DOYLE'S ROOM S.E.C. ENQUIRY DROPPED?

15 June 2007

No infringements of federal securities law took place

Two years ago poker legend Doyle Brunson and his company together with unspecified investors hit the headlines in a surprise announcement that a $700 million offer for World Poker Tour had been tabled and was being considered (see previous InfoPowa reports)

The news sent WPT shares rocketing some 50 percent, but the excitement was short-lived as the deal unravelled, and the rapid sequence of events triggered a Securities Exchange Commission enquiry.

This week gambling portal 911 reported that the enquiry has been dropped. The SEC had been looking at whether Brunson and company broke federal securities laws with the offer itself, followed by the publication of the bid on his company's website.

No further details were available as we went to press.

Online Casino News courtesy of InfoPowa