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TournamentsAugust 5, 2009·1 min read
WPT Enterprises Acquired by Gamynia Limited for $9 Million
WPT Enterprises, Inc., the company behind the renowned brands WPT (World Poker Tour) and PPT (Professional Poker Tour), has been acquired by Gamynia Limited for $9 million plus a portion of future earnings. This acquisition comes at a time when WPT tournaments have been losing popularity over the past 1.5 years, with participant numbers decreasing steadily. The PPT series tournaments have not been held at all, and the online business of WPT Enterprises ended in complete failure.
The stock price of WPT Enterprises' parent company rose 12% after the sale announcement. Gamynia Limited has named Hardway Investments Ltd. as its future partner, a leader in online gaming marketing. Hardway Investments Ltd. collaborates closely with Playtech, the software provider for the Ipoker network.
With the acquisition, the future of WPT under new ownership remains uncertain. It is yet to be seen whether the new owners can revive the brand's former glory or if it will continue to struggle against aggressive newcomers like EPT and LAPT.
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