PartyGaming buys WPTE

Online gaming company PartyGaming has acquired WPT Enterprises (WPTE), a Los Angeles-based poker and gambling company, for up to $15.3 million (£9.1 million).

Online gaming company PartyGaming has acquired WPT Enterprises (WPTE), a Los Angeles-based poker and gambling company, for up to $15.3 million (£9.1 million).

WPTE includes the World Poker Tour brand as well as the ClubWPT subscription poker offering, which has more than 16,500 paying subscribers in 37 US states. The deal follows PartyGaming’s acquisition of online bingo business Cashcade in July.

Jim Ryan, PartyGaming CEO, said: ‘This deal brings together two of the biggest brands in online and offline poker – PartyPoker.com and World Poker Tour – that we will market internationally to build our poker business.’

He added: ‘Our plans also include using the ClubWPT subscription platform to leverage our 12 million-strong US player database via a [PartyGaming]-branded website and the launch of a European WPT-branded poker and casino site.’

Gibraltar-based PartyGaming reported revenue of £201.3 million in the six months to June, with pre-tax profits of £38 million.

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary... More by Nick Britton