Montreal-based casino solutions provider Amaya Gaming Group (TSX:V.AYA, StockForum) has signed a licensing agreement to expand operations and provide online casino gaming content to bwin.party (OTO:PYGMF, Stock Forum), a global leader in the online gaming world with brands including partypoker, bwin, PartyCasino and Foxy Bingo.
The deal is subject to applicable regulatory approvals.
According to the company's news release, “Under the Agreement, online gaming websites provided by bwin.party to its licensed gaming operator partner Borgata Hotel Casino & Spa in New Jersey will be integrated with Amaya's Casino Gaming System. The integration will provide players with access to an extensive selection of Amaya's proprietary and third-party online casino games."
Amaya also announced that bwin.party "will launch a range of Amaya's leading online gaming titles from its existing online gaming websites."
David Baazov, CEO of Amaya Gaming Group, illustrated future possibilities, “We look forward to leveraging our proven online casino content and bwin.party's strong reputation and partnerships to embrace the emerging but exciting online gaming market in the U.S. and the existing online gaming markets they serve.”
This is the second major deal Amaya has signed of late, after a late October announcement that they would supply content to Golden Nugget Casinos.
bwin.party has market leading positions in each of its four product verticals: poker, sports betting, casino and bingo.
Share value increased 5.8% to $7.84 per share upon the news.
Currently there are 93,453,751 outstanding shares, with a market cap of $727 million.