Amaya has announced the sale of two subsidiaries to NYX Gaming Group Limited, going two brands that the web gaming parent had previously purchased in smaller deals in the years before its acquisition that is massive of plus the Rational Group.

The deal cost NYX CAD$150 million ($123 million), but additionally includes some guarantees that Amaya will carry on to use at minimum some products from these brands within the full years into the future.

In the offer, the Canadian-based Amaya has guaranteed that it will pay a minimum of $12 million to utilize games now owned by NYX yearly for at least the next three years on PokerStars and Full Tilt, component of a six-year contract to make use of the Chartwell and Cryptologic products.

High Price Includes Guarantee of Games Getting Used by Amaya

The price that is high these assets has come as a shock with a, considering that Amaya purchased them for less in recent years.

In 2011, Amaya made the acquisition of Chartwell for CAD$22.8 million ($18.7 million). Which was followed by a deal that is higher-profile purchase Cryptologic, during the time a leading provider of online casino games, for CAD$35.8 million ($29.4 million) in 2012.

In enough time since then, neither of these brands happens to be a focus that is particular Amaya. A few of the obtained products were purchased to be found in smaller jurisdictions that required operations that are online to provide lottery products within the Web.

But deals in countries such as for example Kenya never materialized plus the company had hoped, and neither Chartwell nor Cryptologic products have already been a big element of amaya’s offerings, particularly since the Rational Group takeover.

November NYX, however, appears to be excited for the deal, one that the company has been anticipating as a possibility ever since purchasing Ongame from Amaya last. Now NYX hopes that being partnered with PokerStars’ emerging casino services and products can bring the brand benefits that are long-term.

‘As part of our agreement to get Ongame we negotiated a right of first offer to purchase the Cryptologic and Chartwell business as we saw it as very strategic to your existing business,’ said NYX CEO Matt Davey. ‘the strategy is completed by this transaction we embarked upon with Ongame. We think there to be always a significant growth opportunity in the PokerStars and Full Tilt casino offering, which we anticipate benefiting from as part of our licensing contract with Amaya.’

Deal Gives NYX Access to Larger Client Base

There is certainly reason for optimism from NYX. In the past few years, Cryptologic and Chartwell have not been creating many games that are new their casino clients, likely due to the fact that Amaya was focusing its energies on further purchases, many particularly the Rational Group.

Before then, Cryptologic was known for producing quality games, and there clearly was no explanation to think that it cannot start doing so again for NYX.

That move will allow NYX to also offer games up to a much wider number of online gambling sites. While NYX currently includes a client base mostly made up of smaller internet sites, Cryptologic in particular provides software for some larger clients, including sites like Mr. Green, InterCasino, and some connected with major gambling brands like Caesars, Ladbrokes, and Paddy energy.

For Amaya, the move will assist streamline the organization’s operations, a target that CEO David Baazov has undertaken since the acquisition of the Rational Group properties.

‘we have been pleased to further deepen NYX as a strategic partner to our relationship and provider to our B2C online casino operations,’ Baazov stated. ‘The Transaction is consistent with this stated strategy of divesting our non-core B2B assets, while still giving us the ability to offer popular games and new and innovative titles on a basis that is regular Chartwell, Cryptologic and now NYX.’