NYX Gaming Group has divested its underperforming poker network Ongame for an undisclosed sum as the company looks to focus on its core gaming offering and the sportsbook solutions obtained through its acquisition of OpenBet.
The deal to divest Ongame’s assets was struck on March 31st, with NYX chief executive Matt Davey explaining that the company was “now in the hands of a capable management team in Europe.”
The news was revealed following the announcement of NYX’s £270m acquisition of OpenBet, with William Hill and SkyBet making investments of £80m and £20m in the supplier respectively.
NYX will retain an ownership percentage in Ongame, but by ridding itself of the assets its executive team will be able to focus on what drives top-line revenue growth for the company in future, Davey explained.
However NYX will still have access to the technology to deploy poker products for customers in the North American market.
While Davey described Ongame as “one of the best poker products in the industry” following his company’s acquisition of the business from Amaya in November 2014, the network has consistently incurred losses since.