World Series of Poker enters third round with 272 players left

World Series of Poker enters third round with 272 players left By Adam Goldman For Associated Press The day of finishing in the money arrived at the World Series of Poker. With the field slashed, almost all of the players left going into Monday will end up taking home at least $12,500. Of the 5,619 entrants who began play, most walked away empty handed _ only 560 make money. But for many players lucky enough to survive the first four days of the no-limit Texas Hold 'em event, the minimum payout _ enough to cover the required $10,000 buy-in plus some expenses _ is not likely to satisfy their gambling appetites. They'll be shooting for a spot at the final nine-person table in which the first one out will take home $1 million and the winning player will collect a record $7.5 million in first-place money. In the running was patent lawyer Greg "Fossilman" Raymer, the 2004 champ, who was sitting on about $700,000 in chips and second place as the field was narrowed to 272 late Monday night. Raymer, of Stonington, Conn., is one of two former champions of the World Series of Poker's main event still standing out of the 15 who started in the tournament. Russ Hamilton, the 1994 champion, is still competing. The late chip leader was Rod Pardey Jr. of Las Vegas with about $702,000 in chips. But lurking among the remaining players were some top-notch pros, such as Phil Ivey, Mike Matusow, John Juanda, Paul Darden, Layne Flack, Howard Lederer. Sam Farha, who finished second to Chris Moneymaker in 2003, ran out of luck Monday night and was knocked out. But Juanda and Darden engaged in a costly battle Monday afternoon. Both went all-in before the flop. Juanda showed two queens and Darden had an ace-king. The flop and turn, or fourth street, revealed two aces, giving Darden an edge. But the river, or fifth street, doomed Darden when the dealer turned over a queen. Juanda's full house of queens over aces beat Darden's three aces and nearly doubled his original stack of $141,000. Women also are trying to make history by winning the 36-year-old event. The 1995 fifth-place finisher and the only woman to make it to a final table, Barbara Enright, busted out late Monday. Olga Varkonyi, wife of 2002 winner Robert Varkonyi, was still in the game, one of seven women left. Former Miss Teen Oklahoma and pro Clonie Gowen exited the tournament Monday afternoon when her ace-queen lost to two aces.

CBS deals itself in with TV poker tourneys

CBS deals itself in with TV poker tourneys By Zap2it.com CBS is betting that interest in televised poker isn't on the wane, teaming up with a promoter to televise poker tournaments in which amateur players get a chance to match wits with pros. The network has signed a deal with ProJo Poker Enterprises to televise eight ProJo tournaments and four specials. First up will be the "ProJo Christmas Poker Classic," airing in the afternoon on Dec. 25. With the deal, CBS is making the biggest push yet by a broadcast network into the world of televised poker. Although NBC has aired a couple of specials in the past, poker has been largely a cable phenomenon, providing ratings boosts for networks ranging from ESPN ("World Series of Poker") to Bravo ("Celebrity Poker Showdown") to the Travel Channel ("World Poker Tour"). ProJo Poker stages its tournaments with amateur players in mind, offering relatively low buy-ins and keeping professional players out of the early rounds. Eight invited pros join the tournament in the semifinal round, playing at one table while the eight top "average Joes" play at another. The last four remaining at each table square off in the final. ProJo's 26-tournament schedule awards a total of $40 million in cash and prizes. As part of the pact, CBSSportsLine.com will set up a poker area where people can play for free and take a shot at winning prizes and spots in ProJo tournaments.

Inaugural Women's Poker Convention Scheduled In Las Vegas

Inaugural Women's Poker Convention Scheduled In Las Vegas The Women’s Poker Convention (August 12 – 14 at the MGM Grand Hotel and Casino)provides an opportunity for women to take their game to the next level by learning to improve their skills through the experiences shared by top professional players. Hosted by renowned poker author Lou Krieger, the goal of the convention is to empower women with necessary information to successfully challenge their opponents and to emphasize the influence women have in the world of poker. The keynote speaker is celebrated high-stakes player Jennifer Harman, who holds a World Poker Tour title as well as two World Series of Poker bracelets. Other world-class poker players presenting during the seminars include three time World Series of Poker champion Barbara Enright, two time World Series of Poker champion Susie Isaacs, noted Poker writer Amy Calistri, and professional players Roxci Rhodes, Cat Hulbert, and Lacey Jones. The seminars are followed by a panel discussion and will close with a women’s poker tournament where the champion will take home her share of the prize pool, along with a prize package including a publicity kit, professional photograph session, a profile in Woman Poker Player magazine, and a private tutoring session with a professional player. The recent popularity of poker has created a demand for a convention specifically about poker for women. Women are the fastest growing demographic of new poker players. This year’s World Series of Poker ladies tournament attracted a record turnout with a 300 percent increase in registrations from 2004, yet the numbers of women who play poker professionally are still a minority. To qualify for the early registration discount, women should register by July 12th. The registration fee includes all formal functions, continental breakfasts, and lunches.

