The Mandalay Media last-minute attempt to snatch World Poker Tour Enterprises from earlier bidder and Party Gaming subsidiary Peerless Media continued to excite press casino gambling attention going into the weekend.

In what appeared to be a response to possibly counter bidding and casino games, Mandalay Media increased its $35 million cash and stock offer further on Friday. This latest offer to WPT represents a premium of approximately 61 percent over the closing price of WPT’s common stock on October 26 and a premium of approximately 28 percent over the implied value of WPT’s pending asset sale with Peerless.

WPT certainly appears to have the right sort of appeal for would-be purchasers; in March this year, privately held investment group Gamynia Limited made an offer for the gambling company which was subsequently rejected after PartyGaming subsidiary Peerless Media tabled a better offer.

Under the terms of the Peerless Media proposal, WPT Enterprises would receive $12.3 million followed by an on-going 5 percent share of revenues generated from the assets.

Mandalay Media’s last minute attempt to snatch World Poker Tour Enterprises from PartyGaming’s acquisition casino offer appears to have failed.

The special shareholders’ meeting which Mandalay sought to have postponed was held on the 30 October as planned, and the Party Gaming deal has been accepted by the shareholders despite being substantially inferior - on paper at casino games least.

The Mandalay offer put $35 million in cash and stock on the table, pricing the business at a 54 percent premium over the WPTE’s closing price on 26 October, and enabling investors to directly benefit. In contrast, the earler Peerless Media (a subsidiary of Party Gaming) bid, put up $12.3 million in cash to the casino company, and 5 percent in revenue sharing going forward.

Mandatory SEC declarations by World Poker Tour Enterprises Monday morning explain why shareholders rejected an offer for the gambling company that was three times the value of one already on the casino games table.

The Form 8-K filed by WPTE advises that the directors considered an initial approach by Mandalay Media on October 29th in which it sought to replace Party Gaming’s Peerless Media as preferred bidder. Mandalay offered $35.5 million in cash and stock - approximately three times the $12 million plus 5 percent of profits going forward offer from Peerless Media Ltd.

WPT Enterprises. Inc. opted not to accede to a request by Mandalay that it postpone its shareholders meeting scheduled for October 30. The directors also decided that the offer was not a “superior proposal” as defined in its agreement to sell with Peerless. On October 30, WPTE received a modified written offer from Mandalay Media which it considered on October 31, 2009 and concluded that it was not a “Superior Proposal” either.

The shareholders’ vote on October 30th was therefore accepted, awarding the sale to Peerless.

According to WPTE’s Form 8-K filing, shareholders voted to approve the Peerless Media bid, claiming: “In the final vote count by the independent inspectors of election, 13 996 639 WPTE common shares (approximately 67.93 percent of the outstanding common shares) were represented at the Meeting, in person or by proxy, and the casino gambling Agreement was approved by 85.28 percent of the shares voted and 57.93 percent of the shares outstanding”.

Mandalay Media Inc, the Los Angeles online gambling media group who’s last minute bid to snatch World Poker Tour Enterprises from acquisition by Party Gaming’s Peerless Media subsidiary failed this week, appears to have accepted casino games defeat.

Shareholders earlier this week voted to accept the Peerless offer despite Mandalay claims that it’s bid was superior.

“We are very disappointed by this decision” said Ray Schaaf, President of Mandalay Media in a statement. “However, we remain interested in pursuing similar opportunities to expand our internet gambling business and enhance shareholder value in the future.”

Swedish online gambling software provider Net Entertainment reports that it has signed up Microgame - arguably the largest remote gaming provider in Italy - for an online casino on the popular CasinoModule platform.

The agreement gives NetEnt a useful foothold in the Italian market for the first time.

Microgame was founded in 1996 and boasts more than 1.3 million casino game accounts, with a market share of 25 percent in online poker and 28 percent in online sportsbetting.

In the reporting year 2008 the group generated gross gaming revenues of over Euro 85 million. The company operates under the licensing and authority of Italy’s Autonomous Administration of State Monopolies (AAMS).

“Gambling is huge in Italy and is expected to generate a gross gaming yield exceeding Euro 17 billion in 2009, making it the country’s third largest industry,” said Net Entertainment chief executive Johan Öhman. “In light of this, it is obviously extra encouraging that one of the dominant incumbents selects Net Entertainment as their strategic casino partner.”

Those sports-minded marketers at online poker giant PokerStars have scored another promotional try by inking an agreement with Britain’s Rugby Football Union.

The deal follows a slew of sports sponsorships by the Internet poker firm that have seen it positively associated with Mexican soccer teams for online casino games, superior whiskey and luxury sports cars. In addition, the company brand has repeatedly been evident in sports like professional basketball, hockey and auto racing.

The two year deal will see Pokerstars recognised as the RFU’s official online gaming and casino partner for the England team, with advertising privileges at major matches and world famous rugby stadia, access to tickets and autographed merchandise which could make valuable tournament prizes.

Julia Tasker, a Pokerstars marketing director, said: “As a brand we are excited to be involved with the RFU. This two-year sponsorship deal will continue to associate the PokerStars brand to premier sporting events and talent, whilst also enabling rugby fans to interact with the world’s premier online poker room in live environments.”

The RFU deal will see Pokerstars enter the company of leading rugby sponsors like O2, Nike, Green Flag, Land Rover, EDF Energy and Emirates Airlines.