Poker News

Phil Hellmuth to Host Charity Tournament

Phil Hellmuth, representative of online poker site UltimateBet, is well-known for his philanthropy and charitable donations. The 11-time bracelet winner is teaming up with the Taser Foundation for Fallen Officers to host the 5th annual Hold’em for Heroes Celebrity Tournament on November 19-21 at Fort McDowell Casino in Arizona.

Phil Hellmuth to Host Hold’em For Heroes Celebrity Tournament

Ultimate Bet’s Phil Hellmuth is once again doing his part in giving back to the families of police officers that have lost their lives in the line of duty. The 11-time bracelet winner is teaming up with the Taser Foundation for Fallen Officers to host the 5th annual Hold’em For Heroes Celebrity Tournament November 19-21 at Fort McDowell Casino in Arizona.

Last year, the event raised over $500,000 for the foundation and was labeled the “most successful charity poker tournament in the country” by national poker media. To date the TASER Foundation has awarded over $2.29 million to the families of fallen law enforcement officers in the United States and Canada. In 2008, 141 officers in the United States and Canada were tragically killed in the line of duty.

In a press release sent out by Ultimate Bet, Hellmuth was quoted as saying, “over the last several years, and especially since 9/11, my respect for policemen, firemen and the people who protect us has risen higher and higher. Our Hold’em for Heroes charity poker tournament gives money to the Fallen Officers Foundation, which supports officers and the families of officers who were killed in the line of duty. My friends and I are grateful to these brave men and women and we are proud to help.”

Joining Hellmuth at the event will be fellow Ultimate Bet Team member Brandon Cantu, Layne Flack, Todd Brunson, Antonio Esfandiari, Kenna James, Clonie Gowen, Roy Winston, and several other poker pros and celebrities. Country music artist Mark Wills has signed on to co-host the event with Hellmuth.

There will be three separate tournaments running during the three-day event. A $115 buy-in with unlimited $50 re-buys and a $50 add-on will take place on Nov. 19. Then a $265 buy-in with unlimited $125 re-buys and a $125 add-on will be played on Nov. 20, and on Nov. 21 a high-roller $1,000 buy-in with unlimited $500 re-buys with a $500 add-on will round out the festivities. Half of all the buy-ins, re-buys and add-ons will be donated to the TASER Foundation for Fallen Police Officers. The top two prizes in each tournament are a combination of cash prize and a seat in a one-table tournament to be played during the evening of Nov. 21 with Hellmuth for a $10,000 Main Event seat at the 2010 World Series of Poker.

Prizes will also be awarded for special events within the celebrity golf tournament held on Nov. 20. One lucky player could even win a 2010 Mercedes for making a hole-in-one.

Here’s a look at the full schedule of the three-day event:

Thursday, November 19, 2009

12:00 pm: $115 Buy-In Tournament first seating (Ft. McDowell Casino)
7:00 pm: $115 Buy-In Tournament second seating (Ft. McDowell Casino)

Friday, November 20, 2009

12:00 pm: $265 Buy-In Tournament first seating (Ft. McDowell Casino)
12:15 pm - 5:15 pm: Celebrity Golf Tournament (We-Ko-Pa Golf Club)
5:30 pm - 6:00 pm: Celebrity Media time (Radisson Hospitality Suite)
6:00 pm: VIP Reception at The Peaks Steakhouse
6:30 pm - 7:30 pm: Meet & Greet for Tribal leaders (Ft. McDowell Casino)
7:00 pm: $265 Buy-In Tournament second seating (Ft. McDowell Casino Poker Room)
7:30 pm: Poker Class for Celebrities (Radisson Hospitality Suite)

Saturday, November, 21, 2008

10:30 am - 11:30 am: General public meet & greet (Ft. McDowell Casino)
12:00 pm: $1,000 Buy-In High Roller Tournament (Ft. McDowell Casino)
4:00 pm - 5:00 pm: Dinner for families, celebrities, and VIP law enforcement guests (Ft. McDowell Casino outside courtyard)
5:00 pm - 8:00 pm: Resume tournament (Ft. McDowell Casino)
8:00 pm: Final Grand Prize Table (Ft. McDowell Casino)

Interested players should sign up at HoldemForHeroes.com.

888 Releases Q2 2009 Financial Results

888, the parent company of Pacific Poker, reported Total Operating Income of $61 million during the second quarter of 2009, a 7% increase compared to the year’s first quarter. However, it translated into a 12% dip year over year.

During the second quarter of 2008, 888 reported Total Operating Income of $69 million. Its business to consumer (B2C) Total Operating Income was $48 million in the second quarter of 2009, representing a growth of 7% over the first quarter, but a drop of 19% compared with the same interval last year. 888’s business to business (B2B) Operating Income weighed in at $12 million, a 4% increase over the first quarter this year and a 20% increase year over year.

Gigi Levy, Chief Executive Officer of 888, commented in a statement made to the London Stock Exchange, “We enter the seasonally quieter summer period with delivery of our strategy on track and we remain committed to investing in the business in spite of the macroeconomic environment. We are confident of delivering further growth during 2009 based on additional planned B2C activities and a set of newly launched B2B partnerships which we expect to start generating revenues in the coming months.” Given the global economic meltdown, 888’s Operating Income sank 13% during the first half of 2009 year over year to $118 million.

Casino Operating Income came in at $29 million, a slide of 20% in comparison to the second quarter of 2008, but an increase of 10% from its first quarter tally. Its Poker Operating Income totaled $13 million, a fall of 36% compared to the second quarter of 2008 (when revenues were $20 million) and a 9% drop from Q1 2009. The company’s Operating Income from Emerging Offerings grew by 88% in comparison to Q2 2008 and rose by 40% compared with Q1 2009. Emerging Offering Operating Income amounted to $7 million.

888 reported a customer base of 180,000 during the second quarter of 2009 for its poker and casino arms, a decrease of 8% from the headcount reported during the same period last year. However, the 180,000 customers translated into a 7% increase over the first quarter of 2009. The number of active poker customers was 142,000, a decrease of 7% over last year’s second quarter, but a growth of 7% over Q1 2009. The publicly traded company reported a casino base of 67,000 players, a drop of 10% year over year, but a growth of 7% over the first quarter. All told, the company has 6.4 million casino, poker, and sports betting customers.

