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PARTY GAMING COMPLETED ACQUISITION OF WORLD POKER TOUR

11/9/09 - Having overcome it's last-minute rival bidder Mandalay Media , the Gibraltar-based online gambling group Party Gaming plc this week announced the completion of its deal to acquire World Poker Tour Enterprises.
 
The acquisition of the business and substantially all of the assets of WPT Enterprises Inc. was achieved for a cash consideration of $12.3 million and an additional minimum aggregate payment of $3 million over the next three years in an ongoing revenue share agreement.
 
The Party statement identified the assets being acquired as:
 
• 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
 
Commenting on the acquisition, Jim Ryan, PartyGaming Chief Executive Officer, said:
 
“This deal brings together two of the biggest brands in online and offline poker – PartyPoker.com  and World Poker Tour – that we will market internationally to build our poker business.
 
"Our plans also 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.”
 
Steve Lipscomb, the founder of WPTE, said: “PartyGaming has been an important partner for a number of years and we are confident that they will be an excellent manager of our brands in the future.  Combining two of the pioneers and leaders in the poker and online gaming markets will create a strong vehicle for the WPT brand to continue its global expansion.”

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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