Casino News: PartyGaming purchases World Poker Tour

PartyGaming purchases World Poker Tour

 November 10, 2009, 11:27 am (8 years ago)
PartyGaming kept on getting ready for a possible comeback to the US gambling market with yesterday's acquirement of the World Poker Tour. The online casino operator paid $12.3 million for the WPT brand and assets.

PartyGaming attained the WPT name; the rights to events took place in the US and Europe, television programming of 150 hours yearly of poker competitions, and 16,500 subscribers previously paying for poker contributions.

Amongst the benefits for PartyGaming are the combining of the WPT brand, which was wanted by a number of other gaming operators, and the capability to keep land-based connections with PartyGaming's 12 million US punters it is not able to service online anymore.

PartyGaming Ceo Jim Ryan commented the agreement integrates “2 of the biggest brands in online and offline poker”.

PartyGaming committed to a revenue-sharing plan with WPT Enterprises, which is going to bring in the sellers payments of no less than $3 million throughout the next 3 years.

Mandalay Media tried a last-minute attack to stop the sale, offering $36 million for all of WPT Enterprises, but owners favored just the sale of assets to PartyGaming.
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