The Quarterly Total Operating Income per casino customer, $439, was down 11% in the second quarter of 2009 in comparison to the same period in 2008. That total was on par with the first quarter of this year, increasing by 2%. The Quarterly Total Operating Income per poker customer amounted to $88, a fall of 32% in comparison to the second quarter of 2008 and a slide of 15% in comparison to the first quarter of 2009. 888 officials attributed the dramatic dip in poker revenue to “an extensive campaign late in the quarter which brought many customers toward the end of the quarter who did not have sufficient playing time to materially contribute to revenues.”

During the first half of 2009, Poker Operating Income was $26 million, a decrease of 37% in comparison to the $42 million taken in during the first half of 2008. The company also revealed that its average daily revenue during the first 28 days of July (the start of the second half of 2009) was 2% higher than during the first half of the year and on par with the overall tally during the second quarter.

888 is traded on the London Stock Exchange under the symbol “888.” It closed trading on Thursday down £0.05 to £79.95. Its full H1 2009 results will be released on August 27th.

WPT: Season 8 soldiers on

"At this point we don't anticipate any changes to the Season 8 schedule," WPT Enterprises Interim Chief Financial Officer Thomas Flahie told PokerListings. "No dates or locations are expected to change."

WPT Enterprises, Inc. announced Monday that Gamynia Limited had agreed to acquire substantially all of the company's operating assets including the WPT's television, sponsorship, distribution and licensing units.

Pending shareholder approval, the $9 million sale is expected to be completed in the fourth quarter of 2009.

Under the agreement, Gamynia is expected to push the WPT further into the online gaming market and Flahie said the buyers may even be interested in expanding the tour.

"The buyer has expressed an interest in expanding the tour in Europe," he said. "There's definitely an interest in expanding outside of the U.S. market."

Flahie said operations will continue as normal and details regarding any possible expansion will not be available until after the sale is complete.

The WPT's Season 8 schedule continues later this month with the Legends of Poker event at the Bicycle Casino in Bell Gardens, California, August 22-29.

According to the WPT, Season 8 includes 13 additional stops featuring events in Slovakia, Cypress, Marrakech, Atlantic City, Las Vegas, Los Angeles, San Jose, Biloxi, a new stop in Lawrenceburg, Indiana and the Foxwoods Casino in Mashantucket, Connecticut.

Related Articles:

• World Poker Tour sold

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EPT Moscow marches on?

The Russian Ministry of Youth, Sport and Tourism passed an order July 20 removing poker's status as a sport, effectively banishing the game to the country's four newly designated gambling zones, all outside the Russian capital.

The PokerStars European Poker Tour had planned to kick off its sixth season in Moscow August 17-23 and PokerStars Press Officer Donna McLoughlin says despite the order, those plans have not changed.

"As far as I know EPT Moscow is still going ahead," she told PokerListings. "We are looking into the situation in Russia and if there are any updates we will let you know."

However, Dmitry Lesnoy, president of the Russian Sports Poker Federation, seems less optimistic.

"We are very sorry to lose our image in the eyes of the international poker community that was hoping to see the European Poker Tournament in Moscow this year," an official statement from the Federation reads.

"It will be a great pity for us if Russian poker stars move abroad to play under the flags of other countries. But we have to accept the inevitable."

Satellites for EPT Moscow are still currently running on PokerStars daily.

Related Articles:

• EPT Moscow cancelled?

Visit PokerListings.com

WPT May Be for Sale

With the final days of the World Series of Poker (WSOP) playing out and the eighth season of the World Poker Tour (WPT) starting this week, poker has taken center stage in Las Vegas. Even with this activity, however, there are rumblings in one of the financial world’s top publications.

The Wall Street Journal on Monday published an article entitled “Deal Me In” by staff writer Brett Arends that asked whether the WPT was for sale. In the article, Arends quotes WPT Enterprises (the WPT’s parent company) Chief Financial Officer Tom Flahie as stating, “We can’t comment… beyond saying we’ve provided confidential data to third parties.” Founder and Chief Executive Officer Steve Lipscomb was reached by Arends in Gibraltar and added, “We’ve had discussions with, and exchanged documents with, some companies that have expressed an interest.” A WPT spokesperson told Poker News Daily, “Our general policy is that we do not comment on matters that are speculation or rumor.”

Arends’ article in the Wall Street Journal does an excellent job in documenting the history of the WPT and points out why it may be appealing to another organization to purchase the business. It also details how, over its seven-year history, the WPT has been one of the catalysts that drove poker to its unprecedented heights, but did not perform well on the bottom line of profitability.

While doling out hundreds of millions of dollars to players who have competed on the WPT circuit over seven seasons, the WPT has lost money over its entire history. In 2005, it reached its apex on the stock market at over $26 per share and was involved in the now-infamous potential buyout from poker legend Doyle Brunson. Once that sale failed to take root, the stock of WPT Enterprises collapsed to the point in which it was nearly de-listed from the NASDAQ after falling below $1 per share. Only recently has the stock stayed above $1 for ten consecutive trading days, securing the future of its listing. Currently, WPT stock is being traded at $1.36 per share.

While Arends’ examination of the WPT is thorough, there are questions as to who is the potential suitor that could pick up the tour. Gaming Intelligence Group has surmised that the possible buyer is the online sports book and poker room bwin, which recently teamed with the WPT to present an event in Venice, Italy. Other suggestions have included Full Tilt Poker, which has sponsored the WPT on Fox Sports Net for the last two seasons, and PokerStars, which is the international broadcast sponsor of WPT broadcasts.

2009-2010 WSOP Circuit Event Schedule Announced

Eleven stops will take place as part of the 2009-2010 World Series of Poker (WSOP) Circuit, announced by Harrah’s officials on Friday. The festivities will head to Harrah’s St. Louis for the first time.

Not every poker player can make the trek to Las Vegas for the world’s richest tournament series. Consequently, a WSOP Circuit Event brings the excitement of big buy-in events to Harrah’s-owned casinos around the United States. David Norton, Chief Marketing Officer of Harrah’s Entertainment, commented in a press release, “WSOP Circuit Events are a great way to welcome new guests to Harrah’s properties around the country. Whether you are a new player or a casino regular, you will find a great playing experience.”

