World Poker Tour (WPT) Reports 1st Quarter Net Loss of $2.3 Million
WPT Enterprises Inc., owner of World Poker Tour online poker room, just announced financial results for their first quarter ending April 1, 2007, reporting a net loss of $2.3 million for the quarter compared to net income of $3.6 million in the same 2006 period.
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 Game Show Network, 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.
