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Online Casino News - August, 2009

World Poker Tour Enterprises Buyout Likely to Happen

 

  Seed Newsvine

by Mira Patel, News Staff Writer

August 5, 2009

The World Poker Tour probably doesn't need an introduction to anyone who plays online poker, or online casino games for that matter.  One of the largest and most branded names in the game of poker - both online and in the bricks 'n mortar world - the World Poker Tour, or rather, WPT is the place to be for anyone aspiring for competitive poker action, not to mention multi-million dollar pots.

That's why private investment group, Gamynia Limited's, recent acquisition of World Poker Tour Enterprises was no big surprise. The fact that World Poker Tour was being eyed for a buy-out really makes sense when you consider the growth that WPT needs to have in order to "realize its full potential", as WPT Chief Executive Officer, Steve Lipscomb, recently said.

According to Lipscomb, the deal with Gamynia will help the WPT to expand and grow in both the land-based and online gambling market. The latter is especially important to WPT's share holder's, who have yet to approve the deal, tagged at $9.075 million plus an undetermined percentage of future earnings.

In fact, the importance of WPT's online growth was so important to share holder's, that noted online casino marketing, consulting and operations company, Hardway Investments, was brought into the deal for overseeing the WPT brand's future in the competitive online gambling sector.

Said Lipscomb, "Of particular importance for our partners is the fact that Hardway Investments has an established track record of creating revenues and value in the online gaming marketplace". There is certainly no doubt about that. Hardway has produced some of the most successful Playtech powered online casinos and betting sites to date, including Casino Tropez, Casino Del Rio, Europa Casino and Titan Poker.

At this point, it is very likely WPT stock holder's will approve the sale, at which time Gamynia Limited will immediately begin integrating resources.


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