WPT a Good Buy as Revenue Increases

Tuesday, 13 March 2007

In 2005, WPT led Doyle Brunson and a group of investors on, while stock rose to $29.50. Last February it teased an investment bank, but was overcome by shyness in September 2006 and decided to remain independent.

In 2005, WPT led Doyle Brunson and a group of investors on, while stock rose to $29.50. Last February it teased an investment bank, but was overcome by shyness in September 2006 and decided to remain independent. Shares dipped below $4 in October 2006. Recently WPT did manage to partner up with PartyGaming, who agreed to sponsor international broadcasts of WPT and Professional Poker Tour events.
WPT generates the majority of its sales from televised tournaments and shows. It is also hoping to build revenue from the re-launch of its poker site. According to Clint Morrison, an analyst with Minneapolis investment bank Feltl & Co., the third-party run site was beset by technical problems and often crashed. However he has high hopes for WPT’s new online poker portal.
'That's where the real growth and the upside for the stock is. They should be able to leverage a strong brand in what is still a big market.'
Yesterday Los Angeles-based WPT Enterprises (NASDAQ: WPTE) announced that revenue was up 13% in its fourth quarter and 62% for the full fiscal year. CNN money tipped it as a good buy. WPT is a majority owned subsidiary of Minnetonka, Minn.-based Lakes Entertainment (NASDAQ: LACO).



Tags: Poker News, WPT, a, Good, Buy, as, Revenue, Increases