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Not Eye to Eye

Everest Poker has filed a massive lawsuit against the owners of the widely known brand, the World Series of Poker. The owners of both of these brands/companies Ultra Internet Media and Harrah’s Entertainment, respectively, are now in a legal battle that could see Harrah’s paying out a whopping $22.5 million to Ultra for a breach of contract in Everest Poker’s sponsorship of the 2008 and 2009 WSOP events. The entire land and online casino poker gambling industry eagerly anticipates the WSOP each summer and sponsorship of this major international event is like the bread and butter for a poker site. Everest Poker is not yet one of the giants in the industry, but the company has a strong holding in the market and secured a sponsorship deal with the WSOP for several years.

The issue presented in the lawsuit though is that Everest Poker feels that Harrah’s broke the sponsorship agreement and contract by not broadcasting the Everest Poker logo on each and every table at the WSOP. In fact, considering how fierce competition is between the online casino poker sites it’s pretty incredible that Harrah’s chose to also offer sponsorship to Full Tilt Poker, a huge competitor Everest. According to Ultra, ESPN aired parts of the WSOP in France and the tables contained a prominent display of the Full Tilt logo rather than Everest Poker’s.

Everest is now requesting some of the sponsorship funds back from Harrah’s since the company did not hold up its end of the deal and instead played the two online casinos off of each other. In addition to the monetary sum, Everest is seeking to legally back out of its contract and no longer sponsor this year’s 2010 WSOP events that start in just two short months. The case has just been announced and there is little additional news about how this is unfolding.