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world-poker-tour.jpgThe third quarter financial results for 2007 were announced by the executives of the World Poker Tour on Monday. They were marked by downswings in revenues from both their television broadcasts and their online ventures.

During a conference call on Monday afternoon, World Poker Tour Enterprises president and CEO Steve Lipscomb seemed very optimistic regarding the future of the organization.

Lipscomb has said that the third quarter still represented continued progress for the World Poker Tour Enterprise. He claims that they reached exciting new milestones, which were the addition to an online casino offered on their online gaming site, WorldPokerTour.com, and they also kicked off the inaugural season of the WPT China National Traktor Poker Tour. They also just made their management team stronger a few weeks ago by hiring Andy Goetsch and Rohin Malhorta. Lipscomb also said that as they look into the rest of 2007 and into 2008, they think they are in good position and are confident in their ability to successfully carry out their strategic plan.

In the third quarter, the total revenue was $4.4 million in 2007, which was down from $5.9 million in 2006.

The downturn in revenue is directly linked to a dip in the number of productions of World Poker Tour events delivered for broadcasts this year versus last year. Another reason was the removal of Professional Poker Tour episodes from the broadcast schedule and the sale of stocks in PokerTrek, which is the automated poker table company that WPTE was invested in during 2006.


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