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Canada – Amaya sells off Cryptologic and Chartwell

By - 10 April 2015

Amaya has agreed to sell its Chartwell Technology and Cryptologic Limited subsidiaries to NYX Gaming for $150m as Amaya puts into practice its plan to divest its various B2B assets and use the proceeds to pay down debt.

Amaya recently announced plans to spin off its subsidiary Diamond Game, and to sell its Cadillac Jack business to AGS, LLC, an affiliate of funds managed by Apollo Global Management, LLC (NYSE: APO), for $476m.

As part of the Transaction, a subsidiary of Amaya and NYX anticipate entering into a supplier licensing agreement for a term of six years, under which NYX will provide casino gaming content to Amaya’s real-money casino offering which Amaya intends to integrate into the PokerStars and Full Tilt branded casino websites. Pursuant to the Licensing Agreement, a subsidiary of Amaya will provide NYX with a minimum license commitment in the amount of $12m per year for each of the first three years of the Licensing Agreement.

“We are pleased to further deepen our relationship with NYX as a strategic partner and supplier to our B2C online casino operations,” said David Baazov, CEO of Amaya. “The Transaction is consistent with our stated strategy of divesting our non-core B2B assets, while still giving us the ability to offer popular games and new and innovative titles on a regular basis from Chartwell, Cryptologic and now NYX.”

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