25th Aug 2009 08:00
25 August 2009
PartyGaming Plc
("PartyGaming" or "the Company")
Agreement to acquire the World Poker Tour
PartyGaming, the world's leading listed online gaming company, has agreed to acquire the business and substantially all of the assets of WPT Enterprises Inc. ("WPT") for a cash consideration of $12.3 million and an ongoing revenue share relating to the purchased assets under which PartyGaming will make a minimum aggregate payment of $3m over the next three years.
Subject to formal approval by the shareholders of WPT, the acquisition is expected to be completed in the fourth quarter of 2009.
Contacts:
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Peter Reynolds, Director of Corporate Affairs +44 (0) 207 337 0100 |
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John Shepherd, Director of Corporate Communications |
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About PartyGaming Plc
PartyGaming Plc is the world's leading listed online gaming company. Founded in 1997, the Group is a constituent of the FTSE 250 share index with its shares listed on The London Stock Exchange under the ticker: PRTY. In the year to 31 December 2008, PartyGaming's Continuing operations generated revenues of $472.9m and Clean EBITDA of $144.2m. PartyGaming's principal brands are PartyPoker.com, one of the world's largest online poker rooms, EmpirePoker.com, PartyCasino.com, PartyBingo.com, PartyGammon.com, PartyBets.com, PartyMarkets.com, FoxyBingo.com, GetMinted.com and Gamebookers.com. None of the Group's sites accept real money customers located in the US. The Group is a responsible gaming operator as recognised by GamCare a leading responsible gaming charity in the UK.
PartyGaming is regulated and licensed by the Government of Gibraltar and by the Alderney Gambling Control Commission and is certified by GamCare as a responsible gaming operator and is also a constituent member of the FTSE4Good Index of companies. For more information, please visit www.partygaming.com.
About WPT Enterprises
WPT Enterprises, Inc. is one of the most recognised names in internationally televised gaming and entertainment with brand presence in land-based tournaments, television, online and mobile. WPTE has led innovation in the sport of poker since 2002, when it ignited the global poker boom with the creation of the World Poker Tour television show. Based on a series of high stakes poker tournaments, WPT is now broadcast globally and premiered its all-new seventh season on Fox Sports Net's national sports network in the United States in January 2009. WPTE also offers a unique online subscription and sweepstakes-based poker club, ClubWPT.com, which operates in 38 states across the US. WPTE also participates in strategic brand license, partnership and sponsorship opportunities. For more information, see www.worldpokertour.com.
Related Shares:
BPTY.L