World Poker Tour Sells Assets to Gamynia Limited for $9 Million

The World Poker Tour has sold its asstes to Gamynia Limited but everything is expected to continue as normal. (Bodog Beat Image)"]

In a surprising move that shocked no one, the World Poker Tour (WPTE) took full advantage of it's second profitable quarter in a row in quite some time to sell all of its assets to Gamynia Limited for $9 million. The group is expected to carry on the WPT schedule, TV broadcasts and sponsorship agreements as well as enter into the online poker arena.

“We believe this transaction will enable the World Poker Tour to realize its full potential across both its existing businesses and the lucrative online gaming market,” said Steve Lipscomb, President and CEO of WPT Enterprises. “Gamynia and its partners possess highly complimentary resources which will help it invest in and effectively integrate with the World Poker Tour efficiently and profitably.”

The WPTE will release all of its intellectual property rights related to the brand, while hanging onto it's cash, cash equivalents, employees and future revenue from the past few season of the WPT. WPTE will take the cash and use it to start an, as of yet, unspecified non-poker business.

While the WPTE no longer owns the World Poker Tour, there are still plenty of upcoming events to play. Right now, qualifiers are going on in the Bodog Poker room for as little as $1 for the WPT Marrakech in Morrocco. So, qualify online for the WPT Marrakech and get on your way to becoming part of Team Bodog and possibly another WPT-Made Millionaire.