Everest Poker is Suing WSOP*

The World Series of Poker* is no doubt the biggest name in all of poker, and they are well paid for this recognition too.  Online poker rooms pay the WSOP* millions of dollars to advertise through their brand, and the relationships between Internet poker companies and the WSOP* is normally pretty good.  However, Everest Poker is one company that is not happy with the WSOP* and they are actually taking them to court over a disagreement. 

Everest Poker, which is one of the world’s leading poker sites, contends the World Series of Poker* breached a contract by showing a logo for Full Tilt Poker on the felt during an event that was being aired on RTL9 in France.  Everest says that the logo on the felt should have belonged to them and not Full Tilt Poker.

Everest has also stated that they let officials from both Harrah’s Entertainment (the WSOP*’s parent company) and the WSOP* know about the problem regarding RTL9’s coverage.  This issue was especially significant in France because Everest Poker draws a large amount of their revenue from France.  In fact, French players are the biggest beneficiary of the 32% rakeback deals that Everest offers people.

The law firm that Everest is using, Las Vegas-based Marquis & Aurbach, issued a statement regarding the case to reporters that read, “Every material breach of the agreement represents lost potential future profits, erosion of goodwill, and compromise of international business reputation.”

With Everest Poker deciding to sue the WSOP*, it looks as if an advertising agreement between the two companies is over.  And this would be a huge blow to the WSOP* from a financial perspective since Everest paid them $6.2 million in 2008, $7.9 million in 2009, and another $8.4 million this year for advertising.  In all, the three-year deal is worth $22.5 million.

* World Series of Poker and WSOP are trademarks of Harrah’s License Company, LLC (“Harrah’s”). Harrah’s does not sponsor or endorse, and is not associated or affiliated with RakeTheRake or its partners, products, services promotions or tournaments.

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