Amaya Closes Wagerlogic Sale

AMAYA CLOSES WAGERLOGIC SALE

12th February, 2014 at 15:43:00
Source: http://www.azonlinecasinos.com

Continue to power Inter-brands

Amaya Gaming Group has completed the previously announced sale of its WagerLogic Malta Holdings Ltd subsidiary (see previous reports) to Goldstar Acquisition co Inc. for $70 million, less a closing working capital adjustment of $7.5 million.

The deal was satisfied through a cash consideration of $52.5 million and a vendor take-back of a promissory note of $10 million, bearing interest of 6% per annum.

A further earn-out agreement is included in which Amaya may receive additional cash considerations based on the achievement of specified revenue targets.

Amaya said its subsidiaries will continue to provide WagerLogic's Inter-brands with software, services and content. The "Inter" brands comprise InterCasino, InterPoker and InterBingo.

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