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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 :

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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