Results Are In - World Poker Tour 1st Quarter 2007 A Success
10 May 2007
World Poker Tour, WPT Enterprises, Inc, reports a good first quarter for 2007. In a press release they reported in part “WPT today announced financial results for the first quarter ended April 1, 2007. Highlights for the quarter include the delivery of five episodes of Season V of the World Poker Tour® (WPT) television series and the signing of a Professional Poker Tour® (PPT) Season I agreement in Finland, which represents the first executed agreement under the PartyGaming sponsorship agreement. Subsequent to the quarter end, the Company signed a new broadcast-rights agreement for WPT Season VI with GSN, The Network for Games, for the broadcast of twenty-three individual episodes. Accordingly, WPT will begin taping Season VI in May 2007, which is expected to debut on GSN in early 2008. Furthermore, the Company announced a three-year agreement with a wholly-owned subsidiary of CryptoLogic in connection with the re-launch of WPT’s new online poker room and online casino. The re-launched site will now utilize CryptoLogic’s proven online gaming and poker room software platform to deliver a unique WPT look and feel only available at WorldPokerTour.com. The site will only be available for real-money play outside the United States in jurisdictions where online gaming is permitted. The re-launch of the online poker room is scheduled to occur in June 2007.
“We are excited about our prospects in 2007 and are confident in our ability to continue to successfully build the World Poker Tour brand and execute our strategic plan,” said Steve Lipscomb, President and CEO of WPT Enterprises. “In the past few weeks we have made several significant announcements which should further our success. First, is our deal with GSN to broadcast Season VI of the World Poker Tour television series, and second is our decision to partner with CryptoLogic for online gaming. The CryptoLogic deal is a positive step forward for our online gaming division as it ensures that starting with day one of our online gaming re-launch there will be ample liquidity available for our customers on a stable and proven platform. We look forward to working with CryptoLogic and plan to launch the site in June of this year.”