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WPT ENDS RELATIONSHIP WITH CRYPTOLOGIC

World Poker Tour Enterprises could be about to shut down its troubled online poker operations at WPTonline.com following an advisory report to the SEC filed October 17 which announces that the firm's 3 year poker network deal with turnkey provider and network Cryptologic is to be prematurely terminated on November 14 2008.
 
Because the deal only commenced in mid-2007, and was expanded earlier this year to 2011 (see previous InfoPowa report) the contract still has over two years to run, and there may be compensation claims from the software provider, although there have been no statements by either company thus far on this aspect.
 
Original SEC filings on the initial Cryptologic agreement indicate that the Dublin-based software company was guaranteed minimum guaranteed payments of $750 000 a year, with the proviso that should revenues drop below that level then WPT would make appropriate adjustments to ensure that the agreed monthly figure was met.
 
WPT's disclosure to the SEC notes that the company could remain in the online poker business with new software and management.
 
WPT's business experiences with online poker have not been happy; in 2006 the company tried to go it alone in developing software in Israel and setting up a website and supporting infrastructure. This did not appear to come together successfully, leading to the deal the following year with Cryptologic and its subsidiary Wagerlogic.
 
Although WPT is debt free and has ample assets, it has experienced declining stock prices to the extent that it was recently warned by Nasdaq (see previous InfoPowa report) that it could be delisted if its share price remained under the $1 mark for more than 30 days. It has yet to recover higher than the $1 level.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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