PartyGaming Seals The Deal With World Poker Tour Purchase

Poker News - November 11th, 2009 - Written by Glen

PartyGaming was once one of the biggest gambling suppliers in the world, bringing Online Poker Rooms, online casino gaming, and even sports gambling to American residents. With the passing of the UIGEA, PartyGaming had to pull from the American market, thus damaging their overall worth and stream of revenue. This has not stopped PartyGaming from being one of the largest gambling ventures in the world, as they have recently acquired the World Poker Tour - the second most prominent series of poker tournaments in the world.

For a relatively meager $12.3 million dollars, as well as a minimum of $3 million dollars revenue sharing over the next three years, PartyGaming will become the new supplier of the WPT tournaments in the USA and Europe. This marks the return of PartyGaming to the American market, and perhaps a massive increase on the overall worth of PartyGaming as a whole.

Mandalay Media had originally attempted to push PartyGaming's bid out of the picture, though their $36 million dollar proposal was rejected, giving PartyGaming the rights to the World Poker Tour. This unprecedented purchase may help with the return of PartyGaming's online platforms to the United States, despite fines imposed by the government against PartyGaming's operating in the USA.

The deal had caused PartyGaming's share to rise to 236.7p a piece, up 5.6p from the day's opening. Ironically, this purchase is finalized not even two months after Anurag Dikshit, one of the original owners of PartyGaming, sold most of his shares.

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