Amaya Inc. has completed the sale of its online gaming platform to NYX Gaming. Amaya acquired Chartwell Technology Inc. and Cryptologic Inc. in 2011 and 2012 respectively, forming the basis of the platform sale.
NYX now owns both Amaya subsidiaries for a price of C$150 million which includes $110m cash and $40m in shares. NYX will license back some of the gaming content to Amaya for use on their PokerStars and Full Tilt branded casino sites.
Chartwell launched in 1998 as one of the first Java then Flash based online gaming providers. They were also pioneers in 3D casino lobbies. Their B2B platform is what initially gave Amaya the power to provide gaming solutions to governments, land based casinos, and other providers. We currently have no indication of the NYX plans for the B2B leg.
Cryptologic was formed in 1995 primarily as a financial processor. A subsidiary, WagerLogic, licensed the company’s gaming software and other products including support services and payment processing solution, ECash. The first Cryptologic powered casino, Intercasino, came online in 1996. Interestingly nearly all, if not all games known over the years as “Cryptologic” were actually developed by Next Generation (later called NextGen) Gaming, who were acquired by NYX in late 2011.
Amaya spun off WagerLogic, selling it to Goldstar Acquisitionco Inc., in a transaction valued at $70 million in February 2014. This sale included all of Cryptologic’s consumer facing online gambling sites including InterCasino, InterPoker, and InterBingo. Goldstar listed John Fitzgerald, former compliance officer of Cryptologic since 2003, as an Executive Officer and Director.
The current, now completed acquisition was first announced on April 9, 2015 and is the result of NYX excercising a right-of-first-offer to acquire the B2B Business concurrent with Amaya’s sale of Ongame Network Ltd. to NYX in November, 2014.
July 2011: Amaya buys Chartwell Technology Inc. $22.8 million
April 2012: Amaya buys Crypto and subsidiaries including WagerLogic $35.8
Feb 2014: Amaya sells Wager Logic (Business to Consumer) $70 million
July 2015: Amaya sells Cryptologic (B2B) & Chartwell $150 million