Poker News Media blog: February 2010

Tuesday, February 23, 2010

The inaugural PokerStars North American Poker Tour (NAPT) Main Event on U.S. soil kicked off on Saturday at the Venetian, drawing a field of 872 players, according to PokerStars officials. The tournament had a cap of 890 entrants.

A total of 89 tables were set up at the Venetian in Las Vegas and a bevy of PokerStars-sponsored pros and celebrities were in the mix. “Seinfeld” actor Jason Alexander, who finished 17th in the Ante Up for Africa event during the 2007 World Series of Poker (WSOP), was among the most visible players in the room. Joining Alexander were the likes of baseball great Orel Hershiser, Darus Suharto, Bill Chen, reigning WSOP Main Event champ Joe Cada, Daniel Negreanu, Joe Hachem, Chris Moneymaker, 2009 Bluff Player of the Year Jason Mercier, Dennis Phillips, Steve Paul-Ambrose, Tom McEvoy, and Vanessa Rousso. Also in the house was Scotty Nguyen, a five-time bracelet winner.

One of the hot topics of debate leading into the $5,000 Main Event of the NAPT Venetian was whether Full Tilt Poker pros would turn out to the PokerStars-sponsored tournament. Sure, enough, several were spotted in the field, including Gavin Smith. Also to be found was Full Tilt Poker’s Justin “Boosted J” Smith, whose pocket kings held up against another player’s pocket jacks to scoop a sizable pot and get the day started off on the right foot. However, no Team Full Tilt members appeared to be in attendance.

Eliminated on Day 1 was Kevin “BeL0WaB0Ve” Saul, who ran pocket kings into another players’ pocket aces. Also sent packing was Billy “Patrolman35” Kopp, a UB.com pro. Kopp flopped a boat with pocket threes on a 6-6-3 board and his opponent held 6-4 for trips. However, a four peeled off on the turn to give Kopp’s opponent a better full house and a three failed to hit the river. Kopp finished 12th in the 2009 WSOP Main Event, ultimately exiting in a dramatic flush over flush situation against eventual runner-up Darvin Moon.

On a board of A-K-7-8-Q, Hevad “RainKhaN” Khan called all-in with A-K for top two pair. However, Danny Wong showed pocket sevens for a set to send Khan to the rails. Khan, a PokerStars-sponsored pro, finished sixth in the 2007 WSOP Main Event and cashed for $956,000. In the process, a rule regulating excessive player celebrations was established in his name.

Also making waves on Saturday was online poker star Andy “BKiCe” Seth, who had a pile of 120,000 chips by 5:15pm PT. Seth final tabled the Full Tilt Poker Sunday Brawl in November for $19,000. His big claim to fame in the live world is finishing second in a $1,500 No Limit Hold’em tournament during the 2009 WSOP for $372,000.

A total of 128 players will finish in the money and the prize pool amounted to just over $4 million. First place is scheduled to take home $827,000 and the minimum payout is $7,200. According to PokerNews, those who are well on their way to earning the top prize include Wong, Nam Le, and Full Tilt's “Miami” John Cernuto, who hold 89,00, 81,000, and 75,000 chips, respectively. Also among those sitting pretty at the time of writing is Cada, who amassed a stack of 67,000, more than double the starting total of 30,000.

There were 650 players remaining during Level 7, with select chip counts given below. All numbers are according to the official website of PokerStars:

Andy “BKiCe” Seth – 120,000
Erica Schoenberg – 90,000
Andreas Hoivold – 70,000
Christian “charder30” Harder – 61,000
Joe Cada – 50,000
John “The Razor” Phan – 48,000
Adam “Roothlus” Levy – 45,000
Darus Suharto – 45,000
Jimmy “gobboboy” Fricke – 42,000
Eric Levesque – 42,000
Steve Paul-Ambrose – 41,500
Kevin Schaffel – 41,000

Eight one-hour levels will be played on Saturday. Starting on Sunday, each blind level will run for 75 minutes. We’ll have NAPT coverage for you right here on Poker News Daily. (Credit: Poker News Daily)

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Sunday, February 21, 2010

PartyGaming, PartyCasino and PartyPoker Profiles Updated

Friday, February 19, 2010

PartyGaming rise, broker ups to "buy" - 18th February 2010

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Shares in online gambling group PartyGaming add 2.1 percent after Oriel Securities raises its recommendation on the firm to "buy" from "hold", saying it looks undervalued, citing its growth potential.

The broker says based on its forecasts of $158 million of EBITDA in 2010, the shares are trading on an adjusted price earnings ratio of 13.2 times and 8.7 times EBITDA.

