PartyGaming Now Owns World Poker Tour Brand

From the CAP News page:

November 12, 2009 (CAP Newswire) -- Finalizing a months-long acquisition process, PartyGaming this week confirmed that it now owns the World Poker Tour brand and other related WPT assets. A last-minute attempt by a Los Angeles-based media company to stop the deal was averted, reports the UK Telegraph.

“Mandalay made an indicative $36.5m proposal for the whole of WPT Enterprises – but it was rejected in favour of PartyGaming’s asset deal,” the Telegraph reports.

PartyGaming now has the full rights to land-based WPT poker events in the United States and in Europe, “150 hours of poker programming, and 16,500 paying players for a subscription poker offering.” There’s also a revenue-sharing deal that will see PartyGaming paying at least $3 million more over three years.

Expect this to give the PartyGaming brand a lot more reach, and access to many more customers. The WPT is very popular in the United States, making this a possible huge step in PartyGaming's strategy to prepare itself for the opening of the U.S. market.

Click here to read more at the Telegraph. Click here for info on the PartyGaming affiliate program.