WPT Enterprises, which produces the World Poker Tour said Monday it has agreed to sell substantially all of the company's operating assets to Peerless Media Ltd., which is a subsidiary of PartyGaming
Peerless will pay $12.3 million, according to the regulatory filing with the SEC announcing the deal. Peerless will pay $1 million up front and the remainder when the deal is closed.
"PartyGaming has been an important partner for a couple of years and we are confident that they will be an excellent manager of our brands in the future," said Steve Lipscomb, WPTE President and CEO.
"Americans have played poker throughout history. Playing poker on the internet is simply an example of an American tradition evolving into the 21st century. It is unfathomable that poker, an American pastime and game of skill, should be banned for the millions who enjoy playing responsibly."
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