MicroBob
04-19-2004, 10:51 PM
of possible interest to some of you....
Saturday, April 17, 2004
Copyright © Las Vegas Review-Journal
Harrah's all in for first tourney
Company goal: Biggest, best World Series of Poker ever
By TOM DE MARTINI
SPECIAL TO THE REVIEW-JOURNAL
Binion's Horseshoe World Series of Poker tournament coordinator Steve McDonald, left, and Vice President Wade Faul discuss logos April 8 for this year's tournament, which is slated to begin Thursday. The championship round will begin May 22.
PHOTO
Poker players and casino industry insiders hope that this year's World Series of Poker at Binion's Horseshoe will be a turning point in the storied tournament's 35-year history.
Some of them say the signature event of the poker world became somewhat tarnished under the direction of former Binion's owner Becky Binion Behnen.
But Harrah's Entertainment stepped in, much to the relief of industry insiders.
"Harrah's has saved the World Series of Poker, and this is good for everyone," said Bobby Baldwin, the 1978 World Series winner who is now president and chief executive officer of Mirage Resorts and Bellagio.
Harrah's Entertainment and MTR Gaming Group on March 11 completed a buyout of Behnen. MTR bought the 52-year-old downtown landmark for about $20 million, while Harrah's retained the poker tournament and rights to the Horseshoe brand name in Nevada for the remainder of what has been estimated to be a $50 million deal.
"Harrah's is a big company and has probably hired a big staff to do the job," said Jeff Shulman, president of Card Player Magazine, a poker trade publication.
Harrah's spokesman David Strow said his company has no estimate of how much revenue will be generated from the series.
"We don't have an estimate simply because it's our first year," he said. "We could even end up putting more in than we get out of it. At this point, our goal is to host the biggest and best World Series of Poker ever."
Strow and poker insiders agree, however, that the real point is not immediate profits, but the prestige of hosting the biggest event in poker.
"We're stoked. Poker is enjoying a renaissance and we're now hosting the biggest, the the most famous, poker event on the planet. We can't wait for it to get under way," Strow said.
Baldwin stressed that the entire town and industry will benefit from a successful World Series.
"The World Series of Poker has been great for Las Vegas," Baldwin said. "It gets a lot of media exposure, the players love it and it has continued to grow over the last 30-plus years.
"The players are showing an interest in playing against each other as opposed to playing against the house. They'll gladly pay their rent for the seat in lieu of the house advantage in other games."
Industry insiders say that tensions between Behnen, poker players, tournament directors and card dealers rose noticeably during recent World Series, even to the point of driving former champions away.
"It's no secret that a lot of the elite tournament players were butting heads with the old regime," said Anthony Curtis, publisher of the Las Vegas Advisor. "They had a great relationship when Jack Binion was there, and that sort of deteriorated."
One example Curtis cited was the absence of 1994 World Series of Poker champion Russ Hamilton from the tournament. Curtis believes Hamilton was barred from taking part.
"He didn't see eye-to-eye with (former) management there and I'm sure he didn't decide on his own not to play," Curtis said.
Poker players who plunk $10,000 to participate in the World Series expected -- and largely did not receive -- the type of attention they require when participating in a major event.
Card Player's Shulman said a key aspect of a running a successful tournament is the treatment and comfort of the players.
"Player treatment is important in any tournament, whether it's in the U.S. or in Europe," said Shulman. "The odds are that if players are treated well, they'll come back. It's just like a restaurant. If you get that level of quality service, you'll return."
Harrah's will keep the finals of the World Series at Binion's in 2005 to help celebrate the Las Vegas centennial. It's widely expected that the company will then move the tournament to one of its other properties.
However, a move likely won't hurt the tournament's luster and might be a welcome change.
"Harrah's has probably planned this out carefully. There's always a knee-jerk reaction when things are changed all at once. Weaning it away (from downtown) is a good way to go," Curtis said.
"The location really won't matter," Shulman said. "If you treat the players right, they'll follow."
Company officials said in January that Harrah's Entertainment CEO Gary Loveman has no intention of moving the World Series out of Las Vegas.
The change in management couldn't have come at a better time for Harrah's or the World Series. The explosion of poker on television and online, is likely to translate into one of the biggest and richest events ever held at the downtown landmark.
Officials expect more than 1,200 players to participate in the Texas hold'em championship final May 22-28. A prize exceeding $3 million will be paid to the winner; the exact amount is determined by the number of entrants.
Thirty-three events, beginning Thursday, will offer poker players the opportunity to collect their share of more than $20 million in prize money.
"We expect this to be the biggest World Series ever," said Gary Thompson, a Harrah's spokesman. "This is a reflection of the rapid growth of poker and the television events over the last few years. It's a testament to the legendary Binion's Horseshoe and the role its played in the World Series."
The World Series of Poker, an annual Las Vegas event since its 1970 inception, has seen its popularity and participation rise in meteoric fashion.
Last year, 839 players paid the $10,000 entrance fee or won their way into the World Series through satellite tournaments in person or by online poker sites.
Chris Moneymaker, 27-year-old Tennessee accountant, qualified for the last year's tournament online and walked away with the $2.5 million top prize.
Preliminary events run through May 21. The first official tournament open to the public is a $2,000 buy-in no limit contest April 23.
Advance registration for the tournament is available by calling (877) 367-9767 and paying the registration fee via wire transfer. Players can also register at the Horseshoe during the tournament.
