PartyGaming Buys EmpirePoker.com for $250 MillionDeal Ends Litigation Brought by Empire |
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PartyGaming, the parent company of PartyPoker.com, agreed to pay EmpirePoker.com $250 million in cash as part of a settlement that started when PartyGaming announced in September that it will stop its players from patronizing other sites, including EmpirePoker.com.
The $250 million gives PartyGaming the business, assets, player databases and intellectual property relating to EmpirePoker.com and AceClub.com. With the deal, Empire Online Limited, which owned EmpirePoker.com, withdrew all legal claims against PartyGaming.
EmpirePoker.com sued PartyGaming, claiming a breach of contract occurred when PartyGaming decided to stop allowing its players to play at other poker "skins," which are smaller gaming sites that depend on traffic generated by the larger companies.
Traffic to EmpirePoker.com dropped substantially after PartyGaming stopped its registered players from being able to easily play at the site.
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