SEC probing top poker player’s bid for WPT
U.S. securities regulators said Friday they are formally investigating U.S. poker champion Doyle Brunson’s unsolicited $700 million offer in July to buy gaming entertainment group WPT Enterprises Inc.
News of the unsolicited bid, which was nearly double the company’s market value, sent WPT’s stock price soaring more than 50 percent in one day to an intraday high of $29.50.
The price then rapidly fell after the company said it was not able to reach Brunson or his attorneys for further information on the bid…
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Poker slang:
- REBUY - [1] To purchase additional chips after an initial buy-in, usually after losing most or all of the previous buy-in. This term is most often used in certain tournaments where if one loses all one's chips, or falls below a certain minimum chip level, for an additional sum of money one can purchase a fixed amount of additional tournament chips. Usually there is a time limit (The "REBUY PERIOD") as to how long rebuys are allowed. [2] The additional chips "rebought" in tournament play.
- BEE No. 92 (TM) - Trade name for the "diamond back" cards frequently used in casino games. Compare: RIDER BACK.
- WHEEL - A-2-3-4-5. Usually discussed in the context of lowball where it is the best possible hand. Can also refer to a 5-high straight in high games. Also: BICYCLE.
- POT LIMIT - A game where the maximum bet is determined by the size of the pot at the time. Note that a player wanting to raise first calls the bet, then totals the pot to determine the maximum amount he can raise.
- ACTION - Money that is being bet. "NO ACTION" means a hand or game has few bettors and fewer raisers. "Gimme some action" is ostensibly a plea for calls and raises.
- FLAT CALL - To call a bet. Emphasizes that the caller did not raise.
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