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Ex-Champ Bids $700 Million for Poker TV Show

An investor group headed by two-time World Series of Poker champion Doyle "Texas Dolly" Brunson has made an unsolicited $700-million bid for WPT Enterprises Inc., owner of the "World Poker Tour" television show and online casino, WPT said Friday.

The offer for WPT "does not specify any terms" beyond the price, said W. Todd Steele, chief financial officer of the Los Angeles company. "We assume there are other investors but they are not named."

WPT’s board is just starting to evaluate the offer, which was received Thursday, he said.

Brunson couldn’t be reached for comment Friday because he was playing in the World Series of Poker at the Rio hotel and casino in Las Vegas, a rival circuit to the World Poker Tour. His representatives at the Las Vegas law firm of Goodman & Chesnoff didn’t return calls.

Although the 71-year-old poker patriarch is well regarded for his acumen at the card table, Wall Street is wondering whether he has the financial wherewithal to pull off an acquisition of WPT.

Read the entire article at: Los Angeles Times 

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