In a deal worth 7.5 million euros, NYX Gaming Group Limited has announced a partnership with PlanetWin365 parent company SKS365 to provide online poker and casino games to PlanetWin for at least the next five years. Among the changes as part of the deal will see PlanetWin365 poker migrate to NYX’s Ongame Network as early as the 4th quarter of this year.
In addition, NYX also acquired PlanetWin subsidiary eGaming Consulting, which supplied PlanetWin with gaming operations. The acquisition will transfer a team of 14 from eGaming Consulting to aid in NYX’s existing poker operations.
NYX acquired Ongame in November 2014 from Amaya Gaming to complement its bingo, lottery and casino solutions in Europe and the United States. Amaya Gaming is most well known as the owner of PokerStars and Full Tilt Poker.
Reaction to the Deal
Thomas Smallwood, CEO of SKS365, which operates the PlantetWin365 sportsbook, poker room and casino said the partnership puts SKS365 in a good position to succeed in markets markets. “NYX will be an important business partner of planetwin365 and we are delighted they have chosen us as a partner for growth in line with our commitment to nationally regulated environments.”
NYX CEO had similar sentiments in a statement saying that PlanetWin’s recent success makes them a worthy partner. “We are proud to have reached agreement with planetwin365, which operate an online sports book and gaming business that has shown impressive growth within the highly competitive gaming industry. This B2B deal and related acquisitions are important steps to meeting our commitment to shareholders to restructure Ongame and achieve cash flow breakeven for that division by the end of 2015 or early Q1 2016”
PlanetWin Leaving the More Popular Hive Poker
Once a top tier online poker network in the world, the Ongame Network, is now ranked 33rd according to PokerScout with 300 or 400 cash game players during peak times. The network is still home to some well-known poker rooms such as Betsafe, Interpoker, Paradise Poker, Redbet, RedKings and Whitebet. Ongame, which was referened as NYX Poker in an October 7th press release, is a small portion of NYX Gaming’s overall portfolio.
Despite the long history of Ongame, the poker network where PlanetWin365 currently makes their home, The Hive Poker Network, is one of the few new networks to emerge strongly over the last couple years. PokerScout currently ranks Hive 18th among poker networks, which is double the online poker traffic of the Ongame network.
Although PlanetWin365 runs a popular online poker room, the PlanetWin365 sportsbook is what the brand is most widely known for. At this time it is unknown how much liquidity PlanetWin brings to the Hive Network and the affect leaving will have on both networks.