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Is the WPT for sale?
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Topic: Is the WPT for sale? (Read 1449 times)
TightEnd
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Is the WPT for sale?
«
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.
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My eyes are open wide
By the way,I made it through the day
I watch the world outside
By the way, I'm leaving out today
Blatch
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Re: Is the WPT for sale?
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Reply #1 on:
July 21, 2009, 06:35:31 PM »
Another business venture for Flushy?
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George2Loose
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Re: Is the WPT for sale?
«
Reply #2 on:
July 21, 2009, 06:37:02 PM »
Quote from: Blatch on July 21, 2009, 06:35:31 PM
Another business venture for
Flushy
Blatch?
FYP
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Ole Ole Ole Ole!
Sack it off
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Re: Is the WPT for sale?
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Reply #3 on:
July 23, 2009, 03:23:27 AM »
Didn't know doyle had that much money
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AndrewT
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Re: Is the WPT for sale?
«
Reply #4 on:
July 23, 2009, 09:17:20 AM »
Quote from: Sack it off on July 23, 2009, 03:23:27 AM
Didn't know doyle had that much money
He didn't - it was all hot air.
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byronkincaid
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Re: Is the WPT for sale?
«
Reply #5 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
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gatso
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Let's go round again
Re: Is the WPT for sale?
«
Reply #6 on:
August 04, 2009, 11:05:53 PM »
Quote from: 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
nah. sold to gamynia who are going to use hardway investments to do the marketing. hardway also work for ipoker (well, playtech)
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If you get to the yeasty clunge you've gone too far
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Re: Is the WPT for sale?
«
Reply #7 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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