Online Casino Company PartyGaming Acquires World Poker Tour.
PartyGaming officials kept the online casinos company in preparedness to re-enter the US gambling market by obtaining the World Poker Tour brand.
PartyGaming is ready to reintroduce the online blackjack, online roulette, online slot machines and poker to the U.S. gambling market.
PartyGaming continued to get ready for a potential comeback to the US gambling market with yesterday’s purchase of the World Poker Tour. The online casino operator blitzed out $12.3 million for the WPT brand and goods. PartyGaming purchased the WPT name, the rights to events held both in the US and Europe, television programming of 150 hours annually of poker tournaments, and 16,500 supporters already paying for poker subscriptions. Among the advantages for PartyGaming are the merging of the WPT brand, which was wanted by several other gaming operators, and the capability to carry on land-based connections with PartyGaming’s 12 million US customers it no longer can service online. PartyGaming Ceo Jim Ryan noted the deal merges “two of the biggest brands in online and offline poker”. PartyGaming obligated to a revenue-sharing plan with WPT Enterprises, which will earn the sellers payments of at least $3 million over the next three years. Mandalay Media tried a last-minute attack to barrier the sale, offering $36 million for all of WPT Enterprises, but owners preferred just the sale of assets to PartyGaming.