BwinParty to sell WPT
Operator BwinParty has agreed to sell all of its interests in World Poker Tour (WPT) to developer Ourgame International Holdings for $35m.
The acquisition fee, which is payable in cash, is subject to adjustment in respect of the debt and cash on the closing date.
BwinParty will remain as a sponsor of various WPT events and television shows in the US and Europe until the end of next year.
WPT was acquired by Party Gaming for $12.3m in 2009, and Party Gaming merged with fellow operator Bwin in 2011.
Martin Weigold, BwinParty CFO, said: “Over the past six years we have built WPT into a global franchise, with tournaments and TV deals in many countries including Asia where poker remains a popular and growing sport.
“However, consistent with our strategy of divesting our non-core assets, we believe that now is the right time to release that value for shareholders so that we can focus our efforts on our core real money gaming and technology business.”
BwinParty closed down WPTPoker.com earlier this month, as part of plans to focus its efforts on its other poker sites PartyPoker and Bwin poker.
The operator confirmed in May that it had received a proposal for the acquisition of the entire issued and to be issued share capital of its business by operator 888 Holdings, as well as a proposal from online gaming group GVC Holdings, which later announced its proposal would be jointly financed by provider Amaya Gaming.
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