While WSOP events in Las Vegas dish out gold bracelets to winners, Circuit Events award a prestigious gold ring to each champion. Preliminary tournaments are held along with a $5,000 buy-in Main Event, half of what the championship contest in Las Vegas costs to enter each year. While the schedule for each stop has not yet been formally released, look for the WSOP Circuit to traverse the United States as follows over the next year:

October 16th through October 25th, 2009
Horseshoe Hammond (Chicago)
Reigning Champion: Steve “MrSmokey1” Billirakis

October 23rd through November 2nd, 2009
Horseshoe Southern Indiana (Louisville)
Reigning Champion: Samuel Oberlin

November 5th through November 15th, 2009
Harvey’s Lake Tahoe
Reigning Champion: Michael Binger

December 4th through December 20th, 2009
Harrah’s Atlantic City
Reigning Champion: Brent Roberts

January 20th through February 11th, 2010
Harrah’s Tunica (Memphis)
Reigning Champion: Kai Landry

February 18th through March 2nd, 2010
Horseshoe Council Bluffs
Reigning Champion: Jesse Hale

March 3rd through March 14th, 2010
Caesars Atlantic City
Reigning Champion: Samuel Chartier

March 18th through March 31st, 2010
Harrah’s Rincon (San Diego)
Reigning Champion: Dwyte Pilgrim

April 1st through April 14th, 2010
Harrah’s St. Louis
Reigning Champion: New Event

April 14th through April 30th, 2010
Caesars Palace Las Vegas
Reigning Champion: Justin “ZeeJustin” Bonomo

May 7th through May 19th, 2010
Harrah’s New Orleans
Reigning Champion: Jean “Prince” Gaspard

The 2008-2009 schedule featured 10 stops in largely the same order as they appear on the new slate of events. The brand new St. Louis tournament series fills a gap in time that previously existed between Harrah’s Rincon and Caesars Palace. In addition, the Circuit stops in Hammond and Southern Indiana will overlap. The venues are separated by more than 250 miles of Interstate 65, which traverses Indiana from Louisville to Chicago.

The addition of a stop in St. Louis for the WSOP Circuit mirrors a similar move by the World Poker Tour (WPT), which dropped its North American Poker Championship and Foxwoods Poker Classic for Season 8 in favor of an event at Hollywood Casino outside of Cincinnati in Lawrenceburg, Indiana. The venue will be the first riverboat property to host a WPT event and provides a convenient destination for poker players from around the Midwest. The Hollywood Poker Open will take place from March 20th to 24th.

Buy-ins for preliminary tournaments held during Circuit Events typically begin around $250, allowing the area’s poker pros and amateurs alike ample options to try their hand at the Great American Pastime. WSOP Commissioner Jeffrey Pollack commented in a press release, “World Series of Poker Circuit Events are a great way to gain live tournament experience, get a feel for what the World Series of Poker is all about, and have a lot of fun. Every stop on the WSOP Circuit has a local flair and provides a best in class poker-playing experience.”

The 2009 WSOP Main Event enters Day 4 on Saturday. A total of 810 players remain, with Team PokerStars Pro member Bertrand “Elky” Grospellier dominating the field. The two-time WPT event winner holds 1.4 million chips, well ahead of Ludovic Lacay’s second place stack of 896,000.

More Guilty Pleas in BetOnSports Case

Neil Scott Kaplan, Lori Kaplan-Multz, and Penelope Tucker have all pled guilty to U.S. District Court Judge Carol E. Jackson, according to an article published by Bloomberg on Tuesday. Now, BetOnSports Founder Gary Kaplan faces trial on September 21st.

Former BetOnSports Chief Executive Officer (CEO) David Carruthers pled guilty in April and faces up to 33 months behind bars. Carruthers’ sentencing is scheduled for October. A statement released by iGamingNews at the time noted that Carruthers planned to cooperate against others who were still being held by the U.S. Department of Justice. Now, only Kaplan remains. The other defendants pled guilty to “racketeering conspiracy and the illegal transmission of bets,” according to Bloomberg.

Kaplan was arrested in the Dominican Republic in March of 2007. An article published by BBC News two years ago noted that BetOnSports reaped 95% of its profits from U.S. residents and exited the market in August of 2006. That October, the Unlawful Internet Gambling Enforcement Act (UIGEA) was signed into law by then-U.S. President George W. Bush. The measure prohibited the transfer of funds from banks and other financial institutions to illegal internet gambling outfits, although it failed to specify what activities were permissible. The regulations of the UIGEA were approved as “midnight rules” in November and implemented on January 19th, one day before President Barack Obama took office. The financial services industry must come into full compliance with the UIGEA by December 1st.

Carruthers was kept under house arrest in St. Louis after being picked up by U.S. authorities in Texas in 2006. According to Bloomberg, Kaplan faces charges of “racketeering conspiracy, mail fraud, and wire fraud.” His brother, Neil, told Judge Jackson, “Having seen my brother’s companies advertised openly on billboards in New York and other places, I believed his company was lawful.” His sister, Lori, pled guilty to “racketeering conspiracy and the illegal transmission of wagers,” according to the U.S. news outlet.

The St. Louis Post-Dispatch noted that Neil, Lori, and Tucker each will fork over money held in Swiss bank accounts as part of the agreement. The former two will spend time in a halfway house, but not be imprisoned for soliciting U.S. customers. Tucker will receive a one year probation and pay $15,000. The Post-Dispatch explained, “Assistant U.S. Attorney Steve Holtshouser said the sentences reflect the minimal roles that Neil Kaplan and Kaplan-Multz played, their lack of decision-making power there, and their willingness to surrender their BetOnSports money.”

Party Gaming entered into a non-prosecution agreement with the U.S. Attorney’s Office for the Southern District of New York in April. As part of its agreement, the company agreed to pay a $105 million fine over a three and a half year period. In December, one of its co-founders, Anurag Dikshit, admitted to violating the Wire Act of 1961 in a New York courtroom. He faces up to three years behind bars and will be sentenced later this year. Dikshit is in the process of paying a $300 million fine. Forbes noted that Dikshit has a net worth of $1 billion and currently resides in Gibraltar. He developed the client software for Party Gaming, which owns and operates PartyPoker.

