Everest Poker files a lawsuit against the WSOP

WSOP logo

Online Poker room Everest Poker filed a lawsuit in Las Vegas federal court against the World Series of Poker (WSOP).

Everest parent company Ultra Internet Media (UIM) had a deal with Harrah’s, the owner of the WSOP, whereby Everest would be the exclusive on-felt sponsor of the WSOP for three years starting 2008. This deal was worth a whooping $22.5 million.

As per the terms of agreement Everest Poker would have exclusive rights to be the on-felt brand at every table and their logo would feature on the inner track of the final and feature tables. In return, UIM would pay $6.2 million for 2008, $7.9 million for 2009 and $8.4 million for the 2010 tournament.

According to UIM, following Harrah’s breach the contract Everest would not be their sponsors for the 2010 WSOP. UIM further claims that such material breach of the contract may cause loss in profits in the future as well as loss of faith and goodwill; it also jeopardizes UIM’s reputation in the international arena.

According to the lawsuit ESPN French branch, RTL9, displayed the logo of Full Tilt Poker, a competitor of Everest, thus breaching Harrah’s contract with UIM. The lawsuit further claims that RTL continued to display Full Tilt’s logo even after UIM, Harrah’s and ESPN agreed that the violation of the contract should stop.

The biggest worry for Harrah’s is that with a new season of the WSOP ahead, they are now left without a sponsor for the high profile tournament and with only two months left to its opening, finding a sponsor may not be so easy.