PartyGaming continued to arrange for a potential return to the U.S. gambling market with yesterday's purchase of the sector Poker Tour. The web casino operator shelled out $12.3 million for the WPT brand and assets.PartyGaming acquired the WPT name, the rights to events held both within the US and Europe, television programming of 150 hours annually of poker tournaments, and 16,500 subscribers already purchasing po0ker offerings.
Among the benefits for PartyGaming are the mixing of the WPT brand, which was desired by several other gaming operators, and the facility to continue land-based connections with PartyGaming's 12 million US customers it not can service online.
PartyGaming Ceo Jim Ryan noted the deal combines “two of the most important brands in online and offline poker”.
PartyGaming committed to a revenue-sharing plan with WPT Enterprises, so that it will earn the sellers payments of no less than $3 million over the following three years.
Mandalay Media attempted a last-minute raid to dam the sale, offering $36 million for all of WPT Enterprises, but owners prferred just the sale of assets to PartyGaming.
Published on November 9, 2009 by PrestonLewis
Read More... [Source: Poker News]
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