Last month the assets of the bankrupted Federated Sports+Gaming went up for auction and the crown jewel of those assets was the Heartland Poker Tour, one of the few profitable entities owned by FS+G. The winning bidder for the Heartland Poker Tour was Pinnacle Entertainment, who was also one of FS+G’s creditors and attempted to purchase the Epic Poker League prior to the bankruptcy. Pinnacle came in with a top bid of $4.2 million for the HPT, as well as scooping-up the rest of the FS+G assets for a mere $300,000.
On Wednesday Pinnacle released their Q2 financial statements and in the quarterly report the poker world got the first taste of what Pinnacle’s plans for the HPT are going to be, as Anthony Sanfilippo, the president and chief executive officer of Pinnacle Entertainment stated in the financial report:
“In July, we extended our development strategy and growth pipeline with the acquisition of the assets of Federated Sports and Gaming, Inc. and Federated Heartland Inc. Through the Heartland Poker Tour purchase, we acquired an impressive portfolio of brands and intellectual property that will help us advance a new line of business and our online gaming strategy. We also plan to expand the Heartland Poker Tour and more extensively integrate its events into our property portfolio. We expect the Heartland acquisition to be accretive.”
This should be welcome news for the many poker players across the country that have found the HPT to be one of the best-values, and best-run tournament series, in tournament poker. Now entering its eighth year, the Heartland Poker Tour is focused mainly in the Midwest and South of the country, an area where Pinnacle Entertainment has several properties that will likely be added as HPT stops.
The Heartland Poker Tour is currently in New Mexico at the Route 66 casino where the tour will remain until July 29, 2012. From there the HPT will head to Colorado, Missouri, Florida, Iowa, Nevada, back to New Mexico, and finally for the first time Season 8 of the HPT will conclude with a tournament aboard a cruise ship. Here is a look at the remaining stops on Season 8 of the HPT:
Colorado – Golden Gates Casino
• 09-03-2012 – 09-16-2012
***This is a 21 or older event***
Missouri – River City Casino & Lumiere Place
• 09-21-2012 – 09-30-2012
***This is a 21 or older event***
Florida – Daytona Beach KC & Poker Room
• 10-05-2012 – 10-14-2012
***This is an 18 or older event***
Iowa – Prairie Meadows Racetrack and Casino
• 10-15-2012 – 10-21-2012
***This is a 21 or older event***
New Mexico – Route 66 Casino
• 10-26-2012 – 11-04-2012
***This is a 21 or older event***
Nevada – Palms Casino Resort
• 11-02-2012 – 11-11-2012
***This is a 21 or older event***
HPT on the High Seas Hosted by Cardplayer Cruises
• 01-19-2013 – 01-26-2013
***This is an 18 or older event***
For more information on the Heartland Poker Tour you can head to their website at www.hptpoker.com
