WPT Enterprises, Inc. (WPTE), the owners and developers of the televised World Poker Tour (WPT) recently announced results for this year's fiscal first quarter, which ended April 3rd. Although revenues this quarter were largely equivalent to first quarter revenues in the 2004 fiscal year, revenues for Q1 2005 were more greatly comprised of earnings resulting from various licensing agreements.

During Q1 2005, WPTE embarked on a number of additional ventures that are likely to impact the company's financial performance. First, WPTE decided to continue broadcasting the World Poker Tour for a fourth season and to expand its broadcast to France and Italy. It also put the final touches on an agreement with WagerWorks to launch a WPT real-money online poker site. During the quarter, WPTE also announced that Anheuser-Busch Michelob AmberBock signed on as a sponsor for the WPT's third season. All in all, this has been an eventful and prosperous quarter for WPTE.

Steve Lipscomb, President and CEO of WPTE, commented on the company's first quarter performance, "Our first quarter 2005 results demonstrate the company's continued ability to execute on our strategic plan and initiatives that have been targeted to generate growth."

Source:  Poker777 Staff

Saturday, 14 May 2005