bwin.party is re-engaging with other third parties that have expressed an interest in acquiring Ongame. bwin.party will make a further announcement as and when appropriate.
bwin.party digital entertainment plc (BPTY.L: News ) said that the company and Shuffle Master (SHFL: News ) have mutually agreed not to proceed with the proposed transaction. This decision is further to the announcement on March 6, 2012 regarding the proposed sale of the group's Ongame poker network to Shuffle Master.
The sale of surplus assets, including Ongame, remains a core part of bwin.party's strategy.
A spokesperson for bwin.party said that Shuffle's withdrawal was over concerns on the general economic climate in Europe.
The company had entered into a definitive agreement to purchase the Ongame poker network back in March of this year for a total consideration of up to €29.5m, enabling it to keep up with rival US gaming suppliers who have also recently made moves to position themselves ahead of any opening of the US online gaming market.
Earlier this month it was selected by Bally and Aristocrat as one of their preferred poker solutions as part of their B2B online gaming solutions for US operators. It remains unclear at this time what Shuffle’s online gaming strategy will now rely upon.