. What’s more, a pledge of a $12million per annum minimum has been signed over to firm, which has offices in Las Vegas, Stockholm and Sydney.
This deal, though the most lucrative between the two companies to date, isn’t their first. In November last year, Amaya sold off its Ongame poker network to NYX, at the same time taking on an ownership stake in the fast rising company worth $10million.
Other links between the groups extend beyond the virtual world and into the diamond studded streets of Atlantic City, New Jersey, where both parties have stakes in the Resorts Casino Hotel. Isn’t it wonderful to see two groups getting on so well in an industry where competitiveness so often dominates? Amaya seems unstoppable in its quest to become the biggest figure in the online gambling space where players win from Real money casinos.