WPT reports more losses
Related Articles
World Poker Tour Enterprises, Inc. released its 2008 first quarter financial results, which showed a net loss of $2.8 million.
The good news: Revenues were up 10 percent from the same time period last year.
According to pokerpages.com:
Business highlights for the quarter included the delivery of seven episodes of Season VI of the World Poker Tour (WPT) television series; the premiere of Season VI on the GSN Network; continued progress in the development of the WPT China National Traktor Poker Tour; the launch of ClubWPT.com; and the amendment of their agreement with Cryptologic Inc. to provide for the launch of a full suite of online casino games and the development of Spanish and German language online gaming sites, which are expected to go live by June 2008.
“Our first quarter results reflect the delivery of seven Season VI episodes, increased international television and sponsorship revenues, and moderate progress in our online gaming and ClubWPT.com businesses,” said Steve Lipscomb, President and CEO of WPT Enterprises.
WPT’s online gaming revenues decreased over the same period in 2007, as did domestic television licensing revenue, accounting for some of the losses experienced.
