WPT sale gets interesting

08/20/2009

If you thought the World Poker Tour acquisition was virtually a done deal for Gamnyia Limited (see previous InfoPowa reports) then a rethink may be necessary. Mandatory Securities and Exchange Commission filings by World Poker Tour this week indicate that an alternative acquisition offer has entered the picture.

Details of the new approach have not been disclosed, but it would have to be a signiicant bid to best Gamnyia's $9.05 million and percentage of subsequent revenues proposal agreed on August 3rd, but conditional on the approval of shareholders.

Previous communications from WPT management indicated that 39 percent of shareholders had already agreed to accept the Gamnyia proposal.