Tower Gaming recently partnered with Cake Network, an innovative online poker network operated by Cake Gaming NV. Tower Gaming had been a part of the Ongame Network for quite long. The former operates a casino, poker and sportsbook online. A 33% rakeback, the maximum that can be offered through Ongame Network, is its main attraction.
Reasons Behind the Partnership Unknown
An official announcement stating the reasons why Tower Gaming partnered with the Cake Network, has not yet been made. It is believed that the rake calculation method adopted by Ongame Network led Tower Gaming to take the decision. Ongame stated that through the new rake calculation method called, Essence, the company has been able to attract a large number of recreational players, which is its main customer base. There has been an 8% increase in the number of players gambling with Ongame since the introduction of the Essence.
Ongame’s Head Claims Essence is a Revolutionary Concept
The head of Ongame, Fredrik Kjell, stated that Essence is a revolutionary concept developed by his company. The concept is unique in the online poker industry. Rake is calculated through the dealt method by Essence.
Ongame put up for Sale
Owned by Bwin.Party Digital Entertainment, Ongame Network has been put up for sale. The sale is in progress. Bwin.Party was formed through a merger between Bwin and Party Gaming earlier this year. Ongame Network has been described by Bwin.Party as a ‘surplus asset’. Before the sale takes place, Bwin’s players will be transferred to Party Poker.
Bwin.Party Expects the Sale to be Completed by Year End
In a recent statement, Bwin.Party stated that one of the business strategies adopted by the company is to recycle its surplus assets. As a part of this strategy, Bwin.Party decided to put Ongame Network for sale. Formal procedures to sell business-to-business operations of Ongame have been initiated by Bwin.party already. Ongame, being one of the leading poker networks in the world, is expected to be sold soon. The arm plans to follow Entraction Network’s footsteps. The company was sold last month to International Game Technology through a €70 deal.
No Official Statement Made Regarding Tower Gaming’s Deal with Cake Network
An official statement has not been made by Tower Gaming or Cake Network ,regarding the partnership they have entered into. However, two tweets have been posted by Tower Gaming on Twitter regarding its shift from Ongame to Cake Network.
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