WPT Enterprises To Sell Off Assets
The parent company of the World Poker Tour, WPT Enterprises Inc., is reported to be selling off its assets, including its library of television programmes.
Gamynia Ltd. Is the recipient of the assets in a deal worth just over $9 million. The group is expected to carry on the WPT schedule, TV broadcasts and sponsorship agreements as well as enter into the online poker arena.
“We believe this transaction will enable the World Poker Tour to realize its full potential across both its existing businesses and the lucrative online gaming market,” said Steve Lipscomb, President and CEO of WPT Enterprises. “Gamynia and its partners possess highly complimentary resources which will help it invest in and effectively integrate with the World Poker Tour efficiently and profitably.”
Under the deal, WPT will also receive a percentage of future revenues brought in by Gamynia from the World Poker Tour and Professional Poker Tour brands. Gamynia has also enlisted online gaming marketing company Hardway Investments Ltd. to develop the WPT brand.