Online Poker Room
MAJOR ONLINE POKER NETWORK MAY BE SOLD OFF
2011-02-08
Media speculation that Ongame may be put on the market confirmed
Creating something of a stir Tuesday, the Bloomberg business news agency reported that the merger between Party Gaming plc and Bwin Interactive (see previous InfoPowa reports) could result in the online poker network and software developer Ongame being sold off.
The report was later confirmed by an unnamed Bwin spokesperson, who said that the respected online poker company may be sold either lock, stock and barrel or offered to strategic partners, as it could be regarded as a 'surplus asset' once the poker platforms of the merger principals were rationalised.
The spokesperson stressed that there was no immediate urgency for such a sale.
Ongame was acquired by Bwin in 2005 for Euro 475 million, but the acquisition was followed by the drastic impact in late 2006 of the passage of the Unlawful Internet Gambling Enforcement Act, which resulted in many top internet gambling companies - Bwin among them - exiting the US.
The merger partners could play a waiting game, given the possibility of a higher sales price if the US market continues to show promise for legalisation initiatives,
“We understand that the American gaming industry wants online poker regulated, as they want access to that revenue stream," the spokesperson noted. "Regulatory developments in the US would raise interest in these assets. But we haven’t yet established any firm deadline, and will look at all options.”
POKERSTARS RETREATS FROM WASHINGTON STATE2010-10-01Washington Supreme Court decision in Rousso case cited
The recent finding in the Washington Supreme Court that went against a constitutional appeal by PPA member Lee Rousso against the state's draconian anti-online gambling laws (see previous InfoPowa reports) is causing industry waves.
This week the world's largest online poker provider, Pokerstars, announced that it would no longer offer real money poker to residents of Washington state following the court's ruling.
Pokerstars issued a statement explaining its decision as follows:
“PokerStars today announced that it would cease providing real-money poker to residents of Washington State.
"To date, PokerStars has operated in Washington on the basis of legal opinions where the central advice was that the state could not constitutionally regulate Internet poker, or at least could not discriminate in favor of local cardrooms and against online sites.
"Last week, however, the Washington Supreme Court for the first time rejected that position and upheld the state’s Internet gaming prohibition.
"In light of this decision, following extensive consultation with our legal advisors, we believe that the right course of action is to now block real money play by Washington residents on the PokerStars.com site.
"This policy will remain in effect until the law changes or subsequent legal challenges succeed. Our decision to block real money play in Washington does not affect the balance of funds in customer accounts, which remain completely safe. Our payment services team continues to be available to Washington State residents to assist with cashout requests.
"We regret this decision, which will no doubt disappoint our customers in Washington State. However, in all of the jurisdictions where we operate, we are committed to making responsible decisions that are based on a full and considered understanding of the most up-to-date legal advice.
"PokerStars remains supportive of passing sensible Internet poker regulation in the United States that will provide much-needed tax revenues and formalize consumer protections. PokerStars operates under those conditions, complying with rigorous licensing regimes, for its worldwide operations in the Isle of Man (UK), and for local operations in Italy, France and Estonia."
INTERTOPS HEADS FOR CAKE POKER NETWORK2010-05-03Player loyalty rewards to be honoured
Intertops Poker is the latest company to transfer its online poker operations to the Cake Poker Network. The company, which has been in business since 2003, formerly used the Microgaming Poker Network for its internet poker activities, and last autumn changed its casino software provider from MGS to Real Time Gaming (see previous InfoPowa reports)
Intertops spokesmen said that the company will honour all existing Gold Chips, Gold Cards and Gold Stacks loyalty rewards held by players of rooms that have recently left the Cake Network, such as Sportsbook.com, PlayersOnly.com and PokerHost.com.
GEARING UP FOR WSOP 20102009-12-18But it's goodbye to the $50K H.O.R.S.E. event
Harrah's Entertainment has whetted player and industry appetites as the year ends by publishing the schedule for next year's World Series of Poker, listing 57 events that include six $1 000 Hold’em competitions and a new $50 000 Player’s Championship.
Dates for poker's multimillion dollar 41st edition next year are May 27-July 17, 2010, and the epic series will again be hosted at the Rio All-Suite Hotel and Casino in Las Vegas.
Many events remain unchanged from 2009 and offer buy-ins ranging from $1 000 to $50 000 for the new Player’s Championship.
WSOP tournament director Jack Effel said in a statement accompanying the schedule: “Whatever your game and whatever your bankroll, the 2010 WSOP schedule offers something for everyone. We are planning for the largest WSOP ever and look forward to welcoming all players to the Rio in Las Vegas this summer.”
With the economic recession showing some early signs of easing, Effel's ambitions could well be realised, as poker's popularity appears undiminished. Last year's WSOP drew a total of 60 875 players from 115 different counties with $175 million up for grabs.
The high point of the 2010 WSOP will as always be the $10 000 buy-in No-Limit Hold’em World Championship, which will commence on July 5 with a final table reached on July 17. As has been the case for the past two WSOPs, there will then be a four month interval before the nine finalists gather once more to decide the winner - this will take place between November 6 and 9, 2010.
Getting the 2010 series off to a running start will be the $50 000 buy-in Player’s Championship, which is scheduled for Friday, May 28th. For those with smaller bankrolls, there is a smaller competition over the same weekend - the $1 000 buy-in Hold’em tournament. Harrah's plans a series of these $1 000 buy-in Hold'em events throughout the series - one every weekend for the first five weeks of the 41st WSOP, followed by an additional event between July 1-2.
There will be mixed feelings about the replacement of the popular $50 000 buy-in H.O.R.S.E. event, which is to be replaced by the new $50000 Player’s Championship. This will add 2-7 Triple Draw, No-Limit Hold’em and Pot-Limit Hold’em to the mix of games, with big money prizes and the Chip Reese memorial trophy going to the winner.
H.O.R.S.E. purists have not been neglected, however; the schedule lists a new $10 000 buy-in Championship H.O.R.S.E. event.
Another innovation is a $25 000 buy-in No-Limit Hold’em Six-Max event, possibly prompted by the popularity of this genre on the high stakes tables, which should attract some exciting action players.
Well established faves in the epic series such as the Ladies and Senior events, and the charity Ante Up for Africa remain on the list which in general sticks with the familiar and popular events of the past.
Harrah's plans to utilise the whole convention centre at the Rio for the World Series of Poker next year - an impressive 58 000 square foot space in the Pavilion and 38 000 square feet in the Amazon Room
Readers can get all the detail here: http://www.wsop.com/tourney/tourneydetails.asp?groupID=764