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Confusion in reports on departure of key WPTE execs

3/10/10 - The unconfirmed reports on the resignations this week of a key World Poker Tour Enterprises exec has created speculation over whether they jumped or were pushed by new owners Peerless Media - a subsidiary of Party Gaming plc.
 
The confusion over the departure of Rohin Malhotra, the Company’s Managing Director has its roots in SEC filings dated November 2 2009 which advise:
 
"On November 2, 2009, pursuant to the terms of an Asset Purchase Agreement by and between WPT Enterprises, Inc. and Peerless Media Ltd., dated August 24, 2009, we closed a transaction whereby we sold substantially all of our operating assets other than cash, investments and certain excluded assets to Peerless for cash consideration of $12.3 million and an ongoing revenue share relating to the purchased assets, under which Peerless will make a minimum aggregate payment to the Company of $3 million over the next three years. 
 
"As a result of the closing of the transaction, and in accordance with the approval of a majority of the Company’s shareholders voting at a special meeting of the shareholders held on October 30, 2009, the Company changed its name to ante4, Inc. on November 4, 2009.
 
"Item 5.02  Departure of Directors and Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. In connection with the closing of the Transaction, on November 2, 2009, the Company terminated the employment of Adam Pliska, the Company’s General Counsel and Secretary, and Rohin Malhotra, the Company’s Managing Director."
 
Interestingly, Malhotra was at one time a Party Gaming executive.
 
Appointed in October 2007, Rohin Malhotra was a highly experienced member of the WPTE hierachy, bringing to the company a 'vast' knowledge of television networks, production, and distribution in his role as Managing Director - International Sales & Marketing.
 
Malhotra moved from Fox Sports where he was an Executive Advisor. Prior to Fox Sports, according to WPTE media informationals, he served as the International Marketing & Head of Global Programming for PartyGaming plc, where he focused on programming strategy and global distribution initiatives. He also provided operational and business strategy as Senior Director at MTV Networks.
 
As WPT Managing Director - International Sales & Marketing, Malhotra was tasked with leveraging his knowledge and experience to maximise the WPT content library across all television and multimedia platforms. His charge was to strategically distribute and utilize WPT content in traditional and non-traditional media platforms while building the brand and translating the exposure into traffic and players for WPT's failed online gaming site.
 
The executives would appear from the SEC filings to qualify for golden parachutes in the shape of 18 months of remuneration package. When negotiations for the sale of WPTE were in progress last year the company filed an amendment to its Compensatory Arrangements for Certain Officers guaranteeing the packages in the event that the officers named were terminated without cause in connection with the sale of the company.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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