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Principal Owners Try to Sell Off WPT Stock
November 26, 2005
Lakes
Entertainment, who is the primary
owner of the World Poker Tour, will
consider selling off its entire
share of the WPTE (World Poker Tour
Enterprises). Apparently, the
company needs to raise a total of
$20 million in the next 4 months.
This
comes on the heels of negative
earnings and ratings reports for
most poker television shows -
including the WSOP, WPT, and GSN's
Poker Royale. We may begin to see
the downsizing of poker on
television. While I'm certain that
poker is a mainstay in future
programming, I don't think that
we'll continue to see the over
saturation that televised poker has
experienced over the last 18 months.
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