"This is an undemanding rating for a growth stock which is active in entering new regions," it says.

"The group is also well positioned to participate in the consolidation of the online gaming sector with clearance from the U.S. Department of Justice and around $120 million of cash resources to pursue M&A opportunities."

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Thursday, February 18, 2010

World Poker Tour® Returns to France for the WPT Grand Prix de Paris

Aviation Club de France Will Host Annual Televised and Non-Televised WPT Events, Kicking off May 8 – 13, 2010

LOS ANGELES - World Poker Tour® (WPT) is returning to France for one of its premier annual European tour stops, WPT Grand Prix de Paris at Aviation Club de France. Scheduled for May 8 – 13, 2010*, the €10,000 main event will be filmed for worldwide television broadcast.

"The Aviation Club de France is delighted to welcome back a WPT event in Paris,” said Bruno Fitoussi, poker consultant for Aviation Club de France. “The WPT Grand Prix de Paris is guaranteed to be a high-class tournament in the highlights of the international poker scene and will, for sure, attract players from all around the world."

Home of the best cash games in Europe, Aviation Club de France is located in the heart of Paris on the Champs-Elysées, known as “the Most Beautiful Avenue in the World.” The Aviation Club de France was created in 1907 by a group of aviators whose achievements conjure the most remarkable moments in aviation history. In addition to elegance and sophistication, the Club offers a variety of table games including Baccarta, poker Black Jack (Parisian Style), Punto Banco, Caribean Stud Poker and more.

Land-based satellites for the WPT Grand Prix de Paris main event will begin at Aviation Club de France on May 1. Schedules and additional details will be available soon at www.aviationclubdefrance.com.

Aviation Club de France will also host a non-televised WPT event in early 2011. For more information and the complete WPT tour schedule, visit World Poker Tour.

*Dates are subject to change.

ABOUT WORLD POKER TOUR

World Poker Tour (WPT) is one of the most recognized names in internationally televised gaming and entertainment with brand presence in land-based tournaments, television, online and mobile. Leading innovation in the sport of poker since 2002, WPT ignited the global poker boom with the creation of a unique television show based on a series of high stakes poker tournaments. WPT is now broadcast globally in 150 countries and is currently filming its all-new eighth season for broadcast on Fox Sports Net’s national sports network in the United States. WPT also offers a unique online subscription and sweepstakes-based poker club, ClubWPT.com, which operates in 38 states across the U.S. WPT also participates in strategic brand license, partnership and sponsorship opportunities. WPT is a subsidiary of PartyGaming Plc. For more information, see World Poker Tour.

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Wednesday, February 17, 2010

PARTYPOKER GIVES NOTICE OF THE INAUGURAL ONLINE CASH GAMES CHAMPIONSHIPS (OCGC)

PARTYPOKER.COM INTRODUCES THE INAUGURAL ONLINE CASH GAMES CHAMPIONSHIPS (OCGC)!

Gibraltar – 16th February 2010 – PartyPoker.com is delighted to give notice that in March they will be hosting the inaugural Online Cash Game Championships (OCGC).

A PartyPoker.com spokesman said: “ Anyone can claim the crown: you don’t have to be a regular at the high-stakes tables. It’s a long, hard road to victory with $250,000 waiting to be won, the tables are sure to be packed this March. But, when the dust has settled, only the most skilful cash players will take the plaudits.”

The competition is divided into seven levels. At each level, players will need to play 400 hands in a day with the most profitable players advancing towards the final table which takes place on 2nd April. As the participants progress through the levels, cash prizes will be added and both the stakes and the quality of the opposition will increase. The first stage of this epic challenge runs from 1st to 5th March on PartyPoker.com’s $0.50/$1 no-limit hold’em cash tables.

Please note that customers have to opt in to take part in the Online Cash Game Championships.

See: PartyPoker.com for more information.

** Canadian VIP Hockey event – There are 120 all star NHL packages up for grabs for Palladium Lounge members this month: see: PartyPoker.com for more information.

PartyPoker.com is also offering $1 million in guaranteed WPT packages between February and May. See: PartyPoker.com for the details.

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PartyGaming Casino Bets Boost Fourth Quarter; Satisfied players and management, by Greg Tingle - 17th February 2010

Online gambling group PartyGaming last week reported a 32% rise in fourth quarter sales as the thawing economic climate prompts punters to return to its virtual poker and casino tables to play the group's improved online games.