Also in the background of today’s developments is the seizing of over $30 million in online poker payment processor funds by the U.S. Attorney’s Office for the Southern District, which is the main office charged with handling financial crimes. No legal action has yet been filed in the case. Poker Players Alliance Chairman Alfonse D’Amato, appearing on Fox Business, explained, “It is not illegal for a person to play poker on the internet. What the [UIGEA] did was say that the payment processors, the financial community, could not distribute these funds.”

No indication was given as to what Kaplan’s future now holds.

Utah Transit Authority Cracks Down on Internet Gambling

According to a story that appeared on Fox 13 in Salt Lake City, the Utah Transit Authority (UTA) is cracking down on its riders’ internet usage. Now, viewing pornography or gambling online will result in a $300 fine.

Fox 13’s Arikka Von broke the story, which appeared last week. When asked why UTA management implemented the new rules, Von explained, “UTA says it’s not because they had a bunch of complaints. The old ordinances are just that: old, at least 10 years old, so they have some new policies that include some of the new services like free WiFi.” On a national scale, online poker players have faced the same difficulties interpreting age-old laws like the Wire Act, which was enacted in 1961, nearly 50 years ago. The Wire Act, although passed before the advent of the internet, has been largely extended by the U.S. Department of Justice to include many forms of internet gambling.

Von noted, “A train ticket gets you free internet once you agree to the Terms of Service. That means no online gambling or viewing pornography. The UTA now has a new ordinance that fines passengers for illegal or offensive internet use on the train. The first violation is $300. Do it again and it could cost you $500.” The UTA is one of a growing number of transit systems to include internet onboard. American Airlines recently debuted Gogo Inflight Internet on cross-country trips. The service is available for a fee.

Enforcement of the UTA’s ban on internet gambling and pornography is done by the organization’s police force. Fox 13 noted, “These are real police officers,” and explained, “An officer will always try to educate first and foremost. Riders say they’ve never seen anyone watching porn on the train.” UTA has enacted a full appeals process if riders feel they were targeted unfairly. A representative of the transit system admitted that identifying what is acceptable and what is not can be a complicated process: “The definition can be very difficult to pin down for everyone.”

Interactive Media Entertainment and Gaming Association (iMEGA) Executive Director Joe Brennan told Poker News Daily, “I’m surprised that they’re going to waste anyone’s time enforcing internet gambling. I’m also disturbed with the constant association with pornography. Our opponents try to make that linkage constantly between gambling and pornography. All you have to do is look at the acceptance of all things gambling. There is no comparison between the two activities.” The term “internet gambling” is mentioned in the Fox 13 story just once, while references to pornography pervade the rest of the two and a half minute piece.

With regards to enforcement of the UTA’s guidelines through law enforcement personnel roving the trains, Brennan commented, “They’ll have police officers looking over the shoulders of riders. This announcement is someone grandstanding politically. The claim on internet gambling is dubious. The claim on pornography is also misguided.” Brennan added that viewing pornography is typically done in private, not in the middle of a commuter train in a major metropolitan area.

According to text found on the UTA’s website, the internet service provided by the transit system filters content automatically: “UTA’s service providers use content-filtering software that attempts to restrict access to offensive sites; however, no content-filtering software is totally effective. Please use the same precautions you would use accessing any public wireless network.” The service is available for riders age 18 and over.

iMEGA is fresh off filing a lawsuit against the Minnesota Department of Public Safety (DPS), which attempted to force the censorship of 200 internet gambling domains by its residents. The DPS served notice to 11 of the world’s largest internet service providers (ISPs) calling for the blockage. However, after iMEGA’s suit, it rescinded its notice.

Online Poker Players Turning to Bank Wires in Wake of Funds Seizure

In recent weeks, Poker News Daily has featured exclusive news regarding the controversy surrounding the United States Government’s seizure of over $30 million in online poker player funds.  Many regular players are now concerned that their own bank accounts might be flagged and that the checks they receive might not clear.

Paul Leggett, Chief Operating Officer of Tokwiro Enterprises (the parent company of both Ultimate Bet and Absolute Poker) spoke exclusively with Poker News Daily and explained how cashouts have been handled at the CEREUS Network sites: “Recently, one of our check provider’s bank accounts was frozen and it’s not known when the funds will be released.  The provider’s legal team and the Poker Players Alliance (PPA) are working on this matter.  Absolute Poker and Ultimate Bet immediately refunded players the amount of their withdrawal along with a bonus for the inconvenience.”

Leggett added, “Customer service is extremely important in online poker, especially when it involves players’ financial transactions.  Absolute Poker and Ultimate Bet recognize this and both sites continue to offer players the largest variety of easy-to-use deposit and withdrawal options.”

A staff member native to the United States working for Poker News Daily received a check from Absolute Poker for an amount between $500 and $750 last week.  The check came from a bank outside of the United States and was immediately cashed and cleared within 24 hours.

Reports have been coming in from U.S. online poker players who have received checks during the last two weeks.  For many, it seems that checks received after June 7th are clearing without issue.  Others have resorted to other means of withdrawing funds from Full Tilt Poker and PokerStars in the form of direct money wires.  For many, these incur additional fees, but offer a quick means of secure payment.  The bank wire method was suggested by the PokerStars Payment Services in a form e-mail sent to many players complaining of the longer turnaround time for checks:

Hello,

Due to a recent processing issue, we are currently experiencing a backlog of paper check cashout requests. This means that a number of paper check transactions, yours included, have unfortunately experienced a delay.

While you should still receive the cheque within our stipulated 15 business day timeframe, may we suggest that you may wish to consider a bank wire transfer cashout as an alternative.

We have recently lowered the minimum cashout value for this payment method to $1,000 … the payment will be sent by wire to be credited directly to your account in 3-5 business days….

Should you have any queries or concerns, please do not hesitate to contact us.

Best regards,

PokerStars Payment Services

Extra fees for bank wire services can be between $35 and $50, so it’s suggested that you seek additional details before receiving a wire.  As posted on various forums, wire requests sent in on June 9th were processed by sites on June 10th and received by players on June 16th.

The opinions keep coming in from many of the world’s top online poker players.  Michael Pearson, better known as “Vizer02,” weighed in on the situation: “The seizure of the funds by the Department of Justice is definitely a scary situation.  Last year when the Government stopped some processor’s payments, I had to wait six weeks to receive my cashout, which was very frustrating.  News like this can hurt the poker economy since casual players will be less inclined to play online poker because they are fearful of never being able to cashout.”

