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World Poker Tour Enterprises Still Showing A Loss
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The 4th Quarter results for World Poker Tour Enterprises were released and the company still continues to lose more money gambling on poker than they make, but their "fish" status could soon be revoked as they are making progress.
For 2005 in total, revenues were up nearly 3% from 2004 results, even though the 4th quarter this year was 1% off revenues for the same period in 2004. Their online poker venture, WPTOnline.com, has started to generate revenue ($1 milion to date) but it remains to be seen whether the room can survive and thrive. Not only do they not allow US players to sign up - impossible since WPTE is a listed company that is based in the USA - but it is run by guys with little experience of the online gambling industry in general or online poker in particular.
World Poker Tour Enterprises still depends largely on their hugely successful TV show that broadcasts some of the biggest no-limit hold'em tournaments in the world, using a slick packaging style that promotes poker as a full-contact sport, complete with hysterical commentators and hot girls on the sidelines to ask banal questions.
WPT merchandise is growing as a revenue generator, and the value of the brand cannot be questioned. The company expects to turn a profit for the first time ever some time this year, which would be nice for all concerned.
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