Woo Ping Yuen is a famous game host but he got broke. The show is about people fighting for their lives and the winner ends up with a lot of cash.
Deadpool was hired by Kilgore because he believed Yuen to be somehow responsible for the death of Kilgore's son, Julian.
Yuen relaxing.
Yuen and Deadpool met in the following comics:
Deadpool: Games of Death