For now, poker players are highly encouraged to do their research into withdrawal methods and contact customer support for the poker room to ensure the transaction will go smoothly.

Doyle Brunson signs a deal with Poker Royalty

Poker icon Doyle Brunson signed a worldwide management and marketing representation deal with Poker Royalty. The deal includes all major platforms, including media, sponsorship, licensing, commercial endorsements and appearances.

(Disclaimer: These girls are not from Poker Royalty!)

“Texas Dolly” Brunson is considered to be the poker’s modern day patriarch. No one can deny his achievements as the living legend has been in a major role to uplift poker’s image. He has been one of the most important people to build poker as big as it is these days.

“I’ve heard nothing but good things about them. I’m a terrible businessman and dealmaker, so I’m glad to be able to turn over all that stuff to them”, Brunson says about Poker Royalty and the deal.

Currently Brunson holds ten WSOP bracelets, two of them which are from Main Events. These two Main Event victories came in 1976 and 1977 when Doyle held 2-10 as conclusive pocket cards. No wonder the hand is now known as the “Doyle Brunson”.

Nobody can question Doyle’s superior poker skills, but he’s a successful author as well. His ‘Super System’ can be considered as the basis of modern poker.

The founder and Chief Executive Officer of Poker Royalty, Brian Balsbraugh tells that representing Bruson is his career highlight. “If it weren’t for Doyle and his hard work the poker industry would not have evolved to the point where there could even be a Poker Royalty. I have no doubt we will do some big things together.”

You just read Poker News from HighStakesNews.com

Doyle Brunson signs a deal with Poker Royalty

NEOVIA CEO Ron Martin to Step Down May 31st

On the heels of a March announcement that NEOVIA CEO Ron Martin was departing the company for “family reasons,” the parent company of Neteller announced that his final day in office will be May 31st. Chairman of the Board Dale Johnson will then head NEOVIA until a permanent successor can be found.

On the search for a new executive, a statement made by NEOVIA to the London Stock exchange read, “The Board has commenced a process to select a new Group Chief Executive Officer and good progress is being made in this regard.” In the meantime, Executive Vice President Dan Starr and Chief Financial Officer Doug Terry will assist Johnson while the group finds Martin’s replacement. The interim CEO commented in a press release, “On behalf of the Board and management team, I would like to thank Ron for his significant contribution to the Group over four challenging years. In the current challenging market conditions, the Board and management team are focused on maximizing revenues in the short-term, maintaining control over costs, and preserving cash to deliver value for all shareholders.” No timeline has been given as to when the search for a new CEO will be completed.

In October, Neteller Plc announced that it would forever be known as NEOVIA Financial Plc after an approval by the company’s shareholders. The company was formerly traded in London under the symbol “NLR” and can now be found under “NEO.” In trading on the London Stock exchange on Friday, shares of NEO closed up ?0.75 to an even ?45.00. Over the past 52 weeks, NEOVIA’s stock has traded in a wide range between ?34.00 and ?72.50 with an average volume of 430,000 shares. Neteller remains one of NEOVIA’s brands and is used by several online poker rooms for taking deposits players from outside of the United States.

Highlighting NEOVIA’s financial transactions on Thursday was news that Franklin Templeton Investments held over five million ordinary shares, or 4.18% of the shares outstanding. A trade of 40,000 shares was entered on Friday at a price of ?45.21. NEOVIA has a total of 119 million shares available. Shareholders are now invited to head to the Isle of Man for the company’s Annual General Meeting, which will be held at the Claremont Hotel in Douglas on June 17th.

In 2008, NEOVIA reported revenues of $75.6 million, which was up 9% from the $69.1 million that the company saw in 2007. “Fee revenue” weighed in at $69.5 million, up a hefty 26% from 2007’s tally of $55.6 million. NEOVIA posted a profit before tax of $6.4 million in 2008, up significantly from 2007, when it incurred a loss of $12.8 million. The number of e-wallet users was 97,673 during the fourth quarter of 2008, down slightly from the final quarter of 2007, when the number of e-wallets was 99,984. Average daily signups (981 in 2008) were comparable year over year. Average daily receipts were down substantially in 2008 from 2007. During that time span, the financial indicator dropped from $656,000 to $457,000.

In October of 2008, NEOVIA launched the Net+ card to e-wallet customers. In addition, the company touted “enhanced core e-wallet functionality in 2008 for customer and merchant improvements.” The company also hinted that it will roll out Newteller, its “new business platform,” during the third quarter of 2009. Its major stakeholders include IIU Nominees Limited, which owns 26.03% of shares outstanding. UBS and Fidelity own 4.30% and 4.99%, respectively, while Standard Life Investments Limited owns 6.99% of shares. NEOVIA is based in the Isle of Man and also has offices in Cambridge (United Kingdom), Calgary (Canada), Macau, and Hong Kong.

Lee Jones Discusses the Future of Cake Poker

Recently, we reported that Lee Jones, the former Poker Room Manager on PokerStars, signed with Cake Poker. The agreement marks a coup of sorts for the USA-friendly site, the flagship member of a network that also includes Doyle’s Room, Poker Host, and Sportsbook.com, just to name a few. Poker News Daily sat down with Jones for an exclusive look at his role and the future of the site.

Poker News Daily: Congratulations on your new role with Cake Poker. Tell our readers what responsibilities you’ll be assuming.

Jones: My official title is Card Room Manager. One of my most important roles will be acting as a player advocate. You’re going to see me at live events, I’ll be playing on the site, and I’ll be hosting tournaments. I’ll also have an internal role where I’ll be consulting on tournaments and the client software. I’ve spent the last few days working with them. They’re great folks and we’re having a good time together. I’m benefiting from their perspective and they’re benefiting from mine. It’s a great opportunity for me and I hope I’ll be able to contribute a lot to Cake.

PND: You left CardRunners in February after serving as the poker training site’s Chief Operating Officer. How did you find your way to Cake Poker?

Jones: It’s a small business that we’re all in. I was talking to Nat Arem about something completely unrelated and he suggested that Cake Poker might be a good fit. One thing led to another and we got started from there.

PND: What made Cake Poker an appealing online poker site to sign with?

Jones: They were already on my radar because I was really impressed with an enterprise that could develop critical mass under the shade of PokerStars and Full Tilt. I thought they had something because it’s a tough business to break into.

