Shuffle Master and Ongame Deal Dropped

07/02/2012
By Tommie ClarkGoogle
Five months after the announcement in February that Shuffle Master Inc. planned to purchase Ongame Poker Ltd. from Bwin.party, the deal has fallen apart.
 
Shuffle Master, the top online casino game designer and supplier, stated that Ongame did not meet expected profits, causing it to re-examine the purchase. Each company published statements on their websites, citing a mutual decision to cancel the deal.
 
Shuffle Master is best known for creating automatic card shufflers, roulette chip sorter, video slot machines and electronic table game platforms.

Shuffle Master’s Chief Executive Officer, Gavin Isaacs said, “We remain ardent believers in the growth opportunities for online gaming and continue to focus intensely on the space.”

Bwin.party Digital has stated that they are moving in another direction now that the deal is off the table. The top rated online casino brand said that they are in talks with other interested parties and are exploring all possible avenues.

Shuffle Master’s decision to bow out of the deal was in part due to the fact that the market in Europe has suffered in the last few months and also because of the ambiguity over casino game online legislation in the US. As a result, Ongame was unable to achieve expected financial forecasts. Shuffle Master would have had to invest more money in the company, something they were not willing to do.
 
Louis Castle, Shuffle Master’s Chief Strategy Officer commented, “We are continuing to invest in our own state-of-the-art content platform, which capitalizes on our industry leading portfolio of Proprietary Table Games, and remain committed to serving our customers’ online needs.” 
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