The stock market was palpably excited this time last week when poker doyen Doyle Brunson was reported to have made a $700 million offer to purchase World Poker Tour Enterprises.
Shares soared and the rumours flew, among them one that the Binion family was backing the deal. But then nothing seemed to happen, and Steve Lipscomb at WPT did not appear to have sufficient information to close the deal as the deadline loomed.
By Tuesday this week the shine had disappeared, and media reports were suggesting that WPT Enterprises Inc’s shares had turned southward because the Brunson bid had crumpled, prompting some queries about the offer’s veracity.
“At this point, without any further information, we would let it expire,” said WPT’s Chief Executive Steven Lipscomb. “When the offer arrived last Thursday we were not looking to sell the World Poker Tour and we are more than happy to just get back to business.”
A company spokeswoman said WPT, which owns the popular World Poker Tour television series, spoke to Brunson late Monday who indicated he would provide no further information about the vague, cash offer that was received last Thursday.