SEC Probes Poker Star’s Bid For Tour Operator

(Dow Jones/AP) WASHINGTON The Securities and Exchange Commission Friday said it is investigating poker star Doyle Brunson’s $700 million bid earlier this year to take over World Poker Tour operator WPT Enterprises Inc.

The SEC said that it is conducting a formal investigation into whether Brunson’s offer and a decision to publicize the offer violated federal securities laws.

WPT shares had surged 49 percent on July 8 after the offer was publicized, closing that day at $26.50 a share. The stock price later declined…

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Poker glossary:

CRYING CALL - A call made with little chance of ultimately winning, but marginally better than an immediate fold.
OPEN-ENDED STRAIGHT - Four cards to a straight which can be completed by drawing a card at either end. E.g., 6-7-8-9 is an open-ended straight. Also: BOBTAIL STRAIGHT. Compare: INSIDE STRAIGHT.
TOP PAIR - In flop games, having a hole card that matches the highest card on the board.
TABLE STAKES - A standard rule whereby during a hand players can only bet the money they have on the table. If the bet to a player is more than the player's stack, that player may call with all his chips and be eligible to win only that portion of the pot he contributed to equally. A side pot is created, for which only the remaining players may compete.
STEAM - Playing wildly, calling and raising a lot, because one is upset. Compare: ON TILT.
STUD - Any of several poker games in which some of each players' cards are exposed.

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