PartyGaming buys major piece of WPT assets

[The Buzz]

Late yesterday PartyGaming agreed to acquire nearly all of World Poker Tour Enterprise's operating assets.

If you remember, the WPT had reached an agreement earlier this month with investment group Gamynia Ltd. That deal is now void.

From Casino City:

Under the asset purchase agreement, WPTE will sell its television library, including all related intellectual property rights, brand names, trade names, certain assumed contracts and tangible personal property. WPTE will retain its cash and cash equivalents, investments in debt securities and put rights, certain other investment and litigation assets, and future license revenues from certain existing Sponsorship deals for Season Seven of the World Poker Tour.

[Anthony]

Party Gaming is paying $12.3 million. Do we know what the Gamynia Ltd deal was for?

[JonOfFinsbury]

Yep: $9m plus contributions. Full details of both here: http://www.egrmagazine.com/news/indu...-gamynia.thtml

[Anthony]

Thanks.

Party Gaming wasn't pulling any punches.