PartyGaming Acquires World Poker Tour

PartyGaming Acquires World Poker Tour Enterprises -

PartyGaming said this week that it had offered a better deal to the World Poker Tour Enterprises over a recent acquisition deal signed with Gamynia, essentially acquiring WPTE brand rights and property for the sum of $12.3 million.

PartyGaming’s offer meant that WPTE terminated the deal with Gamynia, signed very recently, which would have paid the poker brand only $9.075 million.

PartyGaming will also reward WPTE with at least $3 million each year for a three year period. “Party Gaming has been an important partner for a number of years and we are confident that they will be an excellent manager of our brands in the future,” said Steve Lipscomb, CEO and president of the World Poker Tour.

Karma: 8 11