Mandalay Accepts Defeat

President says his directors are "very disappointed'.

Mandalay Media Inc, the Los Angeles 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 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 business and enhance shareholder value in the future."