Comments on: RE: Sinking WPTE Stock Prices WSOP and/or Full Tilt to buy the World Poker Tour? http://pokerati.com/2008/10/11/re-sinking-wpte-stock-prices-wsop-andor-full-tilt-to-buy-the-world-poker-tour/ Texas Hold'em and Las Vegas WSOP Poker Blog, now with PLO too! Thu, 09 Feb 2012 21:03:00 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: bluffdiver http://pokerati.com/2008/10/11/re-sinking-wpte-stock-prices-wsop-andor-full-tilt-to-buy-the-world-poker-tour/comment-page-1/#comment-159182 bluffdiver Mon, 13 Oct 2008 01:38:25 +0000 http://pokerati.com/?p=4552#comment-159182 I strongly believe that within the next six months, WPT will either be taken private by Lipscomb and Berman or bought out by Harrahs, MGM or Party Poker. Most likely the deal will occur before WPTE's stock in delisted from the Naz. People are looking forward to the potential repeal of the UIGEA and WPT looks to be a valuable asset in that environment. Also, keep in mind these numbers when considering the value of WPTE. The company currently has zero debt and reported cash and "marketable" securities of $24 million on its balance sheet at the end of last qtr. In addition the company has a $3 mill investment in Cecure, a British mobile game company. When you consider that the company currently has a market cap of just $10 million, you can see attractiveness of acquiring this company. It definitely needs mentioned, however, that $12.5 million of their "marketable" securities are currently frozen in ARS. Although, significant steps have been made recently regarding banks repurchasing these bonds, so it looks much better now than a few months ago. I strongly believe that within the next six months, WPT will either be taken private by Lipscomb and Berman or bought out by Harrahs, MGM or Party Poker. Most likely the deal will occur before WPTE’s stock in delisted from the Naz.

People are looking forward to the potential repeal of the UIGEA and WPT looks to be a valuable asset in that environment. Also, keep in mind these numbers when considering the value of WPTE. The company currently has zero debt and reported cash and “marketable” securities of $24 million on its balance sheet at the end of last qtr. In addition the company has a $3 mill investment in Cecure, a British mobile game company. When you consider that the company currently has a market cap of just $10 million, you can see attractiveness of acquiring this company.

It definitely needs mentioned, however, that $12.5 million of their “marketable” securities are currently frozen in ARS. Although, significant steps have been made recently regarding banks repurchasing these bonds, so it looks much better now than a few months ago.

]]> By: Kevin Mathers http://pokerati.com/2008/10/11/re-sinking-wpte-stock-prices-wsop-andor-full-tilt-to-buy-the-world-poker-tour/comment-page-1/#comment-159180 Kevin Mathers Sun, 12 Oct 2008 22:29:27 +0000 http://pokerati.com/?p=4552#comment-159180 If Stars or FTP buy the WPT, won't they have to move most of the tournaments outside the US (unless they try to run it under the .net moniker). If the UIGEA gets repealed, then I think it would make the WPT that much more valuable of a property. The first Harrah's WSOP Circuit event drew smaller entries year over year (the Caesars Indiana Me drew 84, down from 144 last year); so Harrah's may not be interested in adding another poker tour to their roster. If Stars or FTP buy the WPT, won’t they have to move most of the tournaments outside the US (unless they try to run it under the .net moniker). If the UIGEA gets repealed, then I think it would make the WPT that much more valuable of a property. The first Harrah’s WSOP Circuit event drew smaller entries year over year (the Caesars Indiana Me drew 84, down from 144 last year); so Harrah’s may not be interested in adding another poker tour to their roster.

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