The company, which is listed on the London stock exchange but based in tax-friendly Gibraltar, said sales rose to $132.2 million in the three months to Dec. 31 from $100.4 million last year, helped by two acquisitions and a particularly strong performance in its casino division which offers online casino games like slots, blackjack and roulette, online poker games, sports betting and spread betting services.

PartyPoker.com remains the companies flagship brand however in the past 12 months PartyCasino.com has experienced considerable growth and brand presence, boosted by both branded slot games like Rambo, Mission: Impossible, Top Gun, Call Of Action 4: Modern Warfare, Resident Evil, The Terminator, Saturday Night Fever, The Godfather, a host of Marvel Entertainment themed games, and the recent news media campaign of which cricket and reality TV figure Phil 'Tuffers' Tufnell is the front man for.

PartyGaming is still on the look out for more igaming and betting sector companies to buy up following it's successful purchases of World Poker Tour and Cashcade. Earlier this month PartyGaming inked a "white label" deal with London Capital Group enhancing its spread betting offerings.

The company is the world's biggest listed online gaming group by market capitalization, derives most of its revenue from online poker and casino games and owns and operates a more modest sized sports book and bingo business, which is currently on the upswing.

Finance director Martin Weigold told reporters on a conference call following the results that casino revenue was boosted by a customer who won $5 million in one of the group's large jackpots and recycled $2 million of that win back into PartyGaming's casino website.

Weigold advised that the unusually strong sales rise is not sustainable going forward into 2010, however the company still expects to report double digit sales and profit growth in the year.

The bullish outlook for 2010 sits comfortably with the group's 2009 earnings, which it expects to be ahead of its own board forecasts.

Weigold said market consensus is for 'clean' earnings before interest, tax, depreciation and amortization, or Ebitda, of $132 million in 2010, and PartyGaming expects to outperform this.

'Clean' Ebitda is the company's preferred measure of profitability and excludes one-off, non-recurring and non-cash items. It is due to report is full year results March 4.

The good news buoyed PartyGaming shares, up 3.2% or 9 pence to 294p.

Alongside casino improvements, PartyGaming also reversed an 18-month trend of quarter-on-quarter revenue declines for its poker division, posting a 9% rise in sales to $49.1 million.

PartyGaming's poker operations had been under pressure due to competition from rivals, and the company has reacted by increasing the bonuses paid and expanding its loyalty programs (PartyPoints and Palladium Lounge)to encourage customers onto the site and retain them. Certainly Asia Pacific - Australian based players are sticking with it, based on feedback and buzz passed onto Asia Pacific's Media Man and Casino News Media firms.

The online gaming sector was hit by the passing of the Unlawful Internet Gambling Enforcement Act in October 2006 which effectively shut down the ultra lucrative market in the U.S. In Europe though, E.U. competition rules have prompted countries to start to open up their regulatory regimes to new players, and PartyGaming is looking to expand its operations when this happens.

It already has a growing presence in Italy, and with France and Denmark due to formalize regulation this year and next, the company is confident of its future growth prospects. South Africa, South America and India also appear to be countries well suited to grow the business. The Australian market is on fire says industry insiders. Australians remain some of the world's most passionate punters, in the top ten says recent figures quoted in the likes of Forbes, News Limited, Fairfax, WSJ, AP and Google News. The Aussie's are massive fans of the Hollywood blockbuster slot games and Marvel Entertainment titles Thor, The Incredible Hulk, Fantastic Four and The Amazing Spider-Man. Insiders advise Aussies are punting big in search of the Marvel Hero Jackpot, almost as popular as Party's 'The Big One' and 'Gold Mega Jackpot', currently sitting on approximately 3 million dollars.

PartyGaming is well aware that it's in the entertainment business and is pro active in putting the Business in Show, while maintaining happy punters, clients, partners and investors.

In addition the company is in discussions with other operators about potential deals and takeovers, although Chief Executive Jim Ryan wouldn't be drawn on whether a transformational deal would be forthcoming this year. Bwin's name keeps coming up, but its one of dozens who are keen to ink high end deals with PartyGaming.

Numis analyst Andrew Wade said he believes PartyGaming's fourth quarter performance should position it well for any merger and acquisition discussions, "as well as confirming it as an attractive partner for State and Private companies wanting to enter new markets."

The company is currently experiencing considerable growth in the Asia Pacific - Australian region, and is poised to return to the United States market, which compliments its strategic purchase of World Poker Tour, not to forget masses of U.S residents keen to play PartyGaming's Hollywood blockbuster slot games.

PartyGaming is expected to have presence at the upcoming iGaming Business event in Sydney, Australia this coming March.

