Ourgame International Acquires World Poker Tour for $35 Million
The World Poker Tour (WPT) announced today that is has been acquired by Ourgame International Holdings Ltd. for a price of $35 million in cash.
Ourgame International Holdings Ltd. is a Hong Kong-listed corporation specializing in social gaming, with a wide offering of Internet card and board games across different platforms. The company boasts more than 500 million users, and it has previously worked with the WPT to help facilitate WPT National China at MGM Grand Sanya Resort.
"Having already established an exciting partnership with Ourgame, a high-growth company led by an enthusiastic group that is fully invested in the global growth of the sport of poker, we are delighted to now become a fully-integrated member of the Ourgame family," said WPT President & CEO Adam Pliska. "I want to thank bwin.party CEO Norbert Teufelberger and bwin.party CFO Martin Weigold for all of their support over the last six years, and for helping facilitate this agreement."
In 2009, bwin.party acquired the WPT 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.
"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," added Ourgame CEO Frank Ng. "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."
The acquisition is said to be made "on a debt-free, cash-free basis."