You read it right! World Poker Tour (WPT) now has new head honchos from Ourgame.
WPT Enterprises Inc. has been recently sold to Ourgame International Holdings Ltd. on a debt free basis for $35 million. Ourgame is a Hong Kong-listed social gaming company with a market capitalisation of approximately US$733 million. The company has previously worked with the WPT to help facilitate WPT National China at MGM Grand Sanya Resort.
Back in 2009, the World Poker Tour was acquired by bwin.party for $12.3 million. Since then, the tour has grown from 16 WPT Main Tour stops to more than 70 total events across the WPT Main Tour, WPT Alpha8, WPT National, and WPT DeepStacks. However, 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.
According to Frank Ng, Ourgame CEO “World Poker Tour is unquestionably the global leader in organizing world-class poker events, and we are very proud to acquire one of the world’s greatest brands. WPT, with Ourgame as its new owner, will continue to expand its already impressive global presence, bringing poker and gaming entertainment to cities and homes around the world via television broadcasts, mobile devices, card tables, and more.”Ourgame has been in business since 1998 and raised over $100 million in their initial public offering in July 2014. With a wide offering of Internet card and board games across different platforms, the company boasts more than 500 million users.
Ourgame International has been in business since 1998 and raised over $100 million in their initial public offering in July 2014. With a wide offering of Internet card and board games across different platforms, the company boasts more than 500 million users.