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Amaya Gaming Group Incorporated has entered into a definitive agreement to purchase Diamond Game Enterprise, a North American games and systems designer, manufacturer and services company.
Amaya is continuing to grow through its acquisition strategy. In October it purchased Ongame Network Limited from bwin.party digital entertainment, in November it took control of Cadillac Jack Incorporated, while in April it obtained CryptoLogic Limited.
David Baazov, CEO for Amaya Gaming Group said: “Diamond Game Enterprises’ lottery technology will increase our lottery footprint in North America while anticipated to be accretive to adjusted earnings before interest, tax, depreciation and amortization.
“We see upside for its latest lottery product, the LT-3, which has already been placed in Maryland and Ontario and which Diamond Game Enterprises expects to be placed in new jurisdictions in the near future. Our extensive game library can be integrated with its lottery technology.”
Jim Breslo, President and CEO for Diamond Game Enterprises commented: “Diamond Game Enterprises’ sale to Amaya Gaming Group exemplifies the hard work and dedication of our management team and employees over the past 19 years, who have established Diamond Game Enterprises as an innovative supplier to the gaming industry.
“The transaction unlocks value for both companies by pairing our patented technology, innovative products and key contracts in the lottery segment with a well-capitalised entity in Amaya Gaming Group, which possesses a solid foundation of expertise throughout its organisation as well as key relationships throughout the industry. The transaction marks a significant milestone for us and a value-maximising opportunity for Diamond Game Enterprises’ shareholders that could not be overlooked by our board of directors.”
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