In an all cash sale, Bwin.Party Digital Entertainment Plc has offloaded the World Poker Tour to Hong Kong listed Ourgame for US$35 million. Ourgame is a social gaming company with interests in several Asian countries. Ourgame has a market capitalization of about HK$5.7 billion (US$733m).
Bwin.party acquired the WPT for $12.3 million in 2009. The two companies have been working together since late last year and had been planning to partner on the WPT National China.
“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,” said WPT President & CEO Adam Pliska.
Bwin.party will continue to sponsor events and television shows in the U.S. and Europe until the end of 2016. They also retained first right of refusal over new sponsorship opportunities that present themselves up until that time.