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PartyGaming buys World Poker Tour
PartyGaming has signalled its intention to return to the American market when legislation allows with the $12.3m (7.3m) purchase of the assets of poker tournament organiser WPT Enterprises.
The internet poker and casino operator completed the acquisition yesterday, gaining control of the World Poker Tour brand and other assets, despite a last-minute attempt by Los Angeles-based Mandalay Media to break up the deal.
Mandalay made an indicative $36.5m proposal for the whole of WPT Enterprises but it was rejected in favour of PartyGamings asset deal.
Aside from the brand, the deal brings PartyGaming the rights to land-based events in the US and Europe, 150 hours of poker programming, and 16,500 paying players for a subscription poker offering. A revenue-sharing deal will see PartyGaming pay at least $3m more over three years.
By Alistair Osborne
PartyGaming has signalled its intention to return to the American market when legislation allows with the $12.3m (7.3m) purchase of the assets of poker tournament organiser WPT Enterprises.
The internet poker and casino operator completed the acquisition yesterday, gaining control of the World Poker Tour brand and other assets, despite a last-minute attempt by Los Angeles-based Mandalay Media to break up the deal.
Mandalay made an indicative $36.5m proposal for the whole of WPT Enterprises but it was rejected in favour of PartyGamings asset deal.
Aside from the brand, the deal brings PartyGaming the rights to land-based events in the US and Europe, 150 hours of poker programming, and 16,500 paying players for a subscription poker offering. A revenue-sharing deal will see PartyGaming pay at least $3m more over three years.
By Alistair Osborne
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