PRTY Partygaming

 

TIDMPRTY 
 
RNS Number : 1636C 
PartyGaming Plc 
09 November 2009 
 

 
 
 
 
9 November 2009 
 
 
 
 
PartyGaming Plc 
("PartyGaming" or "the Company") 
 
 
Acquisition of World Poker Tour completed 
 
 
PartyGaming, the world's leading listed online gaming company, announces the 
completion of the acquisition of the business and substantially all of the 
assets of WPT Enterprises Inc. ("WPTE") for a cash consideration of $12.3 
million plus an additional minimum aggregate payment of $3m over the next three 
years relating to an ongoing revenue share agreement. 
 
 
The assets being acquired include, inter alia: 
 
 
  *  The World Poker Tour  brand, rights to a number of land-based events in the US 
  and Europe and all other intellectual property rights associated with the World 
  Poker Tour 
  *  An extensive library of over 150 hours of poker programming that is broadcast in 
  more than 150 countries 
  *  The ClubWPT subscription poker offering that has more than 16,500 paying 
  subscribers in 37 US states 
 
 
 
Commenting on today's announcement, Jim Ryan, PartyGaming Chief Executive 
Officer, said: 
 
 
"This deal brings together two of the biggest brands in online and offline poker 
- www.PartyPoker.com  and World Poker Tour - that we will market internationally 
to build our poker business. Our plans also include using the ClubWPT 
subscription platform to leverage our 12 million-strong US player database via a 
Party-branded website and the launch of a European WPT-branded poker and casino 
site. We are excited about the opportunities that WPT, a proven marketing 
channel for the Group, will create for PartyGaming, particularly if the US 
regulates and licenses online gaming." 
 
 
Steve Lipscomb, the founder of WPTE, said: 
"PartyGaming has been an important partner for a number of years and we are 
confident that they will be an excellent manager of our brands in the future. 
Combining two of the pioneers and leaders in the poker and online gaming markets 
will create a strong vehicle for the WPT brand to continue its global 
expansion." 
 
 
 
 
Contacts: 
+--------------------------------------------+------------------------------+ 
| Peter Reynolds, Director of Corporate Affairs+44 (0) 207 337 0100         | 
+---------------------------------------------------------------------------+ 
| John Shepherd, Director of Corporate       |                              | 
| Communications                             |                              | 
+--------------------------------------------+------------------------------+ 
 
 
 
  About PartyGaming Plc 
 
 
PartyGaming Plc is the world's leading listed online gaming company. Founded in 
1997, the Group is a constituent of the FTSE 250 share index with its shares 
listed on The London Stock Exchange under the ticker: PRTY. In the year to 31 
December 2008, PartyGaming's Continuing operations generated revenues of $472.9m 
and Clean EBITDA of $144.2m. PartyGaming's principal brands are 
www.PartyPoker.com,  one of the world's largest online poker rooms, 
www.EmpirePoker.com,  www.PartyCasino.com,  www.PartyBingo.com, 
www.PartyGammon.com, www.PartyBets.com, www.PartyMarkets.com, www.FoxyBingo.com, 
 www.GetMinted.com,  and www.Gamebookers.com.  None of the Group's sites accept 
real money customers located in the US. The Group is a responsible gaming 
operator as recognised by GamCare a leading responsible gaming charity in the 
UK. 
 
 
PartyGaming is regulated and licensed by the Government of Gibraltar and by the 
Alderney Gambling Control Commission and is certified by GamCare as a 
responsible gaming operator and is also a constituent member of the FTSE4Good 
Index of companies. For more information, please visit www.partygaming.com. 
 
 
 
 
About WPT Enterprises Inc. 
 
 
WPT Enterprises, Inc. is one of the most recognised names in internationally 
televised gaming and entertainment with brand presence in land-based 
tournaments, television, online and mobile. WPTE has led innovation in the sport 
of poker since 2002, when it ignited the global poker boom with the creation of 
the World Poker Tour television show. Based on a series of high stakes poker 
tournaments, WPT is now broadcast globally and premiered its all-new seventh 
season on Fox Sports Net's national sports network in the United States in 
January 2009. WPTE also offers a unique online subscription and 
sweepstakes-based poker club, ClubWPT.com, that has players from 37 states 
across the US. WPTE also participates in strategic brand license, partnership 
and sponsorship opportunities. For more information see: www.worldpokertour.com. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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