*The writer has a b2b relationship with PartyGaming, as they do with dozens of brands in the igaming, gaming, media and entertainment industry.

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Saturday, February 6, 2010

PartyGaming News: Online gamers set for consolidation wave in 2010

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Consolidation among online gaming firms is set to spark into life in 2010 with a possible deal between PartyGaming and Austria's bwin seen as the potential catalyst for a wave of takeover activity.

"I think 2010 is going to be the determining year," said one senior executive of an online gaming group who asked not be named.

"I do think there's going to be a domino effect, meaning the first deal gets everybody else to run. You don't want to be the last one left without a partner."

If a merger of Party and bwin were to materialize, it could cajole the likes of 888, Sportingbet and Playtech into tie-ups.

Traditional betting firms like Ladbrokes, William Hill and Paddy Power may also look to make acquisitions to boost their online presence.

Numis analyst Wyn Ellis says M&A activity across the sector is "inevitable."

"We believe that consolidation talks are widespread across the online gaming sector and that most companies could be considered to be both potential industry consolidators and takeover targets," he said.

Party and bwin have held early stage talks about a combination which would pair Party's strength in online gaming with bwin's expertise in sports betting.

Analysts say the logic behind the deal is compelling.

"Such a deal would bring Party the critical mass in sportsbook that it lacks, while for bwin, Party's casino and poker products would provide a significant boost to its presence in these markets," said KBC Peel Hunt analyst Nick Batram.

Daniel Stewart analyst James Hollins described the combination as "pretty epic."

"The combination would be very strategically strong. It's a pretty neat fit. PartyGaming is a very good poker brand. To combine that liquidity with bwin's network would be pretty impressive," he said.

Bwin shares have risen by over 300 percent since the beginning of 2009, boosted by ongoing merger speculation, a more favorable regulatory environment and the wider rally in Austrian shares, giving it a market value of $2.2 billion.

That compares with PartyGaming's $1.8 billion valuation, suggesting bwin would be the senior partner in a merger.

"The fact that bwin has edged ahead in terms of market cap may mean that the deal could happen earlier rather than later," said Cheuvreux analyst Alfred Reisenberger.

Hopes of industry consolidation and optimism over growth prospects are reflected in the companies' valuations.

Bwin is trading at around 24.5 times forecast 2009 earnings, compared with a price-earnings ratio for the Wiener Boerse Index of 21.7. PartyGaming is trading at 19.9 times forecast 2009 earnings, compared with a price-earnings ratio of 18.5 for the FTSE All Share Index.

Bwin's previous attempt to enter the lucrative poker market was ill-fated.

It bought Swedish poker operator Ongame in 2006 for almost half a billion euros to get a foot in the door of the United States poker market but its plan was scuppered when the United States effectively outlawed online gambling later in 2006. Bwin wrote off the entire investment in the same year.

Analysts say a number of factors have combined to make sector consolidation more likely over the next twelve months.

Most significant has been PartyGaming's agreement with U.S. authorities which will protect it from being prosecuted over its past activities there.

Deutsche Bank analyst Richard Carter said the settlement had given the online gaming sector "significantly more certainty and confidence and has enabled the capital markets to better understand the potential exposure of other online gaming companies that operated in the U.S."

Other online gaming companies which previously had U.S.-facing activities such as 888 and Sportingbet are also in talks with U.S. authorities with a view to reaching settlements.

The threat of retrospective action being taken against companies created enough uncertainty to derail deals such as Ladbrokes' proposed takeover of 888 which floundered in 2007.

The easing of those fears and greater clarity over the way the industry is regulated have led to banks being more comfortable with the sector and, therefore, more willing to provide credit for deals.

($1=.7122 Euro)

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Thursday, February 4, 2010

Gambler gives PartyGaming a £1.8million boost - 3rd February 2010

Online betting firm PartyGaming reported fourth-quarter revenue up by a third yesterday, helped by a single gambler who poured more than half of his £3.1million jackpot straight back into its slot machines.

The punter grabbed the huge rollover on the group's PartyCasino site, after PartyGaming hiked the amount it pays out for jackpot wins.

But after withdrawing £1.3million, he ploughed the remaining £1.8million into the group's slot machine games and lost the lot.

The unexpected cash injection helped PartyGaming to increase revenue by 32 per cent to £87.2million during the quarter, but the company also cited strong growth in all four of its divisions - casino games, poker, bingo and sports betting.

Chief executive Jim Ryan is thought to be close to tying up a merger with Austrian-based rival Bwin, in a deal that would create a £2billion gaming titan.

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