PartyGaming gets ready for US with poker deal

ONLINE gaming group PartyGaming said yesterday it had completed the acquisition of the World Poker Tour brand, positioning itself for a return to the US market when legislation allows it.<br /><br />PartyGaming paid $12.3m (&pound;7.3m) for the World Poker Tour (WPT) brand and other assets &ndash; including the rights to a business with over 16,000 subscribers &ndash; beating rival bidder Mandalay Media to seal the deal. Mandalay had made an indicative offer of $36.5m for the whole of WPT Enterprises.<br /><br />PartyGaming will also pay a minimum of $3m over the next three years as part of a revenue share agreement.<br /><br />PartyGaming chief executive Jim Ryan said the firm&rsquo;s plans include using the ClubWPT subscription platform to &ldquo;leverage our 12m-strong US player database via a Party-branded website.&rdquo;