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PartyGaming Completes World Poker Tour Takeover

PartyPoker Parent Company Pays $12.3 Million for World Poker Tour Enterprises

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Party GamingPartyGaming today completed the takeover of the World Poker Tour brand for $12.3 million, having earlier gazumped Gamynia’s original bid of $9.1 million and fought off a late bid from Mandalay Media.

Jim Ryan, chief executive officer of PartyGaming, said of the takeover, ““This deal brings together two of the biggest brands in online and offline poker – PartyPoker.com and World Poker Tour – that we will market internationally to build our poker business. Our plans also include using the ClubWPT subscription platform to leverage our 12 million-strong US player database via a Party-branded website and the launch of a European WPT-branded poker and casino site. We are excited about the opportunities that WPT, a proven marketing channel for the Group, will create for PartyGaming, particularly if the US regulates and licenses online gaming.”

The deal sees PartyGaming pick up the World Poker Tour brand including the rights to a number of land-based events in the US and Europe as well as an extensive library of over 150 hours of poker programming that is broadcast in more than 150 countries

It also now owns the ClubWPT subscription poker offering which has more than 16,500 paying subscribers in 37 US states.