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World Poker Tour Sold To Ourgame Overseas



The WPT expanded under bwin.party, but was ultimately a loss-making acquisition tool. New owner Ourgame desires the brand to help it to grow into a ‘global social gaming company.’

The World Poker Tour is sold to a Hong Kong-based social news games developer for $35 million in cash.

Owner bwin.party confirmed the sale, to Ourgame International Holdings Ltd, early adding that the deal had no bearing on the acquisition talks surrounding the rest of its assets monday.

The WPT was a ‘non-core asset of the team,’ a company spokesperson said, emphasizing the sale that is recent of units, such as Win, the organization’s social video gaming arm.

Bwin happens to be in negotiations with 888 Holdings, which has provided a cash that is undisclosed paper bid to get the organization in its entirety, and Amaya Inc and GVC Holdings, that have proposed a €1.5 billion ($1.7 billion) joint bid that would basically divvy up bwin.party’s assets between the two.

User Acquisition Tool

Ourgame, a relatively unknown company in the English-speaking world, is listed on the Hong Kong Stock market and specializes in online multi-platform card-based social games for the Chinese and East Asian markets, where it has 30 million active monthly users.

In 2014 its games brought in revenues of $76.7 million, and in December that year Ourgame acquired the liberties to use the WPT brand in 14 countries across East Asia, including China, Malaysia, Korea, Vietnam and the Philippines. The two businesses cooperated on the organization of the WPT China, late year that is last.

Under the terms of this agreement, bwin.party will continue to sponsor events on the trip in Europe and North America until 31, 2016 december.

The WPT ended up being really a customer acquisition tool for bwin.party. Last year it yielded a reported total revenue of around $11.8 million, and a loss at the clean profits, before interest, taxation, depreciation and amortization, of $4.6 million

Since it acquired the WPT from creator Steve Lipscomb’s WPT Enterprises, for $12.3 million, bwin.party has grown the trip from a set of 16 main event stops to more than 70 occasions around the world, using the addition of WPT Alpha8, WPT National and WPT DeepStack events.

Ourgame says that the purchase will help it to grow to right into a international social video gaming brand.

‘Over the past six years we’ve built WPT into a franchise that is global with tournaments and TV deals in many countries including Asia, where poker remains a popular and growing sport,’ stated Martin Weigold, primary financial officer of bwin.party. ‘However, consistent with our strategy of divesting our non-core assets, we believe that now is the right time and energy to launch that value for investors so that people can focus our efforts on our core a real income gaming and technology business.’

Ourgame is definitely an ‘incredible technology business,’ said Adam Plisksa, president and CEO of WPT, ‘and that was our greatest weakness.’

Bryan Micon Expected In Court On Thursday

Bryan Micon will return to Nevada to create a scheduled court date this Thursday. (Image: CalvinAyre.com)

Bryan Micon is coming straight back to America to face the music regarding the cost filed against him by Nevada authorities.

According to court documents, Micon is anticipated to create a court appearance at a hearing, and defense lawyer david chesnoff has said that he expects micon to be there for the court date thursday.

Micon was the chairman of Seals with Clubs, A bitcoin-based online poker room that was shut down earlier this present year after a February raid on Micon’s Las Vegas residence.

That has been one of the series of events, including a variety of technical difficulties, which apparently led all of those other Seals with Clubs management team to shut down store.

Raid Contributes to Arrest Warrant

While Micon was released with no fees filed against him after the raid, authorities did seize some computers and other electronic gear that belonged to him.

In April, Nevada officials issued an arrest warrant for Micon, alleging that he had operated an unlicensed gaming that is interactive in their state.

But by that point, Micon had taken refuge in Antigua with their family, having flown here soon after the raid that is initial. Micon’s return for the court hearing generally seems to be the time that is first has stepped base in the usa since leaving several months ago.

Micon has since launched a new version regarding the site, known as swcpoker.eu, which is additionally a Bitcoin-only poker website.

Last week, ahead of the scheduled court appearance, a judge recalled Micon’s arrest warrant, which allowed him to freely travel right back to Nevada. In accordance with court records, Micon will probably face a brief booking at the Clark County Detention Center, but should then be released on his own recognizance.

Chesnoff Defends Another Tall Profile Client

In the event that name of Micon’s lawyer strikes you as familiar, it is probably it frequently in gambling-related cases over the past year, as well as in stories about cases involving other celebrity clients because you have been seeing.

Chesnoff was a key member of the defense team that eventually got all charges dismissed against Paul Phua, the Malaysian businessman and high stakes poker player whom was accused of running an illegal World Cup sports betting ring from a villa at Caesars Palace.

For the reason that situation, Chesnoff was successful in having almost all of this evidence against Phua dumped of court due to FBI tactics that were later on deemed unconstitutional by way of a judge.

Chesnoff additionally represented Instagram star Dan Bilzerian after he was charged with counts related to bomb-making following the detonation of the homemade explosive, spreading parts of a tractor-trailer cab across public lands outside Las Vegas.

In that instance, Bilzerian avoided much more serious charges and instead entered a misdemeanor, for which he paid a find and recorded a public service announcement for the Bureau of Land Management.

Micon could potentially face consequences a lot more severe than either Phua or Bilzerian, making the stakes even higher for Chesnoff and his latest client.

If Micon is available guilty on the unlicensed gaming that is interactive charge, he could potentially confront ten years and jail and a $50,000 fine.

Ladbrokes and Gala Coral Proposed Merger Could Form Bookmaking Superpower

Jim Mullen, Ladbrokes CEO, claims: ‘A merger has the potential to create substantial cost synergies, creating value for both companies’ shareholders.’ (Image: standard.co.uk)

Ladbrokes and Gala Coral, two of Britain’s largest wagering organizations, have begun negotiations over a merger that is possible which, if realized, would produce a bookmaking superpower.

