Unibet completed the acquisition of Bingo.com domain and its related European operations and customer base.
The $8 million total value deal will see Unibet pay $2 million in cash for the Bingo.com brand and operations.
Bingo.com Ltd will further gain a redemption of Unibet Plc shares in the company, which are valued at $6 million and will also change operating name to Shoal Games Ltd.
Jason Williams, Bingo.com Ltd CEO, stated that the company would solely focus on the development of its social gambling products.
“The online gambling industry as a whole is experiencing conditions of maturity where smaller firms are finding it increasingly difficult to compete. Bingo.com’s European gambling business, built with the www.bingo.com brand and URL, has therefore found it difficult to compete effectively with larger operators.” Williams said. “In response to these facts, the Bingo.com management team decided it was in the best interests of the Company to sell the online gambling business; the associated brand and URL and determined the offer negotiated with Unibet, the company’s own online gambling partner and technology provider, was fair and the best offer available to the company for those assets.”
NYX ADDS MOBILE SIT & GO TOURNEYS
Meanwhile, following the recent acquisition of Ongame Poker Network, NYX Gaming Group announced the addition of mobile Sit & Go tournaments to its NYX Poker product.
Mobile Sit & Go tournaments play on the regular network liquidity and are selected from a smooth interface and an easy navigated menu. The native apps works on phones and tablets. This new addition strengthens the already popular cash games and fast-fold poker offering.
“Having the ability to launch Sit & Go tournaments via our mobile and tablet poker products is an essential part of any poker offering. Both customer and player feedback has been great and we are looking forward to building on this latest release with new features and functionality,” said David Flynn, EVP Business Development for NYX Gaming Group.
“These games are now available for iOS mobile and tablet players in our .com, Danish, Belgian, UK and Italian facing products, with operators such as PAF, Pokerheaven, Best Poker and Interpoker. We are encouraged with the uptake and popularity of this game format as we continue to drive innovative features in the NYX Poker product,” Flynn added.