Zynga Could Purchase Ongame Poker


07/06/2012
By Maria McCoyGoogle
Reports throughout the online casino games industry are naming Facebook social gaming company Zynga as a frontrunner for the purchase of Ongame Poker Network. Last week, the highly anticipated deal between Shuffle Master and Ongame fell through, leaving the space open for opportunity. Bwin.party owns Ongame and has been trying to sell the company because it considers it a “surplus asset.”  
 
Considered one of the best online casinos in the world, Ongame is the fifth largest online poker room in the world and hosts Betfair and bwin among others.
 
Shuffle Master and Ongame has come to a tentative agreement in which Shuffle Master would purchase Ongame for €19.5 million and pay an additional €10 million if online casino games become legal in the United States within the next five years.
 
The agreement fell apart when Shuffle Master CEO Gavin Issacs stated last week, “It has become evident to us that Ongame’s operations post-acquisition will not achieve the near-term results we initially expected and will require a larger ongoing investment than anticipated.”
 
Zynga has faced ups and downs on the stock market, leaving some investors wondering if the company can evolve from a social gaming Facebook brand into a full online casino games company. Purchasing Ongame Network may be the right step for the popular company and could assert its position in the real-money online gambling industry in the United States.

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