What's the Deal? -- WPT Enterprises today issued a press release commenting on the $700 million purchase offer it received July 7 from professional poker legend Doyle Brunson and a group of unnamed investors. The company stated, "The offer failed to provide sufficient information for WPTE to determine its credibility," and "Consequently. . . WPTE still does not have enough information to evaluate the credibility of the offer." The company says it received a term sheet proposing the $700 million purchase price from Las Vegas-based law firm Goodman and Chesnoff, but that the term sheet offered little other information and did not provide the names of the individuals in Brunson's team of investors. The offer was apparently publicized through a press release that was released without consultation with the WPT Enterprises before it was reported by hundreds of international media channels. WPT Enterprises says the term sheet indicated that the offer would expire on July 12 at 5:30, although the company could ask for a one-week extension. After seeking more information from Goodman and Chesnoff on July 8, WPT Enterprises was informed that the firm was no longer involved in the matter. The company has been unable to obtain any more information to substantiate the credibility of the offer and will therefore let it expire unless more information is provided.
Quoteworthy -- "I can't name a poker player that doesn't bet sports."
- Professional poker player Daniel Negreanu (speaking at the Bodog.com Poker & Sports Marketing Conference last week in Las Vegas).
Unenforceable Debt -- A high court in Malaysia has refused to permit the Ritz Hotel Casino in London to recover a 1.47 million euro debt accrued by a Osu Sukam, a senior official in Malaysia's ruling political party. The Casino allowed Sukam to gamble on credit and then later received permission from a British court to recover the debt. However, when the casino asked the Malaysian court to enforce the debt, the court found that the British court order could not be enforced because "Malaysians must be protected from being enticed to gamble on credit." Ritz Hotel Casino has 30 days to appeal the decision.
Age Limits -- Veikkaus, the National Lottery of Finland, will introduce age limits on its gaming products in September. The age limit for participating in gaming products through retail outlets will be set at 15 years of age, but players will have to be at least 18 years of age to participate in games via electronic channels. The age discrepancy is made because control at the retail outlets is stricter. (Players must submit game entries directly to a sales clerk.) When playing through interactive channels, however, there is no control over the amount being played, and no social controls exist. Soon Veikkaus will also equip its gaming systems with tools that enable players to impose individual restrictions on their playing.
New Sites -- Antigua-based I-gaming operator Christchurch Casinos E-gaming Investments Ltd. (CCEgaming) has launched a new skill gaming Web site at www.KiwiSkill.com. . . . SkillJam Technologies, the skill gaming subsidiary of FUN Technologies, has entered into an agreement to provide a skill gaming platform to online auction company eBAY.com. SkillJam will create eBay co-branded games, and then beginning in October will offer content-driven, tournament-style trivia games with eBay that will give users the opportunity to win prizes.
Sold Again -- British bookmaker William Hill has reached an agreement to sell 28 of its betting shops to the Tote for £15 million. All of the shops being sold were gained through William Hill's acquisition of Stanley Leisure's Stanleybet sports betting division. The Office of Fair Trading is investigating whether the purchase of Stanleybet's 624 shops by William Hill--which made William Hill the largest betting shop operator in the United Kingdom with 2,237 shops--has created any unfair competitive advantages. William Hill believes the sale of 28 shops to the Tote will help the company remain in compliance with local competition regulations.
Media 25 Hundred -- Pokerzone, Channel 226 on the Sky Digital television network in England, broadcast the Media 25 Hundred poker tournament for some of the top British print journalists. Ben Beasley-Murray, a freelance journalist for The Times, was the winner of the £2,500 first prize. Pokerzone says the tournament was such a success that it is planning a similar event for broadcast journalists.