Gamynia Aquires WPT Assets
August 4, 2021

Gamynia Limited, a privately held investment group with substantial and diverse holdings, has agreed to acquire most of World Poker Tour Enterprises' (WPTE) operating assets with the exception of some cash, investments and various lesser excluded assets, according to recent press releases from both companies.  In exchange, Gamynia will pay WPT Enterprises $9,075,000, along with a percentage of future revenues derived from the World Poker Tour and Professional Poker Tour brands.

With the approval of the acquisition- which seems to be well on course with at least 39% of the common stock representatives already committed to voting in the affirmative, Gamynia will own the entire WPT television library and all related intellectual property rights, brand names, trade names, certain assumed contracts and tangible personal property.  For their part, WPT Enterprises will retain certain rights to investments, cash and cash equivalents and future foreign sponsorship revenues from the sponsorship of Seasons Four, Five and Six of the World Poker Tour, along with Season One of the Professional Poker Tour.  WPTE will also continue to secure revenues from the license of WPT Season Seven to PokerStars.

The net proceeds from the $9 million dollar sale at this time are expected to be retained by WPTE and will reportedly be used to invest in or acquire a non-poker related business.

Gamynia, a company which possess "highly complimentary resources" for the WPT, according to a statement from WPT President and CEO Steve Lipscomb, will under this agreement continue all of the Company's current operations including the television, sponsorship, distribution and licensing units, and will be obliged to enter the online gaming market with help from Hardway Investments Ltd., a company that specializes in online gaming and currently works with such well known clients as Titan Poker and Playtech.

Story by Mark Anderson

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