PND: From what we’ve heard from players, Cake Poker could use a new software client. Do you agree?

Jones: We are working on it right now. We consider the client to be our weakest link. That came up in the initial conversation I had with Cake Poker’s senior management. My professional background is in software, so I’m really sensitive to that. We talked early on and agreed that the client is behind the times. I’ve seen what’s under development. There are people actively working very hard on a new client and I think it’s going to be state of the art when it comes out. It’s crucial to get the client up to standing with what PokerStars and Full Tilt Poker offer.

PND: After leaving PokerStars, you worked with the European Poker Tour for one year and then with CardRunners for one year. Are you looking forward to settling down with Cake Poker?

Jones: I am enthusiastic about this. It’s interesting coming from PokerStars, which we grew from a small into a big company. It’s fun being back in a small company and seeing if we can do this again. I spent 25 years in Silicon Valley and you’d see that with guys over and over. The fun part is growing the small company and seeing what you can do differently. You can look back on things that you did right and can do better. The staff here is great and a lot of them have strong industry experience.

PND: What will it take for Cake Poker to be on the same level as PokerStars in the eyes of players?

Jones: We’re coming up with a unique rewards program. We’ve got things like the Gold Cards and Gold Chips programs, but over the next year, you’ll see it expand into something that’s completely different than anything else in the business. Once we roll that out, it will blow people’s minds in how it affects the whole industry.

We are also departing from PokerStars’ path in some ways, but ones we think are good for the players. For example, we permit players to change their screen name every week. I advocated something similar to that in a blog post a couple of years ago. We allow tracking software only for monitoring your own results, not “fish finding,” if you will.

In short, we’re emphasizing poker as entertainment. That’s a very different model than Full Tilt, for example. They have a really strong brand message of playing against the pros. Our message is a different one and we think that’s good for us. Let’s not forget that poker is a game. In some respects, the only reason you play with money is because it’s a component that makes the game interesting. To many of us, it’s not about the money; it’s about the competition, the math, and the psychological battles. Money can quite literally be a way of keeping score.

PND: Talk about the importance of providing top-notch customer service, which you helped instill at PokerStars.

Jones: If you don’t respect what PokerStars did before, during, and after my tenure, you’re not paying attention, but there’s nothing in the world that says they’re the only ones that can do that. I worked at IBM for years and people said no one could surpass them; nothing is guaranteed. PokerStars is number one and Full Tilt is number two, but good ideas, good people, hard work, and executing plans – no one has a corner on that market. The beauty of the honest business world is that if we provide good customer service and a great player experience, we can advance. We are going to do that.

Lee Jones Signs with Cake Poker

On February 6th, longtime industry icon Lee Jones left his post as Chief Operating Officer (COO) of poker training site CardRunners after nearly a year with the company. Now, Poker News Daily can confirm that Jones has signed with Cake Poker.

StoxPoker co-founder Jim Varnon became the new COO of CardRunners, leaving supporters of Jones in the United States and around the world to wonder what the next chapter in his tale would be. On his reason for leaving CardRunners, Jones commented in a post on the site’s forums, “The issue is that we’ve got too many managers for the work that needs to be done, and that’s too many mouths to feed. Everybody else is tied to CardRunners by a substantial equity position, so I’m the natural candidate to step aside.” StoxPoker and CardRunners merged in September. Four months later, the two sites teamed up to introduce Truly Free Poker Training through Full Tilt, where CardRunners instructors are sponsored pros.

In the same post, Jones speculated on his future, claiming, “I don’t expect to be taking a regular job in (or out of) the poker industry in the foreseeable future. I have a couple of poker-related projects I’m looking at, but nothing even approaching full-time.” He’ll now join Cake Poker, the flagship site of the Cake Poker Network. The USA-friendly family of sites currently sits as the 10th largest worldwide according to traffic ranking site PokerScout.com, boasting a seven day running average of 1,660 real money ring game players; its 24 hour peak is a healthy 2,624. Other sites on the Cake Poker Network include Doyle’s Room, which is fronted by 10-time World Series of Poker (WSOP) bracelet winner and industry legend Doyle Brunson. Also making its home on the Network are Lock Poker, which played host to March’s Bluff Online Poker Challenge, and Players Only.

Poker World moved to the Cake Poker Network in April, while Poker Host joined in February after leaving Microgaming. Cake Poker happily accepts players from the United States and is part of the fourth largest USA-friendly network behind PokerStars, Full Tilt Poker, and CEREUS. Jones gained fame in the industry by serving as the Poker Room Manager of PokerStars until 2007. He epitomized top-notch customer service, earning PokerStars a reputation as a highly consumer-oriented site. He spent one year working with the European Poker Tour (EPT), which is sponsored by PokerStars, before heading back to the United States to work with CardRunners.

Many in the poker industry proudly own a copy of Jones’ best-selling book, “Winning Low-Limit Hold’em.” It was released in 2000 and can even be purchased on Amazon.com for the affordable price of $16.47. The book has received acclaim from Amazon.com customers, as out of 140 reviews submitted at the time of writing, 95 were for five stars, or 68%. Jones’ publication includes a series of quizzes to ensure learning along the way and weighs in at over 200 pages.

The Cake Poker Network now stands to gain a considerable amount of publicity and credibility as a result of adding Jones. Chris Wallace, an instructor for PokerXFactor.com who is known in the online poker world as “Fox,” told Poker News Daily, “Lee Jones signing with Cake Poker is going to mean that the site gets more exposure and people will know the name. Hopefully, Lee brings more professionalism to Cake Poker in terms of upgrading the online poker site’s software and getting people to show up.” The room is in the midst of qualifying its players for the 2009 World Series of Poker (WSOP) in Las Vegas through an ongoing Gold Chip Lottery. To date, a total of 53 Cake Poker members are headed to the “Big Dance” at the Rio to play in preliminary tournaments.

We’ll have more for you on Lee Jones joining Cake Poker as information is released right here on Poker News Daily.

It’s getting crowded in Monaco

Monaco has become a safe haven for poker players recently, as many European poker pros have moved there to avoid heavy taxing of their native countries or whatever reasons they got.

