World Poker Tour Sees Decrease in Third Quarter Numbers

Television broadcasts were down for the World Poker Tour as well as their online gaming business, and those two areas seem to be the reason that there was a decrease in revenues in the third quarter.

The revenue numbers for the third quarter were $4.4 million, which were down from the $5.9 million from 2006, but those numbers make perfect sense when considering that the number of broadcasts were down, as well as the company's sale of stocks in PokerTech, an automated poker table company that WPTE had investments in back in 2006.

Although the numbers were down, spirits were still high within the company as World Poker Tour Enterprises President and CEO Steve Lipscomb had this to say on a conference call, "The third quarter represented continued progress for WPT Enterprises Inc. We reached exciting new milestones including the addition of an online casino offering our online gaming site...".

The company was hit hard by not being able to advertise in the U.S. as it is an American company, but there is wide spread speculation that the company will have a strong fourth quarter.



2007-11-06