The first co-production, 'Poker Hotel', is a docusoap-style poker match between celebrities and professional players, who will battle it out to win $150,000 (£84,000) in a UK hotel.
The deal was negotiated by Todd Jackson, the programming director of CGTV, Jonathan Webb, the controller of Challenge TV, and Sarah Vong, the vice-president of Minotaur International, Flextech's distribution arm.
Webb said the deal meant more commissions, bigger production budgets and the chance for Challenge TV to take poker into reality and factual entertainment.
Nickolas Rhodes, the president and chief executive of CGTV, said: "This unique partnership will blend gaming styles from both sides of the Atlantic, providing fans with world class casino drama and action."
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