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Title: Is the WPT for sale? Post by: TightEnd on July 21, 2009, 06:17:49 PM Wall Street Journal columnist Brett Arends, writing his debut column for WSJ Website Marketwatch, reported that World Poker Tour chief Steve Lipscomb told him that the tour had conducted "discussions and exchanged documents with some companies that have expressed an interest."
But he tour's chief financial officer Tom Flahie said that he could not comment, apart from saying that confidential data had been provided "to third parties," Arends wrote. Explaining the reasoning behind the possible sale, Arends wrote that years of losses have left the company looking for a major broadcaster or online poker company to purchase it. WPT stock hit a high of $26 in 2005, which had poker legend Doyle Brunson reportedly considering a $700 million bid. But the stock has dropped to a current level of $1.25 and parent company WPE Enterprises is now worth only $25 million. Arends wrote that critics blame the creation of too many imitations of the tour on TV as hurting the WPT. Critics also say that the WPT never found a way to convert its brand name into a reliable revenue stream, he wrote. He also lists company mistakes such as a failed venture in China and letting costs slip out of control, with overhead trebling to $22 million between 2004 and 2008 while revenues fell. Title: Re: Is the WPT for sale? Post by: Blatch on July 21, 2009, 06:35:31 PM Another business venture for Flushy?
Title: Re: Is the WPT for sale? Post by: George2Loose on July 21, 2009, 06:37:02 PM Title: Re: Is the WPT for sale? Post by: Sack it off on July 23, 2009, 03:23:27 AM Didn't know doyle had that much money
Title: Re: Is the WPT for sale? Post by: AndrewT on July 23, 2009, 09:17:20 AM Didn't know doyle had that much money He didn't - it was all hot air. Title: Re: Is the WPT for sale? Post by: byronkincaid on August 04, 2009, 09:11:34 PM they are saying on 2+2 that there is some smoke and mirrors going on but it looks like iPoker have bought it
Title: Re: Is the WPT for sale? Post by: gatso on August 04, 2009, 11:05:53 PM they are saying on 2+2 that there is some smoke and mirrors going on but it looks like iPoker have bought it nah. sold to gamynia who are going to use hardway investments to do the marketing. hardway also work for ipoker (well, playtech) Title: Re: Is the WPT for sale? Post by: Sack it off on August 05, 2009, 01:22:39 AM Imagine right.. If iPoker used Full Tilts R n D department, just for one day.. it would be sooo coooool
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