It was announced this week that PartyGaming has agreed to buy the business and substantially all of the assets of WPT Enterprises, including the World Poker Tour brand, for US$12.3m.
It is reported that PartyGaming will pay WPT Enterprises five per cent of future gaming and other revenue from the use of the purchased assets, with a guarantee that it will receive at least US$3m during the three years following the close of the deal.
The acquisition is expected to be completed in the fourth quarter of 2009.