An alliance associated with the two companies would create a group with almost 4,000 street that is high shops across the UK, dwarfing the incumbent market leader William Hill, which has around 2,400 outlets.

But there isn’t any certainty that the discussions, which center on combining Ladbrokes with Coral Retail, Eurobet Retail, and Gala Coral’s online firms, will lead to an understanding, Ladbrokes stressed in a pr release.

CEO Jim Mullen said that the board had been still determining whether a deal could be the move that is right the company.

‘A merger with Gala Coral could create a combined business with significant scale and has the potential to create cost that is substantial, creating value for both companies’ shareholders. The Board has perhaps not yet concluded whether a transaction is strategically appealing and will be sent to investors on appropriate terms,’ Mullen said.

Digital Enhancement

But, a consolidation associated with the two companies’ online operations may prove to be appealing to Ladbrokes. Mullen had been earned three months ago to shore up the business’s digital arm, which recorded shaky leads to 2014. Total profits that are online the year fell over 70 percent, from £10.8 million ($16.9m) to £3 million ($4.7m), while poker reported a 31 percent fall in revenue. On the web poker now makes up about just 2 percent of digital revenues, the ongoing company said.

Over all its operations, Ladbrokes reported a big autumn in pre-tax revenue for 2014, from £68m ($106.8m) to £38m ($59.7m). The company said that it expected to shut 60 UK stores this present year.

‘Since becoming CEO my focus was on an even more plan that is aggressive build digital scale and grow our recreational client base across all channels, which is key to making a more sustainable and growing Ladbrokes,’ said Mullen, who previously oversaw the development of main rivals William Hill’s online operations. ‘My plans are well advanced and I also look ahead to presenting them to shareholders.’

1998 Acquisition Attempt

Ladbrokes previously attempted to purchase Coral back in 1998, nevertheless the acquisition was vetoed by the Trade and Industry Secretary Peter Mandelson. The effect of removing Coral as an important third national force that is competitive the off-course betting market, would, said Mandelson, ‘lead to a weakening of price competition during the nationwide level; a dampening effect on innovation; and a reduction in consumer choice.’

If completed, the offer would be structured as being a reverse takeover of publicly traded Ladbrokes by Coral, which is owned by private equity firms.

New Documents Reveal Pete Rose Bet on Baseball as Player

New documents reveal that Pete Rose gambled on the Reds while he was still playing for the group. (Image: USATSI)

Pete Rose admitted more than a decade ago that he had bet on baseball while the manager of the Cincinnati Reds, and that alone was ample for Major League Baseball to justify maintaining Rose forever ineligible to be involved in baseball tasks.

But Rose has always maintained, up through in 2010, which he never made such bets when he had been a person.

Now it seems as though even Rose’s partial defense might have been a lie.

A former associate of Rose’s, by the US Postal Inspection Service in October 1989 on Monday, ESPN’s Outside the Lines published pages they obtained from a notebook that was collected as part of a raid on the home of Michael Bertolioni.

Notebook Programs Bets from 1986

Within the notebook, there are details of wagers by Rose that took place in 1986, the year that is final of playing profession when he served as a player-manager for the team. The pages revealed by Outside the Lines cover betting activity that covers March through 1986 july.

Critically, the notebook doesn’t show any evidence (or recommendation) that Rose ever bet against the Reds at any time. Whilst not everything in the material is legible, the book does show that Rose bet on baseball on at the very least thirty days throughout that duration.

On 21 of those times, there had been bets by Rose on the Reds, including on at least some games that Rose played in himself. Rose also bet heavily on other sports, specially on basketball.

Most of Rose’s bets were for $2,000, regardless of the sports he was betting on. His single biggest bet had been a $5,500 wager regarding the Boston Celtics, one that he lost.

Dowd Finds Closure from Documents

For John Dowd, the former federal prosecutor who headed up the Major League Baseball investigation into Rose’s betting and lent his name towards the infamous Dowd Report that led to Rose’s ban from baseball, this new information served as a vindication associated with work he did back 1989.

‘This does it,’ Dowd stated. ‘ This closes the door.’

The information in Bertolini’s notebook was unknown so far because it comes down from a study into mail fraud and had nothing at all to do with Rose or gambling in general.

Subsequently, the notebook has been under a court-ordered seal in this new York office associated with the National Archives, and officials have declined to discharge it publically.

Outside the Lines had Dowd review the newly revealed papers as a part of their tale.

‘We knew that [Bertolini] recorded the bets, and himself, but we never had his records,’ Dowd said that he bet. ‘This is the last little bit of the puzzle on a brand New York betting operation with organized crime. And, of course, [Rose] betting while he was a player.’

New Info May Scuttle Reinstatement

The reveal is likely to be a setback that is major Rose, whom recently applied for reinstatement with brand new commissioner Rob Manfred.

However, Rose’s lawyer issued a statement saying that they will never comment regarding the developments that are new.

‘that we would not comment on specific matters relating to reinstatement,’ the statement read since we submitted the application earlier this year, we committed to MLB. ‘I have to maintain that. To be sure, I’m eager to sit down with Manfred to address my whole history—the good and the bad—and my long personal journey since baseball.’

Pete Rose played in the major leagues, mainly with all the Reds, from 1963 to 1986, during which time he collected a record that is all-time of hits.

But in 1991, the Baseball Hall of Fame voted to exclude anyone on the ineligible list from being considered planet 7 oz australia for inclusion, that has held Rose from being honored as one of baseball’s all-time greats.

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