CPT Purchasing by Poker Site?

According to reports, the Canadian Poker Tour might either be purchased or be sponsored by an unnamed, but large, online poker company.

According to CNN Money, Kelli Kellner, the chief executive officer of Heads Up Entertainment International, which owns the CPT, has confirmed there is an offer on the table for the CPT.

“For competitive reasons, the online poker company wishes to go unnamed at this time,” Kellner said. “As the online poker market becomes more competitive our brand name in our market becomes more and more valuable. As a result of these negotiations, the numbers here can get very large, very quickly.”

Over the last several years, Heads Up Entertainment has built up the Canadian Poker Tour to include more than 50 of the best casinos throughout Canada. The tour are also reaches into Costa Rica, the Dominican Republic and on cruises on the Caribbean. In all, Heads Up Entertainment supports more than 600 casino-based poker events through its various partnerships all over the world.

CNN Money reports that heads up entertainment, which owns the Canadian poker tour, Canadian Poker Player Magazine, and Canadian Poker Player Television, could potentially reach more than 40 million people throughout North America. This new sponsorship or ownership deal could cement that powerful commodity further.

“When we started discussing the idea in more depth on Friday with this online poker outlet,” Kellner said, “we realized that it was happening way before we thought it would.”

Should this deal be successful, it would not be unprecedented. Last year the World Poker Tour was sold to online gaming giant Party Gaming for more than $12 million. It is not known what kind of deal is currently on the table, but Kellner did say it was “well into the seven-figure range.”