WPT Sold Off By WPT Enterprises Inc.

WPTE is selling the WPT – OMGWTFBBQ. (Image Courtesy WPT)

The WPT has been struggling for years with heavy losses until recently. The last two quarters saw the WPT (WPTE) post some decent profits. Interestingly, right after the most recent announcement of $370,000 in profits for the last quarter came another announcement that World Poker Tour Enterprises was selling almost all of its assets (including its television library) to Gamynia Limited for just over $9 million.

Gamynia is part of a private investment group and will continue to run all of the usual WPT operations.

The deal is still technically awaiting final approval by stockholders, but a group holding the lion’s share of ownership (39%) has already voted in favor of the sale. Cash from the sale will not be redistributed to shareholders but will instead get invested into purchasing a non-poker related business.

So it seems that WPT TV coverage will continue. And in the meantime we’ve got the 2009 WSOP on ESPN each Tuesday night until the Final Table in Novemeber. You can head here for the full 2009 WSOP TV Schedule, or if you’re done reading about poker, you can play online poker instead. We hear it’s a good time.