World Series of Poker Winner to Get $7.5M

World Series of Poker Winner to Get $7.5M By Christina Almeida For Associated Press The nine players reaching the final table at the World Series of Poker main event can bet on one thing: They're taking home at least $1 million. But at least five former champions won't be around for the final table on Friday after being knocked out of the event. The winner of the 36th annual tournament, which started Thursday, will win $7.5 million, a big increase from last year's $5 million, which was double what 2003 champion Chris Moneymaker made. "The big surprise is the final table," tournament director Johnny Grooms said Saturday. "Only three to four years ago it was a big deal for a tournament to guarantee a $1 million first place." The first person knocked out in the final table of the no-limit Texas Hold'em event will receive a $1 million consolation prize. The final table is scheduled to begin Friday at Binion's Gambling Hall & Hotel in downtown Las Vegas. The main event began Thursday at the Rio hotel-casino with a record 5,619 players, more than double the 2,576 participants in 2004 and almost seven times the then-record 839 players who entered in 2003. Carlos Mortensen, the 2001 World Series of Poker champ, busted out on Thursday, as did 1987-88 winner Johnny Chan. Chris Ferguson, who won in 2000, was knocked out Friday, followed by 1989 champ Phil Hellmuth and 71-year-old Doyle Brunson, the 1976-77 winner, on Saturday. Other top players such as Daniel Negreanu, Annie Duke and T.J. Cloutier have also exited. Greg Raymer, the 2004 champion, made it past the first cut and held $39,525 in chips. Sam Fahra, who finished second to Moneymaker in 2003, also advanced with a $156,600 chips count. Moneymaker also advances, but will be short stacked with $7,575 in chips when the second round starts Sunday. The total prize pool is $52.8 million, minus the house cut of $3.37 million. According to tournament officials, 560 players will finish in the money. Second place will collect $4.25 million; third $2.5 million; fourth $2 million; fifth $1.75 million; sixth $1.5 million; seventh $1.3 million; and eighth $1.15 million.

Ex-Champ Bids $700 Million for Poker TV show

WPT Enterprises receives a bid from investors who include a legend of the game. By Jerry Hirsch, Times Staff Writer Is this a deal or a bluff? An investor group headed by two-time World Series of Poker champion Doyle "Texas Dolly" Brunson has made an unsolicited $700-million bid for WPT Enterprises Inc., owner of the "World Poker Tour" television show and online casino, WPT said Friday. The offer for WPT "does not specify any terms" beyond the price, said W. Todd Steele, chief financial officer of the Los Angeles company. "We assume there are other investors but they are not named." WPT's board is just starting to evaluate the offer, which was received Thursday, he said. Brunson couldn't be reached for comment Friday because he was playing in the World Series of Poker at the Rio hotel and casino in Las Vegas, a rival circuit to the World Poker Tour. His representatives at the Las Vegas law firm of Goodman & Chesnoff didn't return calls. Although the 71-year-old poker patriarch is well regarded for his acumen at the card table, Wall Street is wondering whether he has the financial wherewithal to pull off an acquisition of WPT. WPT's shares shot up $8.75, or 49%, to $26.50 on Friday after the company confirmed that it had a bid in hand. Yet the stock was still well below the roughly $34-a-share valuation of the bid, said Todd Eilers, an analyst with Roth Capital Partners in Newport Beach. The gap is a result of Brunson not showing his cards, Eilers said. The gambler hasn't said who his partners are or outlined the source of his funds. Although that may be true to form for a poker player, Eilers said it made Wall Street skittish. "Brunson may be a poker icon, but it sounds like he is a figurehead here," Eilers said. "It is not clear how much he is contributing to the purchase price. The real question is who the other financial backers are." For investors, World Poker Tour has proved a good bet because poker is hot, whether it is played on a computer, the kitchen table or at a posh Las Vegas resort. The company went public last August at $8 a share. "I don't think anybody could have foreseen the popularity of poker," said Jack Binion, the casino entrepreneur who with his father, Benny Binion, founded the World Series of Poker tournament at the old Horseshoe casino in downtown Las Vegas 35 years ago. "What really made it big is all the television coverage and especially the Internet." The Bellagio, the Las Vegas Strip resort where the WPT championship is played each April, just spent $5 million remodeling its poker room and increased the number of tables by a third to 40. "Our poker business is up by 60% over the past three years," said Doug Dalton, the casino's director of poker operations. All this activity is reflected in the high valuations of Internet gaming stocks, Binion said. Just last month, Britain's PartyGaming went public for $8.5 billion in one of the London Stock Exchange's largest offerings in recent years. Analysts say that may be why Brunson is making a $700-million bid for WPT, which at this point is a tiny business compared with the giant Las Vegas casinos or Indian gaming halls. WPT earned $752,000 last year on revenue of $17.6 million. In June, WPT launched its online casino, offering a live multiplayer poker room with head-to-head and tournament play. Although the site prohibits bets from players in the U.S. and other jurisdictions where online gaming is prohibited, it still has significant growth potential, Eilers said. Worldwide, online gambling will hit $3 billion this year and will grow to $4.5 billion in 2006, Eilers said. Because of legal restrictions, WPT operated in just 20% of the market. But even that slice is large and growing, the analyst noted. "The WPT television show goes to over 60 international markets," he said, "And that will drive customers to the online casino." Even if Brunson does come up with the funds, it's not clear whether he will be able to close the deal without the consent of Minnetonka, Minn.-based Lakes Entertainment Inc., a manager of Indian casinos, which owns about 62% of WPT. Lakes said it was reviewing the offer.