PartyGaming Conclude Acquisition of World Poker Tour
PartyGaming the parent company of PartyPoker have today announced the completion of the purchase of the business and assets of WPT Enterprises Inc for a cash sum believed to be 12.4 million US dollars.
The purchase which is considered by many to be a strategical move by the online giant to prepare for re-entry into the American market in the eventuality of a repeal of the UIEGA will see the LSE listed company aqcuire some substantial and useful US marketing assests that include;
The World Poker Tour® brand, rights to a number of land-based events in the US and Europe and all other intellectual property rights associated with the World Poker Tour
An extensive library of over 150 hours of poker programming that is broadcast in more than 150 countries
The ClubWPT subscription poker offering that has more than 16,500 paying subscribers in 37 US states
Jim Ryan, PartyGaming Chief Executive Officer has this to say about the new deal “Our plans include using the ClubWPT subscription platform to leverage our 12 million-strong US player database via a Party-branded website and the launch of a European WPT-branded poker and casino site. We are excited about the opportunities that WPT, a proven marketing channel for the Group, will create for PartyGaming, particularly if the US regulates and licenses online gaming.”
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