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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.”
Gambling News :
$400k Winner at Bodog Casino -
To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
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