Posts Tagged ‘wpt enterprises’

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.


PartyGaming Outbids Gamynia for WPT Assets

by , Aug 24, 2009 | 1:56 pm

At least we’ve heard of this company, right? It just came over the wire (errr, internet) that the Gamynia deal has been terminated in favor of an agreement to allow a PartyGaming subsidiary, Peerless Media Ltd., to purchase the WPT assets for a cool $12.3 million. Check ‘er out:

PartyGaming Moves For World Poker Tour Assets with Superior Offer

LOS ANGELES, Aug 24, 2009 (BUSINESS WIRE) — WPT Enterprises, Inc. (Nasdaq: WPTE) (“WPTE” or the “Company”) today announced that a subsidiary of PartyGaming Plc, Peerless Media Ltd. (“Peerless Media”), has agreed to purchase substantially all of WPTE’s operating assets other than cash, investments and certain excluded assets. WPTE’s Board of Directors received the offer after privately held investment group, Gamynia Limited, and WPTE announced an asset acquisition agreement, which was terminated after further consideration of the Peerless Media’s financial proposal.

More…


World Ponzi Tour

Lyle Berman takes a bath with Bernie Madoff fraud

by , Feb 9, 2009 | 2:28 pm

Tough times for Lyle Berman … the World Poker Tour and PokerTek honcho apparently lost a bunch of money to the Russ Hamilton of Wall Street.


WPT Layoffs

by , Jul 8, 2008 | 3:42 pm

As Dan mentioned in his Steve Lipscomb interview post, there were some layoffs at WPT Enterprises last week. My sources tell me that there were approximately 10 people let go, primarily from the online and interactive departments that handle the WPT store and website content. This is starting to hit home with me now because two of those people were friends from my days as an accountant at the WPT offices, and while the majority of the employees are said to have been on edge about the possibility of layoffs, it always hurts to be let go from a company to which you’ve been loyal for four or five years.

WPTE wouldn’t confirm the number of people let go, if there would be more, or what departments were trimmed, but Lipscomb did provide an official statement:

“WPT Enterprises is undergoing a reorganization to meet the future demands of our business and changes in the marketplace we inhabit. All decisions affecting members of the WPTE family are extremely difficult decisions, but this reorganization is vital to creating and sustaining a growing business. WPTE has taken great care to ensure smooth and successful transitions for all former and existing WPT staff.”


For Only a Buck…

by , Jun 18, 2008 | 4:24 pm

You, too, can own a piece of the World Poker Tour. Maybe by tomorrow, shares will be on sale at the 99 Cent Store.

The stock price for WPT Enterprises, Inc. (WPTE on NASDAQ) hit $1.00. I’m not kidding.

While some people are buying it up in the hopes that someone will throw Lipscomb a life raft, word is that the WPTE employees are handing out resumes faster than players can buy in to a $1500 NLHE event at the WSOP. Even so, the World Poker Tour is still planning to hit Vegas for the Bellagio Cup in a few weeks to film the first episode of Season VII. Could be an interesting vibe over there!