Jared Allen Done Caught a Case of the Schisms


By 08.28.09

Some people will insist that poker on ESPN is nothing short of a sign of the apocalypse, and though I respectfully disagree, I see their point. But there are signs that people might finally be growing tired of watching other people play cards: World Poker Tour Enterprises was gobbled up by PartyGaming earlier this week, a sign of reorganization from which the weekly television program showing the endings of worldwide tournaments may or may not recover:

PartyGaming PLC (PRTY.LN) has agreed to acquiring nearly all of WPT Enterprises Inc.’s (WPTE) operating assets, ending a buyout deal the operator of the World Poker Tour had with an investment group.

PartyGaming will pay $12.3 million as well as 5% of the revenue generated by the assets.

WPT has been beset by years of losses and missteps. Its stock has slumped from $29.50 at its mid-2005 peak to a low in November of 15 cents. The stock rose 8.6% after-hours to $1.14. via, via.

There are quite a few things even poker players hate about the WPT, mainly that the six-handed final table and largely-disproportionate chip stacks don’t lend the telecast to showing “real poker.” NBC faces a similar quandry with its new “Face The Ace” poker show, where random people play heads-up matches against better-known pros. Conversely, ESPN has extended its relationship with the World Series of Poker; the monolith will be televising guys playing cards through 2017. Whatever. That’s just less time for them to air anything on Brett Favre.


Join The Discussion


Join the discussion. or Register