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WPFH - Soulja Boy deal is a PR stunt
SOULJABOY 'JUMPED THE GUN' ON WORLD POKER FUND HOLDINGS DEAL (Update)
This exercise is sounding more like a PR stunt every day.
For the last three weeks would-be international online poker operator World Poker Fund Holdings has been riding the crest of a publicity wave that started when US rapper Soulja Boy claimed he had inked a $400 million social gaming deal with the company, potentially ranking him with the top entertainers in the business .
Whilst there were many who expressed doubts about the credibility of such a deal, the entertainment press in particular lapped it up, and was perhaps the target audience WPFH was aiming for in order to generate business and possibly investment for the company's nascent Celebrity.com brand.
Amidst some rather blunt criticism of the press release from various sources, Forbes published the true nature of this offer Monday, explaining that the company has a market capitalisation of just under $52 million, and in its annual accounts last year acknowledged a loss of $400,000. And in four years it has yet to post a profit.
"So how is a company that is worth just north of $50 million going to pay out $400 million to their celebrity endorser?" Forbes asks. "The answer is, they’re not. The deal, according to [company spokesman] Matthew Bird, includes both stock and revenue-sharing.
Contacted by Forbes, Bird attempted to explain how this strange situation has come about, saying:
“He [Soulja Boy] really kind of jumped the gun. The deal is capped at $400 million, and it’s based on a forward-thinking valuation of the company. He’s young, he’s 25 years old. He got really excited, and he tweeted something he probably shouldn’t have tweeted. He was getting a lot of pressure from within the entertainment community, so he wanted to put a statement out. Obviously, the company’s market cap is at $51.8 million. There’s no way they could cut a $400 million deal. Endorsement deals are calculated on a lot of different factors. This is not a fully cash transaction.”
$75K Win on Mobile Slot @ CafeCasino -
Café Casino’s mobile slot, Achilles, paid out in a big way over the weekend. A player from Pennsylvania, Rob J., triggered the game’s free spins mode by landing three scatters.
2017 Punta Cana Poker Classic Results -
The 2017 Punta Cana Poker Classic is now in the books and players are returning home after a week-long poker celebration. And after a major final table deal, two players have the most reason to celebrate. Roberto Carvallo ultimately won the tournament after negotiating a final table deal with Jamin Stokes.
NHL Odds: Winnipeg Jets vs. Minnesota Wild -
Blake Wheeler and the Winnipeg Jets will attempt to get two points closer to the Central Division lead on Tuesday, as they take on the Minnesota Wild on the road. The Jets have started strong, and sit in second place in their division. Led by RW Blake Wheeler, the Jets look like a team that could make some noise in the West this season.
Historic weekend at Americas CardRoom -
ACR ran two $1,000,000 guaranteed tournaments last Sunday for the first time in their history; a $2,100 high roller for the BOSS Main Event and a $540 buy-in Million Dollar Sunday. They were both on the last day of the $14 Million OSS Cub3d.
WPN Affiliates Headed to Berlin Affiliate Conference -
With the Berlin Affiliate Conference just over a week away, WPN Affiliates is making a bold statement. The online poker affiliate network announced that they are eager to buy traffic and ready to make deals with affiliates looking to capitalize on some big innovations.
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