With a surprising turn of events, PartyGaming has acquired the World Poker Tour. PartyGaming is one of the top online casino companies, and it looks like the rich are just getting richer. WPT Enterprises has confirmed that a company owned by PartyGaming has acquired the company.

The World Poker Tour is one of largest poker tours in the world, and is second to the World Series of Poker which is owned by Harrahs Entertainment. Professional stars play on this tour and the television exposure of the WPT events is unmatched.

This may increase the chances of PartyGaming re-entering the U.S. market, because the World Poker Tour is globally recognized and it will be definately be a driving force in the U.S. segment of the online poker industry.

It has been speculated that WPT Enterprises decided to sell the World Poker Tour because of financial hardships due to the financial crisis and dwindling attendance at the World Poker Tour events. It is believed that PartyGaming has the power to turn things around, especially with it’s huge market share in the poker industry.

“PartyGaming has been an important partner for a couple of years and we are confident that they will be an excellent manager of our brands in the future,” said Steve Lipscomb, CEO of WPT Enterprises.. The sale of the WPT was completed for $12.3 million and 5% of future gaming revenues.

© Monty for Casino News Authority, 2009. | Permalink | No comment | Add to del.icio.us
Post tags: poker, world poker, world poker tour, wpt

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