NEWSBRIEF
BY MARKANDERSON
PartyGaming To Purchase World Poker Tour
August 25, 2021

Ever since it was first made public that the previously announced acquisition of World Poker Tour Enterprises (WPTE) by Gamynia LTD for a little over $9,000,000 was being put on hold due to an unspecified "alternative acquisition proposal," the poker media world has been waiting anxiously to discover just who the new player may be in this unexpected high stakes game being played out on Wall Street. 

Yesterday, after an official WPT Enterprises announcement, we were finally given our answer and it turns out the "new player" in the game is actually one of the World Poker Tour's oldest friends- PartyGaming, the company behind PartyPoker, who've agreed to acquire all of the operating assets of WPT Enterprises, Inc., other than cash, investments, and certain other specified assets, for $12.3 million and a 5% participation in future revenues generated from gaming and other opportunities created through the use of its assets.

"PartyGaming 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, President and CEO of WPT Enterprises. "The Board of Directors has determined that PartyGaming's acquisition proposal is financially superior and we look forward to working with one of the pioneers and leaders in the poker and online gaming markets to provide a strong vehicle for the WPT brand to continue its global expansion and return to online gaming."

Peerless Media LTD, a subsidiary of PartyGaming, will be the hands-on company acquiring the WPT's expansive television library, brand names, trade names and other intellectual property rights- assuming the deal is accepted by a majority of WPTE shareholders- and is expected to complete the transaction process sometime during the 2009 fourth business quarter.


Story by Mark Anderson

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