WPTE Announces Loss In 2007
March 10, 2022
According to the recently released World Poker Tour Enterprises (WPTE) 2007 earnings report, the company posted a loss of $1.8 million in the last quarter of 2007 and $9.63 million in 2007 altogether. According to Steve Lipscomb, the Company's Chief Executive Officer, the 2007 losses reflect a "transitional year for WPT Enterprises."

In 2007, WPTE went through significant changes - WPTE programming was moved to the Game Show Network, their online site was relaunched, and a major deal was struck with China Leisure and Sports, which should put WPTE in good shape to capitalize on the growing Asian gambling market. All three of these changes cut significantly into the company's bottom line in 2007 and will most likely continue to do so in 2008. The company expects to see the fruits of these changes in 2009.

Despite the 2007 numbers, Lipscomb seems optimistic that these types of changes were not only necessary, but will in the long run, create positive growth and reposition WPT Enterprises as a "multimedia entertainment and gaming company."

For story in it's entirety, please visit the Independent Online Poker Authority,
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