'' Tribeca Tables sold to Playtech | Purchase | Acquisition
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TRIBECA TABLES SOLD TO PLAYTECH

Submitted by Erik Smith on Wednesday, July 18, 2012 - 02:15
Date November 2006
Price $75,000,0001
Asset Tribeca Poker Network
Buyer
Status Merged into iPoker
Software Yes
Success

Playtech managed to buy Tribeca Tables Europe Limited just as it was about to merge with the Tain Poker Network. The deal was almost sealed but $75,000,000 made Tribeca change its mind.

Tribeca Poker Network was a successful poker network mainly focusing on the UK market with many bluechip labels.

The network included sports books like Victor Chandler, Paddy Power and Blue Square. 

The minimum price was $75,000,000 but depending on the performance of the following 12 months a total of $139,000,000 could be paid out to Tribeca Tables' shareholders.

The purchase of this network must be considered as a success since the network grew significally because of this event. At the same time it removed a big competitor in the UK.

Playtech reported that its player base grew from 8,400 to 20,000 at peak time after the full migration of the Tribeca Poker rooms.

1 pokernews.com 13 November, 2006

2 playtech.com  February 2007




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