Written by :
Aaron Goldstein
Published on :
(Gambling911.com News Wire) – Struggling Bwin.Party has sold its tournament arm, World Poker Tour, to Ourgame for US$35 million, Rueters revealed on Monday. The sale was classified as debt free and payable in cash.
Ourgame is a Hong Kong-listed social gaming company with interests across Asia and a market capitalisation of approximately HK$5.7 billion (US$733m).
Under the terms of the transaction, bwin.party will continue to sponsor various WPT events and television shows in both the United States and Europe until 31 December 2016.
Bwin.Party itself has been the subject of acquisition rumors in recent months. - Aaron Goldstein, G911
