World Poker Tour Sells for Over $9m

World Poker Tour Sells for Over $9m

Tuesday, 4 August 2009

WPT enterprises, the force behind the once-successful World Poker Tour, have announced that they have sold all assets other than cash, investments and undisclosed excluded assets.

The WPT has been in decline for a while, despite the roaring success of the WSOPE and EPT. This, many speculate, is down to the current online poker situation in the US - i.e. not good.

Gamynia Ltd, a company of privately-held investment groups, has purchased the assets of WPT Enterprises for $9.075m. In addition they will pay the company a percentage of future revenues from the WPT, implying that the tour will continue.

"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. 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," said Steve Lipscomb, President and CEO of WPT Enterprises.

Tags: Poker News, World, Poker, Tour, Sells, for, Over, $9m