The Death of the WPT??

[Vee Quiva]

Deloitte resigned because of the Department of Justice's stance that online poker is illegal in the United States. They were fine until the WPT decided to open their online poker site.

With all the legal pitfalls of being an auditor these days, I can see why Deloitte would take a walk.

ok, so WPT was too small a client to bother with online gaming risk says the news release here:

http://shareholder.com/wpt/ReleaseDe...leaseID=167780

looks like the timing is coincidental with the Doyle bid... so who is going to audit them if Deloitte won't?

the auditor isn't the problem though... it is the competition from the big networks.

[Jimbo]

[ QUOTE ]
Deloitte resigned because of the Department of Justice's stance that online poker is illegal in the United States. They were fine until the WPT decided to open their online poker site.

With all the legal pitfalls of being an auditor these days, I can see why Deloitte would take a walk.

[/ QUOTE ]

Never in the history of man in the USA has a company been successfully prosecuted for performing a business legal in the jurisdiction where it was being operated without breaking other laws in the US.

Just becasuse the DOJ imagines that online poker is illegal contrary to the only existing judicial rulings on the matter from the 5th Circuit court doesn't mean it is illegal.

[djoyce003]

if the auditors resigned because of anything bad that the company they were auditing was doing, they are required to make an SEC filing stating that much. Check the SEC filings and see if there is an 8-k that says there was fraud etc...i'm guessing you won't. Auditing firms resign for lots of resaons besides fraud. Usually it's money.

It's a damn shame as far as TV goes, because the WPT shows are 10x as interesting as the WSOP shows. 2 hours covering a table with 6 players means a hell of a lot more hands and more time spent seeing how they bet/call/fold.

WSOP coverage is 9(10?) handed and only 1 hour. You basically get to see 9 all-in hands where someone is knocked out, and maybe 2-3 other "interesting hands". WSOP coverage of hands is so quick there's almost no time to see how much the preflop raiser raised (2x, 3x the BB?), what the stack sizes were, etc.

[KramerTM]

[ QUOTE ]
It's a damn shame as far as TV goes, because the WPT shows are 10x as interesting as the WSOP shows. 2 hours covering a table with 6 players means a hell of a lot more hands and more time spent seeing how they bet/call/fold.

WSOP coverage is 9(10?) handed and only 1 hour. You basically get to see 9 all-in hands where someone is knocked out, and maybe 2-3 other "interesting hands". WSOP coverage of hands is so quick there's almost no time to see how much the preflop raiser raised (2x, 3x the BB?), what the stack sizes were, etc.

[/ QUOTE ]

I agree man. This news upsets me a lot. I hope they rebound and stick around.

[theben]

i hope so. i dont watch TV poker anymore

[Photoc]

[ QUOTE ]
So back 2 months or so, Doyle makes bid for WPT -- it was on 'Doyles Room' home poker site when you logged in so this was not just a rumor -- it was fact... The bid fails... Seems it was just too expensive for the players to get together and do this league thing through WPT Enterprises.... Why pay $1-2 billion to WPT Enterprises when you can organize if for a fraction of that and sell it to the networks???


[/ QUOTE ]

Actually, the bid was no where near 1-2 billion. In fact, it was 700 million. The rest of this, I have no idea as I dont watch too much TV poker because of the drummed up drama.

[Kyo Souma II]

aruba 2003: 436 $6000+200
aruba 2004: 636 $6000+200
aruba 2005: 397 $5000+200 excluding direct buyins.

-kyo

[MicroBob]

I don't think Aruba is a great example.

1. You have the negative publicity from the Natalie Holloway thing.
seriously...it impacts tourism. when I told my Mom that this was a tournament I wanted to win a seat at if I was fortunate enough her response was along the lines of 'geez...why would you want to go there??' (this was in reference to the Holloway bit)


2. It's through a site that just isn't as big now as it was before. UB tries and tries to push this event...but just doesn't get as far.


3. I think we are seeing a BIG TIME dilution of tourneys with things like the EPT and WSOP-circuit and all the other tourneys.
There's only so many people who can buy-in or win seats for alll these $5k and up buy-in tourneys.

for example: It looks like interest in the PPM cruise is not as high as it was in previous years.
Part of the reason is ALL the satellites for the WSOP that were running....and then all the satellites that they have for the Aussie Millions, etc etc.

Same thing on PokerStars. After 1100 WSOP qualifiers they move on to all those WCOOP events...and then the EPT.
And then the Stars Caribbean Cruise in January.
etc etc.

It's never-ending and they wind up competing with THEMSELVES as well as the events on the other sites.


You have SOOOO many more tournaments than you had before.