July 13, 2005

NEW YORK, U.S. poker champion Doyle Brunson confirmed in a brief statement on Wednesday that the $700 million offer to buy gaming entertainment company WPT Enterprises Inc. (WPTE.O: Quote, Profile, Research) has officially expired.

Last week, WPT said a group of investors led by Brunson submitted the offer, asking for a response by Tuesday, with a one-week extension provision. News of the offer, which was nearly double the company's market value, sent WPT's stock price soaring 50 percent to $29 on Friday.

WPT said it tried to obtain additional information about the offer but was unsuccessful. The company indicated on Monday that it would not reply by Tuesday and would not seek an extension.

"...The proposal was not accepted by the company nor was an extension of time requested. Accordingly, the proposal expired by its own terms," Brunson said in an e-mailed statement on Wednesday.

Shares of WPT fell 47 cents, or 2.1 percent, to $21.51 in early trade on Nasdaq. The company owns the World Poker Tour, the popular television series broadcast on the Travel Channel cable network, as well as an online gambling Web site.

The World Poker Showdown is making another appearance due to last year's great success and this year it's just in time for Christmas. This year the turnout for the Poker Tournament's Caribbean Cruise is expected to double and maybe even triple last years count. So, if you haven't made any Christmas plans yet, stop on by the website, www.worldpokershowdown.com and signup for your Christmas Vacation of a lifetime.