Doyle Brunson attempting to buy WPT - Page 4

ChuckyB · #31 07-08-2005, 06:00 PM

I'm sure he had to put up some cash. But you'd have to think the presence of His name is equivalent to cash in this deal. Gotta be worth a few million anyway.

ChuckyB · #32 07-08-2005, 06:06 PM

Party Poker went public on June 27 on the London exchange. Initial valuation -- $8.48 billion. Each share today goes for 148p

BaggyAnt · #33 07-08-2005, 06:12 PM

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I agree. I cannot see much value in WPT stocks.
But Poker is hot and people try to invest in Poker stocks.

Does anyone know any other poker stock that we can invest?

I hope Pokerstars does an IPO. I will buy.

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I hope that Pokerstars DOESN'T float actually, it's one the very few poker sites that treats players well. Do you really think that would carry on if they had investors to pay out to?

tek · #34 07-08-2005, 06:43 PM

Remember one thing guys--gaps get filled...

Solitare · #35 07-08-2005, 07:25 PM

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I hope that Pokerstars DOESN'T float actually, it's one the very few poker sites that treats players well. Do you really think that would carry on if they had investors to pay out to?

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I want as many of these poker sites to go public as possible. My hope is that increased competition and financial visibilty will result in significantly reduced rake levels.

judgesmails · #36 07-08-2005, 07:57 PM

That was exactly my first thought. I don't think he can scrape up that kind of scratch and why would he at his age? He is helping his buddies out will get a kickback after they sell some shares next week.

DesertCat · #37 07-08-2005, 08:19 PM

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so you would bet against Brunson.

Has that historically been a winning move?

He adds value, probably a lot.

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I missed out on hearing about Doyle Brunson's great successes in stock market investing. Care to enlighten us? Thought so.

This article says his team wants to pay $37 a share for a company that hasn't yet made 20 cents a share in profit, and might someday earn $2 per share if all goes perfectly. Doyle better be adding a great deal of value as that offer is very, very, optimistic. Wonder why they didn't try the typical merger offer (a 20-40% premium) before agreeing to a higher premium in negotiations with the board? Thats how most legitimate deals are done.

Is it possibly because someone is trying to temporarily pump the stock with an offer that lacks sufficient financing and will soon be withdrawn? Wonder who's selling shares today?

duma · #38 07-08-2005, 08:31 PM

i am hating myself right now, i sold my 100 shares of WPTE about 4 months ago from not seeing any returns. could have sit on it for a while longer and waited for something like this to happen. i hate the stock market!

pokergripes · #39 07-08-2005, 10:15 PM

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So what exactly does the WPT represent....I generally stay away from stocks that do not have anything tangible behind them.

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That was my first thought too - do they have any patents or exclusive rights to anything (aside from their own footage, of course)? If not, then this company is a very precarious holding, at best. No patents, no exclusive rights, no innovative techniques really (at least nothing that isn't trivial for a competitor to accomplish) - it seems to me that all the value their stock has is based solely on the fact that theyre atop the heap for the moment, and that doesn't seem like a very good reason for investing in a company (Iomega was atop the heap for a moment once, too).

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That's a perfect description of...AOL, EBay, and a ton of other similar companies. So, you should probably short all those "top of the heap for now" stocks... [img]/images/graemlins/smile.gif[/img]

newfant · #40 07-08-2005, 11:19 PM

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Is it possibly because someone is trying to temporarily pump the stock with an offer that lacks sufficient financing and will soon be withdrawn? Wonder who's selling shares today?

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Well, the market isn't quite buying the deal, yet. Like Stock Whiz said, Doyle is offering $35 a share, but the stock only traded up to $27 today. There must be quite a few people who don't believe this deal is going to happen or else the stock would have traded up close to $35 today.

As far as I know, it's very unusual for someone or some company to announce a takeover and then, after the deal is announced, for there still to be a 33% gap between the takeover price and the stock price.