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| Sunday, February 12 2012
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Sale of the WPTE: the name of the second buyer finally known
After a communiqué which announces the existence of a second buyer apart from Gamynia Limited but whose name was not revealed yet, World Poker Tour Enterprise raises the sail on this mystery. They announced that they are going to give up a part of their assets to Peerless Media, a subsidiary of Partygaming which possesses the fourth biggest room of online poker in the world. By offering $12.3 millions for the World Poker Tour’s assets, Partygaming forestalls what Gamynia Limited intended to do which bid was 33 % lower. Details of this operation are the same that the agreement done with Gamynia Limited but PartyGaming has to pay $1 million of damages to Gamynia Limited.
Steven Lipscomb founder, president and the chief executive officer of the World Poker tour declared in the presence of the new buyers that the board of directors determined that the proposition of PartyGaming is financially superior to that of Gamynia and that he is impatient to work with one of the pioneers of online poker which is going to supply a powerful vector to the WPT mark and to pursue its expansion in the world. Besides the financial lightning, the new buyers possess another card in their sleeve: the ambassador of their poker branch, Mike Sexton, the famous presenter of the World Poker tour. Finally, so that the agreement is real, the shareholders have to approve this sale. Partygaming hopes to conclude the affair in the fourth quarter 2009. This sale wouldn’t have any incidence to the eighth season of the World Poker Tour which currently takes place in Los Angeles.
Source: Poker 777
Thursday, 27 August 2009
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