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WSOP Poker host- Harrah's Weighs Buyout Offers Wed.Mon, Dec 11th, 2006 @ 12:00am The board of Harrah's Entertainment Inc., host to the World Series of Poker (WSOP) plans to meet this Wednesday to consider buyout offers presented to the firm, a source familiar with the matter said on Monday, confirming a Wall Street Journal story. The paper also reported that Harrah's special committee of independent directors has set a deadline of Tuesday on all bids. Some analysts speculated that Harrah's, the world's largest gambling company, is trying to get a better price from the private equity groups. On Oct. 2, Harrah's said that a committee of non-management directors was reviewing an $81-per-share takeover offer from private equity firms Apollo Management and Texas Pacific Group. The offer price the private equity shops are offering rose on Oct 11 to $83.50 per share, or about $15.5 billion. A second bid from a group led by Penn National Gaming Inc. and hedge fund D.E. Shaw is considering making a cash and stock offer for Harrah's. Penn is significantly smaller than Harrah's, with a market capitalization of about $3.2 billion. Harrah's itself is also seriously considering a leveraged recapitalization, according to the Wall Street Journal, which added that details on that scenario remain unclear. Harrah's has a market value of about $14.8 billion, based on its closing share price this past Friday of $79.59. Read Related Articles:
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PokerStars to Sponsor Irish Poker Championship PokerStars.com, the world's largest online poker site, just announced that they will throw their substantial weight behind one of Ireland's major poker festivals, The Irish Poker Championship (IPC), as part of the new PokerStars.com UK and Ireland Poker Tour.
UIGEA Delayed 6 Months in Temporary Victory for Online Poker Days before the December 1 deadline for implementing the UIGEA, the U.S. government announced a six-month postponement of the poorly defined anti-gambling regulations. The U.S. Department of the Treasury and the Federal Reserve Board jointly released a statement moving the deadline for UIGEA compliance to June 1, 2010.
Fabrice Soulier Joins Everest Poker's Pro Roster To further strengthen its support for French poker in anticipation of the opening of that market, Everest Poker has signed renowned French poker pro Fabrice Soulier as its latest ambassador.
HHPT Co-Sponsors Bayou Poker Challenge Ladies Event Dec. 20 The HighHeelsPokerTour (HHPT), the first all women's poker tour launched on the East coast, will wrap up their 2009 schedule at Harrah's New Orleans on December 20th where they will co-sponsor the Ladies Event #14 no-limit Hold'em at 12 pm.
OPPAGA Reports on Florida's Online Poker Options Given that UIGEA permits individual states to regulate online poker, the Florida Legislature's Office of Program Policy Analysis and Government Accountability (OPPAGA) published a report this week presenting three options available to Florida State lawmakers in order to protect consumers from unlawful internet poker: regulate it, prohibit it, or carry on with the status quo pending federal legislation.
BC Poker Champion Arrested, Charged with Manslaughter Just two days after taking down the BC Poker Championships Main Event, Sophon Sek of Cloverdale, BC, was arrested in connection with one of the most storied crimes in the Province's history.
Local Businessman Bags European Poker Tour Vilamoura Bling The European Poker Tour rolled into the Casino Vilamoura last week, instantly generating the richest poker prize pool in the nation of Portugal's history.
Keikoan Captures Harvey's Lake Tahoe WSOPC Championship This week marked the finale of the biggest annual tournament series in Northern Nevada, the WSOP Circuit championship at Harvey's Lake Tahoe. While the Main Event saw only a modest turnout, it did boast of a tough final table, and a WSOP bracelet owner as the eventual champion.
WSOP Main Event Champ Joe Cada to Appear on Letterman The poker world will receive some late night attention tonight as "The Kid" Joe Cada, the youngest champion in the four decade history of the World Series of Poker Main Event, takes a seat next to embattled talk show host David Letterman.
First Korean Champ of Asia Pacific Poker Tour Crowned in Cebu Another stop on the Asia Pacific Poker Tour is in the books, this time it's the APPT Cebu in the Philippines, and for the very first time a Korean player has come out on top. |
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