Internet betting firm Bwin.Party Digital Entertainment has announced that they have agreed to sell their World Poker Tour franchise to Ourgame International Holdings for $35 million.
Ourgame is a Hong Kong based company that has been a WPT license over the past three years. The sale will culminate in a $7.6 million loss for Bwin, which purchased the tour for $12.3 million in 2009. Ourgame head Frank Ng said that his company will expand WPT's footprint and will be "...bringing poker and gaming entertainment to cities and homes around the world via television broadcasts, mobile devices, card tables, and more.”
WPT CEO Adam Pliska said that they will be looking forward to becoming a fully integrated member of Ourgame, and noted that his new owner is "a high growth company fully invested in the sport of poker."
The World Poker Tour currently holds 70 tours across Europe, Asia, and North America, wherein the action is broadcast on television stations such as Fox Sports. The tour has also garnered many lucrative sponsorships, including Monster Headphones, Hublot, DraftKings, Skrill, FIAT and Royal Caribbean International.
Dates on the final acquisition of the tour have not yet been revealed.