WPT Enterprises Reports Encouraging Third Quarter Results

Friday, 3 November 2006

WPT Enterprises has gone public with its financial results for the third quarter which ended on October 1 with the report suggesting that the company has escaped the recent passing of the Unlawful Internet Gambling Enforcement Act relatively unscathe

WPT Enterprises has gone public with its financial results for the third quarter which ended on October 1 with the report suggesting that the company has escaped the recent passing of the Unlawful Internet Gambling Enforcement Act relatively unscathed.
Steve Lipscomb, founder and CEO of WPT Enterprises said that the decision made by the company concerning the new Act was the right one and that the new Act had only a limited impact on the business. “Since we have had a policy from inception of not accepting wagers from US players,” he said, “we believe the Act will not require a change in our day-to-day business activities.'
Revenues for the third quarter of 2006 were $5.9 million, compared to $2.1 million in the same period in 2005, a 176 per cent increase. The company attributes the increase in revenue to the delivery of nine episodes of Season I of the PPT television series in the third quarter compared to no episodes of the PPT delivered in the same period in 2005.
Additionally, the company reported an increase in online gaming revenues of $0.7 million due to higher levels of player activity versus the prior year period.



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