World Poker Tour Enterprises Buyout Likely to Happen
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
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.