Doyle Brunson

Wynn Resort's posh nightclub Blush didn't seem to be enforcing its "casual chic" dress code earlier this month when poker players gathered to honor one of their own: Doyle Brunson. Wearing a big cowboy hat (normally a club no-no) and bouncing the occasional admiring young woman on his knee, the 75-year-old Brunson was having a blast telling stories of games past.

The Securities and Exchange Commission is seeking to force testimony from the man who it says ran the website of Doyle Brunson, a member of the Poker Hall of Fame now under investigation by the agency. The SEC has twice subpoenaed Wallace Nakano over www.doylesroom.com, where Brunson announced his unsolicited $700-million offer to buy Los Angeles-based WPT Enterprises Inc., creator of the World Poker Tour television show. Nakano claims that the subpoenas weren't properly served.

Gaming entertainment company WPT Enterprises Inc.'s shares slid after a $700-million bid from U.S. poker champion Doyle Brunson crumpled, prompting some queries about the offer's veracity. A spokeswoman said WPT, which owns the "World Poker Tour" television series, spoke to Brunson, who indicated he would provide no further information about the vague cash offer that was received Thursday.

U.S. poker champion Doyle Brunson confirmed Wednesday that his $700-million offer to buy gaming entertainment group WPT Enterprises Inc. had expired, pushing the stock down an additional 8%. Los Angeles-based WPT, which owns the popular World Poker Tour television show, said a group of investors led by Brunson submitted the offer last Thursday and asked for a response by Tuesday, with a one-week extension provision.

U.S. securities regulators said Friday that they were formally investigating U.S. poker champion Doyle Brunson's unsolicited $700-million offer in July to buy WPT Enterprises Inc., a Los Angeles-based gaming entertainment firm. News of the bid, which was nearly double the company's market value at the time, sent WPT's stock soaring more than 50% in one day to an intraday high of $29.50.