As we predicted last month, the famous but cash-famished World Poker Tour has been sold. Only a week after surprising analysts with positive Q2 numbers, the WPT has found a new home with Gamynia Limited. There was a time when the WPT’s estimated value was in the hundreds of millions, but sources are reporting the final price for the brand was a mere $9.075 million plus a small share of future revenues.
While the sale won’t be official until it is ratified, 39% of stockholders have already given their blessing. WPT President Steven Lipscomb was playing it coy with reporters last month, but he released a statement on Monday supporting the move, saying that Gamynia’s resources would help the WPT to “realize its full potential.” The Tour’s current but soon to be former owner, WPT Enterprises, announced that they will use proceeds from the sale toward non-poker related business ventures.
WPT fans that were concerned about the future of the tour can rest easy. Gamynia is expected to take an aggressive approach toward revitalizing and expanding the brand. They’ve already tapped leading marketing and consulting firm Hardway Investments (the same people that brought us Titan Poker, Europa Casino, and Casino Tropez) to helm the brand’s comeback. Since Season Eight of the WPT is already underway, there won’t be any major changes until Q4 when the sale is finalized.
