October 25th Poker news ... Welcome! You have reached the best online forum for poker players. Stick around and chat about everything Texas holdem how to
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POKERSTARS PARENT LOSES OUT ON ATLANTIC CITY APPEAL (Update)2013-07-02
The Rational Group, parent company of Pokerstars and Full Tilt Poker, has suffered another legal setback in its attempt to establish a foothold in the nascent New Jersey online gambling market by buying troubled land casino the Atlantic Club (see previous InfoPowa reports).
On Monday a New Jersey appeal court rejected the company's appeal against an earlier decision in a lower court that Atlantic Ciub was within its rights to withdraw from an acquisition deal with Rational after the agreement ran out of time due to licensing delays.
By then Rational had handed over $11 million to Atlantic Club owners Colony Capital as a gesture of good faith and to help the casino to survive; the American judges have ruled that Colony is within its rights to keep that money.
In its appeal, the Rational Group claimed the judge in the initial hearings made several errors. It also argued that its $15 million purchase deal should be reinstated, noting it has already given The Atlantic Club $11 million.
Commenting on the successful outcome of the appeal for Atlantic Club, chief operating officer Michael Frawley said the casino was clearly pleased with the result of the litigation.
"Our intentions have, and will continue to be focused on the aggressive pursuit of New Jersey's emerging online gaming opportunities," Frawley said.
Pokerstars-Rational Group had not commented when InfoPowa went to press Tuesday morning.
There has been speculation that Atlantic Club used the licensing delay to pull out of the deal because a more attractive alternative may have developed.
The casino was in financial trouble prior to the Rational deal, which put an acquisition price of $15 million on the table and also involved a commitment by Rational to fund a potential $32 million shortfall in the employee pension account.
Rational also had discussed investing an additional $20 million to $40 million into the property once the deal was completed.
As things stand at present, Atlantic Club has not only succeeded in withdrawing from the agreement, but it is keeping the $11 million handed over so far by Rational Group.
CANADIAN PLAYERS SCORE AGAIN AT WORLD SERIES OF POKER2013-06-24
Canada's bracelet count at the Football Live Betting Lines nfl football betting Online Bingo NFL Odds
World Series of Poker continued to mount as the new week began, with Justin Oliver of Toronto and David Idema from Vancouver winning bracelets - making it nine for Canada thus far.
Oliver, a 37-year-old jeweller, claimed his first WSOP bracelet in the $2,500 buy-in No-Limit Hold'em Four-Handed event - number 38 on the WSOP schedule - along with the main prize of $309,071 after coming out tops in a field of 565 other players, many of them respected names in the game.
The entry field generated a prize pool worth $1,287,650, enabling 64 players to cash for a minimum of $4,223.
The Canadian did not look promising at all in the last phases of the game, especially in the six-and-a-half-hour final table, but staged a remarkable come-back which saw him prevail into the heads up against Nick Schwarmann. Despite Schwarmann's 6 to 1 lead Oliver kept his cool and played a few double ups finally enabled him to take the lead and ultimately despatch Schwarmann in the 115th hand of the heads up for $191,434.
The other two finishers were:
3rd: Jared Jaffe - $129,447
4th: David Pham - $89,736
Vancouver professional player Daniel Idema (29) last won a WSOP bracelet - his first - two years ago and was clearly delighted to enjoy the winning experience again in event 39, $1,500 buy-in Seven-Card Stud.
Idema had to get the better of 557 other entrants in the event, which after three days thinned out to a final table comprising Idema, along with Joseph Hertzog, Raul Paez, Matt Vengrin, Mike Leah, Tony Gill, Fei Chu and Artie Cobb.
The heads up in this event was between Idema and fellow Canadian Joseph Hertzog, although at one stage in three handed play Spanish player Raul Paez looked as if he was going to take the title and the big money with a significant chip lead. The vagaries of poker intervened however, and Paez went out in third for $71,736.
Hertzog held the lead going into the 92-hand heads up, with both players celebrating with a round of drinks, but the amiable exchange did not dull the competitive edge of both players as the fight for supremacy and the bracelet began in earnest. Idema steadily played himself back into the game to ultimately send his opponent to the cashier's cage for a second placing cash of $114,109, leaving Idema to celebrate his second bracelet and a bank account-boosting main prize of $184,590.
It was his fifth WSOP final table, his nineteenth WSOP cash in 28 career live tournament cashes, and his second WSOP bracelet and his third firt place win.
Other final table players in the decent money included:
4. Matt Vengrin $51,488
5. Mike Leah $37,552
6. Tony Gill $27,834
7. Fei Chu $20,964
8. Artie Cobb $16,037
2015 Kentucky Derby Odds2015-04-15
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