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Why Is This Oil and Gas Company Playing Poker?

The blank checks are getting larger on Wall Street and have even fewer strings attached. In mid-December, Black Ridge Acquisition Corp., a public investment vehicle that raised $138 million in an IPO a little more than a year ago to do deals in the energy sector, announced that it was instead buying a company that organizes poker tournaments. As part of the deal, Black Ridge will also get a 1,000-person arena in Las Vegas for playing video games.


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