Sami “LarsLuzak” Kelopuro, one of the most successful cash game players in Finland along with Antonius and Ilari “Ziigmund” Sahamies, followed his friend Patrik, or should I say “Prince of Monaco” like Sahamies calls him, there recently as he received his permanent residency just days ago.

Two Princes of Monaco.

Kelopuro writes in his blog that it felt really good to hold his residence card, when he picked it up from the police station. “It’s like a piece of gold”, Kelopuro descripes it.

The weather is something that should be much better in Monaco and Kelopuro agrees with the assumption. Spring has already come to the Mediterranean city, temperature is over 20 degrees celsius and sun is shining almost every day.

Overall, Kelopuro likes it there in Monaco. His apartment is bigger than he had in Finland and people in Monaco are nice. He also thinks Monaco must be the safest place in earth. There are police officers almost everywhere you see. Monaco is a small country, but there is everything.

Source: coinflip.com

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It’s getting crowded in Monaco

CEREUS Unveils $530,000 Points Race

Starting on Wednesday of this week, players on CEREUS Network sites Ultimate Bet and Absolute Poker began competing in a high-stakes two month Points Race worth $530,000. The prize pool will be divided among the top Status Point earners.

While many people in the United States were busy scrambling at the last minute on Wednesday to file their taxes, players on Tokwiro-owned online poker rooms Absolute Poker and Ultimate Bet, both part of the CEREUS Network, were racking up Status Points and watching their names climb the UB 500 and AP 500 leader boards. The Points Race concludes on June 15th with the top 500 earners splitting a $500,000 prize pool. First place will grab $25,000, second place takes home $22,000, and third place will see their online poker bankroll grow by $20,000. Everyone who makes the leader board will receive at least $150 and the top 10 will pocket five-figure paydays.

Tokwiro Chief Operating Officer Paul Leggett told Poker News Daily, “Our players truly enjoy rake races and we wanted to give them one of the largest races in online poker history. Our $500,000 rake race is just one of the many promotions we will run this year to make online poker more exciting and competitive.” That’s not all, however. The top 1,000 Status Point earners will receive an invite into a special $30,000 freeroll scheduled for June 28th at 2:00pm ET. In total, $530,000 is up for grabs as part of the promotion, which more than doubles the prize money given away in last month’s CEREUS rake race.

Just a few days into the competition, SOUTHCJAY7 leads the pack in the UB 500, generating 14,116 Status Points. Right behind him is MAKE_IT_RAIN, who holds 10,679 Points. If the contest were frozen today, VOSS1313 (8,967), ANEW (8,862), MERKER1 (7,860), AIRKID3 (7,558), Z06FANATIC (6,699), MINUTEMAN233 (6,287), DURZAAAA (6,180), and JAMESRED111 (5,790) would all take home over $10,000. A total of 74 players will earn at least $1,000.

CEREUS was formed in November with the merging of the player bases of Ultimate Bet and Absolute Poker. According to PokerScout.com, which ranks traffic across the major sites, CEREUS is the seventh largest worldwide with a seven day running average of 2,250 real money ring game players. Its 24 hour peak is 3,416 and at the time of writing, which is mid-afternoon Eastern Time, there are 2,561 cash game players on its virtual felts. A press release distributed by Tokwiro this week reads, “Thanks to CEREUS, Ultimate Bet and Absolute Poker's Rake Race promotion continues to deliver on the promise of a bigger and better online poker experience for players at both online poker sites. So, settle into the driver’s seat and just keep earning STATUS Points to participate and secure a share of the $530,000 prize money up for grabs.”

“Celebrity Apprentice” candidate Annie Duke and 11-time World Series of Poker bracelet winner Phil Hellmuth serve as the front men ultimate Bet. This week on the popular NBC reality show, the two may square off on national television. In an ongoing task that asks teams to raise money for charity by auctioning off pieces from Ivanka Trump’s jewelry line, Duke’s opposition has solicited Hellmuth to come to New York and place a bid. Whether Hellmuth will actually turn out for the show is unknown. “Celebrity Apprentice” airs at 9:00pm ET on Sunday nights on NBC.

At the end of March, Ultimate Bet signed Matt “mattg1983” Graham to become the newest member of its Star Player Team, which also includes Adam “Roothlus” Levy, “Hollywood” Dave Stann, Tiffany Michelle, “Best Damn Poker Show” Season 1 winner Tracy Scala, and Michael Binger.

Ultimate Bet to Sponsor UFC 97

Chuck “The Iceman” Liddell will don an Ultimate Bet logo at the upcoming Ultimate Fighting Championship (UFC) event in Montreal on April 18th. Liddell will square off inside the Octagon against Mauricio “Shogun” Rua.

The Tokwiro-owned online poker site recently sponsored Martin “The Hitman” Kampmann at UFC’s first ever event held in Nashville, Tennessee on April 1st. Kampmann bore Ultimate Bet logos on his trunks and shirt as he won a judge’s decision over Carlos Condit. Tokwiro Chief Operating Officer (COO) Paul Leggett told Poker News Daily what makes the UFC a perfect fit for Ultimate Bet: “In our minds, online poker and the UFC have a lot in common. They each share a similar highly competitive spirit. Both MMA and poker have been around for a long time and recently, UFC and Texas Hold'em have also exploded in popularity. We look forward to a long marketing relationship.”

Anderson Silva squaring off against Thales Leites headlines the UFC 97 card. Other matches include Krzysztof Soszynski versus Brian Stann, Cheick Kongo versus Antoni Hardonk, Steve Cantwell versus Luiz Cane, Eliot Marshall versus Vinicius Magalhaes, Denis Kang versus Xavier Foupa-Pokam, Jason MacDonald versus Nate Quarry, and David Loiseau versus Ed Herman. The Bell Centre in Montreal will play host to the festivities, which get underway at 10:00pm ET and will unfold live on Pay Per View.

As part of its sponsorship of UFC 97, Ultimate Bet will receive not only a logo on Lidell’s in-ring attire, but also billboards and commercials at the venue. In addition, four other UFC fighters will don Ultimate Bet logos – Leites, Soszynski, Hardonk, and Marshall. All told, the CEREUS Network online poker site will receive a considerable amount of exposure. Leggett explained, “Personally, I am a huge fan of poker and the UFC, and I think I'm fairly typical of many poker fans who enjoy both sports. Our sponsorship of UFC is a great opportunity for us to showcase Ultimate Bet to an adult audience of sports fans. I can’t wait to see the UFC 97 event in Montreal on April 18th.”

