World Poker Tour in Trouble
Posted on November 12, 2008
Filed Under General
If you're like me, one of the first big things to come out of the poker boom that really got me hooked on poker 24/7 was the World Poker Tour (WPT) TV show. Whether it was the charm of commentators Mike Sexton and Vince Van Patton or the shows ability to turn no-name amateurs into instant celebrities, I still to this day make sure that every episode of the WPT makes it way to my DVR.
Unfortunately, the WPTE (World Poker Tour Enterprises), the parent company of the WPT, has not been having a great economic year.
Third-quarter revenue for the company is down 39% to $2.7 million, almost half that of last years $4.4 million. The company sites a decrease in domestic television license fees and lower domestic sponsorship fees as the reason.
The first casualty of the WPTE financial hardships will be the WTP-branded online gaming website, which is in the process of being shut down for good. To try and recover from their decline, WPTE President and CEO Steve Lipscomb has announced plans to expand their reach into the Chinese market, as well as produce a new poker TV show for the Fox Sports Network, which will include 13 one-hour episodes.
No word on how/if this is going to affect their main WPT TV show, so die hard fans like myself should keep their fingers crossed that one of the biggest shows that put TV poker on the map will continue to live to fight another day.
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