Gaming Industry Giant Amaya To Acquire Diamond GamesPublished June 18, 2013 by OCR Editor
A business deal designed to unlock the potential of both companies.
Amaya Gaming Group Inc. an entertainment solutions provider for the gaming industry, will pay US$25 million to purchase 100% of the equity of Diamond Game, a designer and manufacturer of gaming related products.
Diamond Game was established in 1994 and manufactures and services games and gaming systems for numerous North American gaming markets. Originally finding its success in the Native America casino market, it has since expanded into public gaming, race track, bingo and commercial casino markets.
Amaya Gaming provides a full array of gaming products and services. It maintains a worldwide presence in all major gaming markets with some of the world's largest gaming operators and casinos being powered by Amaya's online, mobile and land-based products.
As to what this means for both companies, Jim Breslo, President and Chief Executive Officer of Diamond Game put it best when he said, "The transaction unlocks the value for both companies by pairing our patented technology, innovative products and key contracts in the lottery segment with a well-capitalized entity in Amaya, which possesses a solid foundation of expertise throughout its organization as well as key relationships throughout the industry."
General consensus among industry analysts is that it is not surprising to see the CEO of Diamond Game Enterprises issuing such a positive statement, as this is a major merger and very good news for a small firm.
Amaya is considered by those in the know to currently be the top online gambling software developer and predict there will be even more online casino operators choosing Amaya to power their online gambling sites.