Shuffle Master Backs Out of Ongame Acquisition

Shuffle Master, a casino game developer operating in Las Vegas was reportedly in "advanced talks" in acquiring the Ongame Network, according to pokerfuse, but now negotiations fell short, and Shuffle Master declined the deal.

As pokerfuse reported, Shuffle Master has already been in advanced talks in purchasing the Ongame Network, that online poker network that is currently the home of poker rooms like Betfair, Betsson, bwin. The news was confirmed by the Sunday times, they reported that Shuffle Master was indeed in talks with bwin.party. The price of the Ongame Network is surprisingly low, only €16 million according to some predictions.

According to today's news, Shuffle Master no longer has interest in the US poker market via the Ongame Network, and has already backed out of the deal. However, there is no additional information on the reasons behind the breaking of the deal.

With this step, Ongame's assets are back to bwin.party's property, and are awaiting new buyers.

Bwin.party announced they are selling the Ongame Network in 2011, but it looks like they still haven't been able to sell it,

The parties have not yet issued a press release yet, but as new information surfaces, we'll let you know.