What's going on with the WPT bid? Online gambling players listen up, this is interesting. Shares for
WPT Enterprises Inc's fell today after the $700 million bid from famous US poker champ Doyle Brunson fell apart. Now land casino gamblers and online casino gamblers alike are wondering if the whole thing was just an attention grabbing hoax.
Late yesterday, a spokesperson for the gaming company had a conversation with the poker champ, who then let it be known that he would provide no further info about the cloudy deal.
The bid started a 100% premium hike in WPT's closing price last Thursday when the market valued the company at about $357 million. The deal valued the company's shares to be worth nearly $36.50 a piece.
WTO says
it has tried many times to obtain details for the bid with the champ declining any further help.
At this time, it is not clear if financial issues put a stop to the offer or what. Informed business analysts doubted the sincerity of the bid from the beginning.
The main issue at hand is that the start of the deal caused stock in the company to gain incredibly. Was it all smoke and mirrors?
T
he potential of WPT's online gambling operations started about 2 weeks ago has drawn interest in the company as well.
We will continue to follow this most interesting of events here at Gambling PhD.
