World Poker Tour Enterprises sells assets to Gamynia
WPT Enterprises, the parent company of the World Poker Tour (WPT), has sold its assets to investment group Gamynia.
WPT Enterprises, the parent company of the World Poker Tour (WPT), has sold its assets to investment group Gamynia.
The takeover was for US$9m plus a percentage of future revenues from the World Poker Tour and Professional Poker Tour brands.
Gamynia will also acquire WPT’s television library in addition to the WPT brands and intellectual property. However WPTE will retain all revenues deriving from the sponsorship of seasons four, five and six of the World Poker Tour and season one of the Professional Poker Tour by PartyGaming and the licence of season seven of the World Poker Tour to PokerStars.
Gamnyia has also hired Hardway Investments, the online gaming marketing agency for Playtech licensees, to promote the WPT brands.
WPT chief executive Steve Lipscomb said: “The World Poker Tour as a stand-alone entity has struggled to find the appropriate place for its stockholders in this fast-evolving market. We believe that Gamynia and Hardway Investments are uniquely positioned to join with our current partners and guide the World Poker Tour brands to fulfill their potential in the global poker marketplace.”