WPT Enterprises, Inc. today announced that Gamynia Limited , a company which forms part of a privately held investment group with substantial holdings in a range of diversified assets, has agreed to acquire substantially all of the Company’s operating assets other than cash, investments and certain excluded assets. Gamynia will pay the Company $9,075,000 plus a percentage of future revenues earned by Gamynia from the World Poker Tour® and Professional Poker Tour® brands.
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Under ownership of Gamynia, the World Poker Tour and Professional Poker Tour brands will continue all operations including the Company’s television, sponsorship, distribution and licensing units and will under the agreement enter the online gaming market. Gamynia has secured the services of an industry leading online gaming marketing company Hardway Investments Ltd. which will seek to exploit and develop the WPT brands with the goal of maximizing future revenue opportunities.
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