Ultimate Bet was the official Canadian sponsor of World Wrestling Entertainment’s (WWE) WrestleMania XXV, which saw poker player Alex Cummings head to Houston. Cummings was the winner of an Ultimate Bet promotion that dished out two tickets to the marquee WWE event along with a variety of promotional items. He witnessed WWE legend Triple H retain his title against Randy Orton in WrestleMania’s featured match. Other highlights included The Undertaker defeating Shawn Michaels to retain his undefeated streak at WrestleMania (a healthy 17-0) and John Cena defeating both Edge and Big Show to become the new World Heavyweight Champion. The Ultimate Bet promotion was only open to Canadian members of the online poker community.

Leggett admires the marketing efforts of UFC, which has grown its product worldwide in recent years. He told Poker News Daily, “We are thoroughly impressed with the success of UFC's marketing strategy, specifically how exciting they have made Mixed Martial Arts. We are working on many initiatives this year to make online poker at Ultimate Bet more compelling for our players than any of our competitors, and we are confident we will see similar success.” There had been rumors swirling last month that UFC may switch online poker sponsors from Full Tilt Poker.

The CEREUS Network includes Ultimate Bet and Absolute Poker, which merged player bases last November. According to traffic ranking site PokerScout.com, CEREUS ranks as the seventh largest worldwide with a seven day running average of 2,400 real money ring game players. Its 24 hour peak is 3,273. CEREUS sites accept players from the United States. Poker News Daily Guest Columnist Annie Duke and 11-time World Series of Poker bracelet winner Phil Hellmuth serve as the main faces behind Ultimate Bet.

Pilgrim lands 2009 WSOP Main Event seat

The 26-year-old former loans officer booked his ticket to Las Vegas with a win in the WSOP Circuit event at Harrah's Rincon Casino and Resort near San Diego Tuesday, earning him a seat in the 2009 WSOP Main Event and a $125,775 payday.

But the Rincon ring is just the latest success story for the Guyana-born Pilgrim.

He has quickly emerged as the hottest player on the WSOP Circuit this season after cashing five times at WSOPC Atlantic City this past December and booking an $83,955 win at a prelim there in early March.

"Now look out," Pilgrim said. "I'm shooting for the gold bracelet."

Pilgrim, who has only been playing live tournaments for a little more than a year, beat well-known Las Vegas-based pro Esther "E-Tay" Taylor heads-up to book the win in California, stopping her bid to become the first female WSOP Circuit main event winner in history.

Jennifer Harman finished second in the 2005 WSOPC event at the Rio in Las Vegas, and Kathy Liebert took third at Rincon in 2007.

WSOP Media Director Nolan Dalla claims Pilgrim is a burgeoning poker star, blessed with "personality, likability, and great poker talent," and has great expectations for him at the WSOP this summer.

"To know me is to love me," Pilgrim joked.

The WSOP Circuit will hit Caesars Palace in Las Vegas from April 11-29 and Harrah's New Orleans from May 8-20 before the 2009 WSOP starts at the Rio May 27.

 

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888 Operating Income Grows 21% in 2008

In its 2008 end of year results released this week, 888, the parent company of Pacific Poker, revealed that its operating income grew by 21% last year to $262.5 million. In 2007, it reported operating income of $216.9 million.

888's casino arm saw its revenue balloon by 14% to $135.1 million in 2008, up from $118.1 in 2007. However, Pacific Poker's revenues dropped by 4% from $80.8 million in 2007 to $77.2 million last year. All told, 888 posted a profit before tax of $48.6 million during the 2008 calendar year, up 6% from 2007. This resulted in a final dividend of 2.9 cents per share.

Operational highlights for the brand in 2008 included 14 new business customers, including an arrangement with Sportech PLC, which was forged back in June. The addition of two new Bingo customers brought its total stable to nine and, on the same day as its earnings were released, 888 announced a partnership with the Racing Post, which it describes as “the pre-eminent horse-racing industry publication.” Also during 2008, the company launched 888sport.com and 888ladies.com.

888's Chief Executive Officer, Gigi Levy, commented in the company's earnings release, “We believe that this successful model, offering both B2B and B2C businesses, is key to growth in the online gaming market in the coming years. Despite the difficult economic circumstances during the last few months of 2008, our underlying business remained strong.” The company warned that its first quarter revenues in 2009 will likely be lower than its fourth quarter revenues in 2008, reflecting the downswing in the global economy.

In 2008, Pacific Poker became available in 11 languages: Russian, Polish, Czech, Bulgarian, Hungarian, Romanian, Lithuanian, Latvian, Estonian, Greek, and Japanese. The report by 888 also revealed that Pacific Poker may receive a makeover in 2009: “The Pacific Poker site will be given a new look and feel, with additional products and poker side bets enhancing the customer experience of the poker room.” Pacific Poker, like other online poker sites owned by publicly traded companies, does not accept customers from the United States. The decision came after the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA) in 2006.

The number of active customers on Pacific Poker sank from 170,988 during the first quarter of 2008 to just 158,557 during the fourth quarter. Consequently, its average revenue per customer fell from $128 to $107. On its lackluster close to the 2008 calendar year, 888 officials explained, “Due to the prolonged and deepening economic downturn, unprecedented challenging trading conditions were experienced following the end of the summer holiday season. Active customers played slightly less and volatile adverse foreign exchange movements exacerbated the effect on US$ denominated revenues.”

Nearly a quarter of a million new players deposited for the first time on 888's poker or casino platforms last year. It inked poker agreements with Poker Dome, Littlewoods, and Lucky Ace in 2008, further growing its presence in the marketplace. Similar to other internet gambling sites that do not accept U.S. players, 888 is keeping close tabs on the developments between the European Commission and World Trade Organization. Last week, the Commission's preliminary findings revealed the U.S. is in violation of its trade obligations due to its stance on internet gambling. A final report is due this month.

According to traffic ranking site PokerScout.com, Pacific Poker boasts the 13th busiest network worldwide in terms of cash game volume with a seven day running average of 1,100 players. Its 24 hour peak is nearly double that number, 2,174. At the time of writing, which is late afternoon throughout Europe, nearly 1,400 ring game players are seated at its virtual felts.