Doyle Brunson attempting to buy WPT
 

yep

Re: Doyle Bruson attempting to buy WPT
 

Didn't someone just write an article about how Doyle should step up?!

Looks like he read it!!

Re: Doyle Brunson attempting to buy WPT
 

So the article says that Doyle offered a "100% premium" over the $17.74 closing price. Wouldn't that put the offer at ~$36 a share? How come the stock only traded up to 22-24?

It doesn't seem like investors believe this deal is going to happen.

Re: Doyle Brunson attempting to buy WPT
 

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So the article says that Doyle offered a "100% premium" over the $17.74 closing price. Wouldn't that put the offer at ~$36 a share? How come the stock only traded up to 22-24?

It doesn't seem like investors believe this deal is going to happen.

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I didn't read the link, but in response to your question, I doubt Doyle would buy 100% of the stock. Even if it happens, I would say investors don't value it the same as Doyle.

Re: Doyle Brunson attempting to buy WPT
 

If the bid is $700 million.. he's buying 100% of the stock (therefore taking it off the public exchange).

I highly doubt he's paying $700 million for 80% of the stock, which would be a 150% premium.

Re: Doyle Brunson attempting to buy WPT
 

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If the bid is $700 million.. he's buying 100% of the stock (therefore taking it off the public exchange).

I highly doubt he's paying $700 million for 80% of the stock, which would be a 150% premium.

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Yeah, Doyle is definitely trying to buy the whole kit and caboodle. As near as I can figure, the market was valuing WPT at ~$360 million before Doyle's $700 million dollar bid, so Doyle is offering close to a 100% premium.

However, the market is currently valuing WPT at ~$500 million so the market seems to be doubting somewhat that this deal will go through. Might be an arbitrage opportunity here somewheres.

Re: Doyle Brunson attempting to buy WPT
 

wpte up 45% today!!!! It is going down.

Re: Doyle Brunson attempting to buy WPT
 

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Even if the investors don't believe
I didn't read the link, but in response to your question, I doubt Doyle would buy 100% of the stock. Even if it happens, I would say investors don't value it the same as Doyle.

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If it happens, it doesn't matter what the investors think its value is, they are going to get the large premium on what they think it's actually worth.

Re: Doyle Brunson attempting to buy WPT
 

Either way, I think it's a good sign for WPTE investors.. whether the deal goes through or not.

It means WPTE is confident that the stock price will be worth more than that. If they are competent businessmen, then it's a good sign for investors, and the price will eventually reach that level anyway.

If I were WPTE, I would grab this offer with both fists.. I think they are foolish if they don't.

Re: Doyle Brunson attempting to buy WPT
 

From the Brunson quote, or lack thereof, he would seem to be the face and name for a larger group of folks - and it would seem from the reaction of WPTE that the bid is considered (by them) to be just slightly hostile...

Re: Doyle Brunson attempting to buy WPT
 

Didnt think DOyal had the much money. Good for him. I own the WPT unfortunaly its only a cuple hundred shares......

Re: Doyle Brunson attempting to buy WPT
 

still a great time to buy - should be priced at $35 - will be by the end of today or monday morning

Re: Doyle Brunson attempting to buy WPT
 

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It means WPTE is confident that the stock price will be worth more than that. If they are competent businessmen, then it's a good sign for investors, and the price will eventually reach that level anyway.


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Incumbent management always spouts that nonsense in the face of a hostile takeover bid. After all, if the bid succeeds, they lose their jobs.

Re: Doyle Brunson attempting to buy WPT
 

They lose there jobs, but I'm sure they have quite a fistful of stock options, severance packages.

Re: Doyle Brunson attempting to buy WPT
 

This has to be a sign of the poker peak. Buy high?? sell higher?? I don't think so. Interesting if Mr. Cramer mentions it tonight on his show.

Re: Doyle Brunson attempting to buy WPT
 

http://finance.yahoo.com/q/bc?s=WPTE&t=5d

Doyle has backers, its not all his money. He is probobly not even putting that much into it.

http://en.wikipedia.org/wiki/Private_equity

Re: Doyle Brunson attempting to buy WPT
 

Of course he has backers. I wouldn't be surprised if Doyle is putting very little of his own $ in. Probably just getting options and a exec title.

Re: Doyle Brunson attempting to buy WPT
 

He's probably just throwing this out there so his friends that are into WPTE can make a nice profit and sell before the deal "falls through for unexplained reasons"

Re: Doyle Brunson attempting to buy WPT
 

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He's probably just throwing this out there so his friends that are into WPTE can make a nice profit and sell before the deal "falls through for unexplained reasons"

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Exactly....created a nice spike in share price. So what exactly does the WPT represent....I generally stay away from stocks that do not have anything tangible behind them. I don't understand how the market cap of this stock is around $300 million. It hosts a bunch of WPT events and started an online site that can not have American players on it.

Re: Doyle Brunson attempting to buy WPT
 

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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).

Re: Doyle Brunson attempting to buy WPT
 

so you would bet against Brunson.

Has that historically been a winning move?

He adds value, probably a lot.

Re: Doyle Brunson attempting to buy WPT
 

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It hosts a bunch of WPT events and started an online site that can not have American players on it.

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Hosts isn't even the correct word. The players pay the entire prize pools, every one of these tournaments existed prior to the WPT, the casinos provide the venue. WPT simply puts up some flashing lights provides some cameras and keep Mike Sexton in the style he has become accustomed to.

Hopefully a player-backed takeover will work to enhance the tournament trail for the player base.

Fm

Re: Doyle Brunson attempting to buy WPT
 

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.

Re: Doyle Brunson attempting to buy WPT
 

Cryptologic, las vegas from home, sportingbet and a few others.

Re: Doyle Brunson attempting to buy WPT
 

Bradley how has your short interest in WPTE done today? Do you believe me now? WPTE to $35 by the end of next week.

Re: Doyle Brunson attempting to buy WPT
 

Market cap is now 700 million I believe with todays stock price.

Re: Doyle Brunson attempting to buy WPT
 

I would guess that the unamed invetors to be Andy Beal

Re: Doyle Brunson attempting to buy WPT
 

At $35, the market cap is $700 million. Should be a good week next week.

Re: Doyle Brunson attempting to buy WPT
 

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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 own shares of Lakes Entertainment (LACOE), the company that owns 62% of WPT...it too was up approx. 22% today.

Re: Doyle Brunson attempting to buy WPT
 

Doyle isn't buying 100% of the WPT. He's the front-man for investors wanting to buy it. No doubt Doyle has a whack of dough to invest in this, but it's not all his $700 million.

Re: Doyle Brunson attempting to buy WPT
 

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.

Re: Doyle Brunson attempting to buy WPT
 

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

Re: Doyle Brunson attempting to buy WPT
 

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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?

Re: Doyle Brunson attempting to buy WPT
 

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

Re: Doyle Brunson attempting to buy WPT
 

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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.

Re: Doyle Brunson attempting to buy WPT
 

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.

Re: Doyle Brunson attempting to buy WPT
 

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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?

Re: Doyle Brunson attempting to buy WPT
 

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!

Re: Doyle Brunson attempting to buy WPT
 

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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]

Re: Doyle Brunson attempting to buy WPT
 

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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.