World Poker Tour Sold to PartyGaming
The World Poker Tour is now owned by PartyGaming. On Monday, Peerless Media, a subsidiary of PartyGaming, purchased the rights to the World Poker Tour for $12.3 Million and 5% participation and gaming revenues generated by the assets.
This deal is better than the original $9 Million deal offered by Gamynia Limited earlier in the month. Personally, I think that the sale to PartyGaming makes a lot more sense since it gives PartyPoker the opportunity to really capitalize on the WPT name.
The only downside that I initially see to this is the ability of PartyGaming to capitalize in the U.S. market, at least for the time being. If the UIGEA is overturned, this becomes a non-issue, but in the meantime, PartyPoker will not be able to reap any real benefits from U.S. customers. However, the worldwide impact should be huge.
Of course, this is the 2nd bid to buy the company. Will anyone else step up and try to buy it? Time will tell, but I suspect that unless PokerStars or Full Tilt decides to put their hat into the ring, we will have the World Poker Tour, sponsored by PartyPoker.com.