SHFL Entertainment, Amaya sign online poker platform distribution agreement
The terms of a definitive agreement will include SHFL making up to a $10 million payment to Amaya for the exclusive rights granted. SHFL and Amaya will share all revenue equally and also split all direct U.S. operational expenses, such as hosting, hardware and licensing costs. Upon the execution of the definitive agreement, SHFL will pay Amaya $2 million and have the immediate ability to offer its businessâtoâbusiness customers AGP casino content and Ongame Poker for freeâtoâplay social casino, which is one of the fastest growing segments of online entertainment in North America.
Contingent upon regulated, realâmoney online poker commencing under either a Federal statute or in California, SHFL will pay Amaya an additional $8 million. Alternatively, if individual states commence regulated, realâmoney online poker before commencement of such play under either a Federal statute or such play becomes legalized in California, SHFL will pay up to an aggregate of $8 million on a prorated basis (based on population) as individual states commence regulated, realâmoney online poker. In the event the Federal government or California commences regulated, realâmoney online poker after any other state, SHFL will pay Amaya the difference between $8 million and the aggregate amount previously paid.
"With over 90 companies around the globe currently using its platforms, we believe that Amaya is a leader in the online gaming market and working with them will offer many mutual benefits," said Gavin Isaacs, SHFL's CEO. "We are confident that the integration of our renowned brands and content delivery technology into Amaya's full suite of cuttingâedge online platforms will create a turnkey solution for our customers. Together with our many U.S. gaming licenses, we believe we will be able to maximize the market presence of these platforms."
"Strategic alliances have always been an integral part of Amaya's strength and growth in key markets, and SHFL, with its reputation for gaming innovation and strong relationships in the U.S., is an ideal partner for us in the U.S. market," added David Baazov, CEO of Amaya. "Amaya expects to leverage those qualities by combining our technologies and expertise and putting forward a very compelling offering to U.S. operators wishing to extend their brand and operations online."