World Poker Tour Enterprises Reports a 4th Quarter Loss

On March 12, 2007, the World Poker Tour Enterprises (WPTE) announced their 2006 4th quarter earnings and yearly earnings. The WPTE stated a profit loss of about $1.1 million or about $0.5 per diluted share. The loss incurred is a slight improvement of the same period last year, when the WPTE incurred a loss of about $1.4 million or an equivalent of about $0.7 per diluted share.

The slight improvement is traced to the profit that the WPTE has received for the release of the 5 episodes of the Professional Poker Tour during the 4th quarter of 2006 compared to the 2005 season, when the company did not earn any profit from the poker games of the PPT. The company also reported around $7.8 million of yearly net earnings last year, compared to the net loss the WPTE incurred back in 2005.

The main force of the profitability by the WPTE was a total of $10.2 million pre-tax gain on the common stock of the WPTE in the PokerTek. The company has no debt and has managed to keep the company in good financial standing.

The only problem that could be seen on the WPTE report is the company's problem in closing an agreement with the travel channel for the broadcast option on the WPT Season VI. The broadcast period was terminated on March 10, 2007 but has been extended to April 1, 2007.

April 16, 2007
Pauline Davis