Online Casino News and Gambling News

March 25, 2009 - Online Casinos Bidding For Internet World Series of Poker

According to Gaming industry experts, Harrah's Entertainment appears to be in grave financial difficulty and unless they sell a few of their assets to relieve liquidity problems there is a good chance that they may go bankrupt.

The brand rights to the World Series of Poker is one of the assets of Harrah's that online casino operators are anticipating to buy.

Harrah's has never applied its rights online despite the fact that they have had control of the World Series of Poker ever since it purchased Binion's in order to gain possession of the world's top poker tournament.

Harrah's is reluctant to sell its rights to the World Series of Poker and would love to set up its own online casinos as soon as the Unlawful Internet Gambling Enforcement Act is repealed. An Internet poker room which carries the World Series of Poker logo would be in great demand but unfortunately Harrah’s Entertainment is not in a financial position to do so.

Rumor has it that Harrah's Entertainment is selling the Rio All-Suite Hotel and Casino in Las Vegas and that selling the brand rights to the World Series of Poker may save them from having to sell off any more of their casinos.

There should be a great demand by casinos who wish to expand into poker to buy the rights to control the WSOP'S Internet usage and if Harrah's liquidity problems continue to spiral down there is a good chance that they will have to sell it. With a reported loss last quarter of over four billion dollars it does not look as though they have any other option.

 

 

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