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A latest news report states that the World Poker (WPT) has been taken over for $35 Million by Ourgame International Holdings Ltd, a Hong Kong listed company.
Ourgame International specializes in online social gaming and offers a wide variety of card and board games, through several platforms. The company has more 500 million users and has collaborated with the WPT in the past for events, such as WPT National China at MGM Grand Sanya Resort.
WPT was acquired in 2009 by bwin.party for $12.3 Million. In these 6 years, WPT has grown from its 16 WPT Main Tour stops to over 70 total events, through new collaterals, like the WPT Main Tour, WPT Alpha8, WPT National, and WPT DeepStacks.
Adam Pliska President & CEO WPT spoke about the acquisition and said, “I want to thank bwin.party CEO Norbert Teufelberger and bwin.party CFO Martin Weigold for all of their support over the last six years, and for helping facilitate this agreement.”
He added that, “Having already established an exciting partnership with Ourgame, a high-growth company led by an enthusiastic group that is fully invested in the global growth of the sport of poker, we are delighted to now become a fully-integrated member of the Ourgame family.”
Frank Ng, CEO,Ourgame responded, saying”World Poker Tour is unquestionably the global leader in organizing world-class poker events, and we are very proud to acquire one of the world’s greatest brands.”
He continued, “WPT, with Ourgame as its new owner, will continue to expand its already impressive global presence, bringing poker and gaming entertainment to cities and homes around the world via television broadcasts, mobile devices, card tables, and more.”
The takeover is being stated as having been made on a debt-free and cash-free basis.