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PartyGaming Buys World Poker Tour

10/2/09 - The rumours flying around the online gambling industry recently that Party Gaming plc was about to make an offer for World Poker Tour Enterprises have been confirmed by a company announcement that a deal is in progress. PartyPoker
 
PartyGaming said Tuesday that it had agreed to buy the U.S.-based gaming firm for $12.3 million (GBP 7.5 million) in cash.
 
The Gibraltar-based Internet gambling group said it would also pay a minimum of $3 million over the next three years to World Poker Tour's vendors on an ongoing revenue share related to the assets purchased.
 
The acquisition is expected to be completed in the fourth quarter of 2009.
 
WPT confirmed that it had agreed to sell substantially all of its operating assets other than cash, investments and certain excluded assets to Peerless Media, a unit of ElectraWorks, which is owned by PartyGaming.
 
The acquisition move makes a lot of sense; PartyGaming is WPT's largest customer, accounting for 30 percent of its revenue for the six months ended June 28, according to a WPT regulatory filing.
 
Last month, PartyGaming said it was looking for further acquisitions in the wake of its purchase of bingo website operator Cashcade for an initial GBP 71.9 million (see previous InfoPowa reports).
 
In August this year a $9.075 million plus a percentage of future revenues agreement of sale between WPT and the Gamynia group was put on hold in compliance with procedures prescribed in the sales agreement when WPT received what at that time was an unidentified "alternative proposal," which now appears to have been the Party Gaming offer.



Gambling News :

NBA odds on Thunder vs. Pacers Game? - This Wednesday night in Indianapolis, Paul George is due to play his first game at the Fieldhouse as a member of the Oklahoma City Thunder (12-13 SU, 8-17 ATS). But George might not face the Indiana Pacers (15-11 SU, 16-10 ATS); he’s listed as day-to-day with a right calf contusion. Tip-off is at 7 PM ET on ESPN.

2 New Christmas Slots For Microgaming - Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.

SportsBetting Supreme Court Showdown - Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)

Mega Moolah Progressive Slot Pays Again - On 15 November 2017, the Mega Moolah jackpot was won by a Grand Mondial Casino player. They took home €938,306.35.

Microgame S.p.A. in deal with Prima Networks - Prima Networks, powered by Microgaming, has signed a deal with Microgame S.p.A., the leading Italian gaming service provider.

NBA Odds: Heat Can Burn Cavaliers in Cleveland - The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.

Games Concept Day in Malta - The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.

AFC’s fight against match-fixing - The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.

PartyPoker Removes Dormant Account Fees - partypoker today announced that players will no longer be charged fees for inactivity on their online accounts.

NHL Odds: Rangers Look for Seventh Straight in Chicago - The Chicago Blackhawks (8-8-2) will try to get their season on track this Wednesday when they host the surging New York Rangers (9-7-2) in an Original Six showdown. NBCSN has the coverage beginning at 8 PM ET.

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