PartyPoker pulled out of its sponsorship with the Philadelphia 76ers early.
According to a press statement given to the Philadelphia Inquirer, the deal contained “triggers” which allowed either side to terminate the contract. It was not clear what trigger was invoked.
Under the terms of the multi-year deal, PartyPoker’s parent company, bwin.party, supplied branding for a variety of 76ers events. However, that deal may have anticipated that Pennsylvania would soon legalize online poker, which has not happened.
Analysts also speculated that bwin.party’s new owner, GVC Holdings, may be looking to cut costs according to a report at PokerSites.com.