World Poker Tour Enterprises Enters Agreement with Gamynia Limited

It was recently announced that World Poker Tour Enterprises (WPTE) has received an alternative acquisition proposal and will be selling assets to Gamynia for just over 9 million dollars. In addition to the sale itself, WPTE will provide a percentage of revenue from its Professional Poker Tour and World Poker Tour brands to Gamynia.

As part of the deal, once the sale is finalized, WPTE will remove itself from the poker market without compensating shareholders with share proceeds. Shareholders must approve the sale and WPTE has already indicated that investors that represent 39% of the company’s shares have agreed to the sale. Gaminya will retain WPTE’s intellectual property rights, television library and brand names.

In order to facilitate the transaction Gamynia utilized the services of Hardway Investments, which works with online gambling companies and providers like affiliate network Euro Partners and software company Playtech, along with casinos like Europa Casino, Titan Poker and Casino Tropez.

The WPTE recently announced sponsorship agreements for both non-televised and televised European Poker tournaments. It is not clear how these deals will be affected as a result of the potential sale. The agreement was set to be in effect for two seasons and starts this October. WPTE stock saw a recent spike, likely a result of the announcement of the alternative bid.

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