Saturday, April 17, 2004
Copyright © Las Vegas Review-Journal
Harrah's all in for first tourney
Company goal: Biggest, best World Series of Poker ever
By TOM DE MARTINI
SPECIAL TO THE REVIEW-JOURNAL
Binion's Horseshoe World Series of Poker tournament coordinator Steve McDonald, left, and Vice President Wade Faul discuss logos April 8 for this year's tournament, which is slated to begin Thursday. The championship round will begin May 22.
PHOTO
Poker players and casino industry insiders hope that this year's World Series of Poker at Binion's Horseshoe will be a turning point in the storied tournament's 35-year history.
Some of them say the signature event of the poker world became somewhat tarnished under the direction of former Binion's owner Becky Binion Behnen.
But Harrah's Entertainment stepped in, much to the relief of industry insiders.
"Harrah's has saved the World Series of Poker, and this is good for everyone," said Bobby Baldwin, the 1978 World Series winner who is now president and chief executive officer of Mirage Resorts and Bellagio.
Harrah's Entertainment and MTR Gaming Group on March 11 completed a buyout of Behnen. MTR bought the 52-year-old downtown landmark for about $20 million, while Harrah's retained the poker tournament and rights to the Horseshoe brand name in Nevada for the remainder of what has been estimated to be a $50 million deal.
"Harrah's is a big company and has probably hired a big staff to do the job," said Jeff Shulman, president of Card Player Magazine, a poker trade publication.
Harrah's spokesman David Strow said his company has no estimate of how much revenue will be generated from the series.
"We don't have an estimate simply because it's our first year," he said. "We could even end up putting more in than we get out of it. At this point, our goal is to host the biggest and best World Series of Poker ever."
Strow and poker insiders agree, however, that the real point is not immediate profits, but the prestige of hosting the biggest event in poker.
"We're stoked. Poker is enjoying a renaissance and we're now hosting the biggest, the the most famous, poker event on the planet. We can't wait for it to get under way," Strow said.
Baldwin stressed that the entire town and industry will benefit from a successful World Series.
"The World Series of Poker has been great for Las Vegas," Baldwin said. "It gets a lot of media exposure, the players love it and it has continued to grow over the last 30-plus years.
"The players are showing an interest in playing against each other as opposed to playing against the house. They'll gladly pay their rent for the seat in lieu of the house advantage in other games."
Industry insiders say that tensions between Behnen, poker players, tournament directors and card dealers rose noticeably during recent World Series, even to the point of driving former champions away.
"It's no secret that a lot of the elite tournament players were butting heads with the old regime," said Anthony Curtis, publisher of the Las Vegas Advisor. "They had a great relationship when Jack Binion was there, and that sort of deteriorated."
One example Curtis cited was the absence of 1994 World Series of Poker champion Russ Hamilton from the tournament. Curtis believes Hamilton was barred from taking part.
"He didn't see eye-to-eye with (former) management there and I'm sure he didn't decide on his own not to play," Curtis said.
Poker players who plunk $10,000 to participate in the World Series expected -- and largely did not receive -- the type of attention they require when participating in a major event.
Card Player's Shulman said a key aspect of a running a successful tournament is the treatment and comfort of the players.
"Player treatment is important in any tournament, whether it's in the U.S. or in Europe," said Shulman. "The odds are that if players are treated well, they'll come back. It's just like a restaurant. If you get that level of quality service, you'll return."
Harrah's will keep the finals of the World Series at Binion's in 2005 to help celebrate the Las Vegas centennial. It's widely expected that the company will then move the tournament to one of its other properties.
However, a move likely won't hurt the tournament's luster and might be a welcome change.
"Harrah's has probably planned this out carefully. There's always a knee-jerk reaction when things are changed all at once. Weaning it away (from downtown) is a good way to go," Curtis said.
"The location really won't matter," Shulman said. "If you treat the players right, they'll follow."
Company officials said in January that Harrah's Entertainment CEO Gary Loveman has no intention of moving the World Series out of Las Vegas.
The change in management couldn't have come at a better time for Harrah's or the World Series. The explosion of poker on television and online, is likely to translate into one of the biggest and richest events ever held at the downtown landmark.
Officials expect more than 1,200 players to participate in the Texas hold'em championship final May 22-28. A prize exceeding $3 million will be paid to the winner; the exact amount is determined by the number of entrants.
Thirty-three events, beginning Thursday, will offer poker players the opportunity to collect their share of more than $20 million in prize money.
"We expect this to be the biggest World Series ever," said Gary Thompson, a Harrah's spokesman. "This is a reflection of the rapid growth of poker and the television events over the last few years. It's a testament to the legendary Binion's Horseshoe and the role its played in the World Series."
The World Series of Poker, an annual Las Vegas event since its 1970 inception, has seen its popularity and participation rise in meteoric fashion.
Last year, 839 players paid the $10,000 entrance fee or won their way into the World Series through satellite tournaments in person or by online poker sites.
Chris Moneymaker, 27-year-old Tennessee accountant, qualified for the last year's tournament online and walked away with the $2.5 million top prize.
Preliminary events run through May 21. The first official tournament open to the public is a $2,000 buy-in no limit contest April 23.
Advance registration for the tournament is available by calling (877) 367-9767 and paying the registration fee via wire transfer. Players can also register at the Horseshoe during the tournament.