WPT Enterprises Recieves a Last Minute Offer

$36.5m proposal from Entertainment Company

by , Oct 29, 2009 | 5:39 pm

With a scheduled vote for tomorrow from Peerless Media from their offer for the World Poker tour, comes word of a proposal from Mandalay Media on Tuesday, offering $35 million or $1.69 per share for the company. Mandalay Media is requesting a postponement of the shareholder vote to meet with the board of WPTE to further discuss the offer. More details from this article over at Reuters.

(Hat tip goes to Wicked Chops Poker for the story)

UPDATE: Mandalay’s offer increased to $36.5m Friday morning.

4 Comments to “WPT Enterprises Recieves a Last Minute Offer ”

  1. Fifth Street Journal

    They already increased the offer. It sounds like negotiation is going on.

  2. Mean Gene

    You just know that in the end Google is going to buy the WPT for $11.3 Billion, outbidding Goldman Sachs at the bitter end.

  3. Kevin Mathers

    Third in the bidding will be the mysterious group led by Doyle Brunson.

  4. ChrisC

    1.69 is far to generous. I hate to say it but the WPT will not be around for much longer in its current form. With the popularity being far from its peak wall st. will not be to interested, not that they ever really were, in this company.

    Being that it is pretty much a penny stock with fewer interested viewers outside the real poker diehards they are simply not that interesting anymore. It would make sense that a casino purchase the remaining company and use it to cross promote its properties, but short of that there is very little value in the WPT.