World Poker Tour Enterprises (WPT) has reported a 30% drop in revenues for the second quarter period ending July 1 compared with the same period last year. Total revenues for the quarter were $7.7 million (£3.8 million), compared with $11 million in 2006.
WPT said this was mainly due to a fewer number of domestic TV episodes being produced during the period. Television licensing revenues dropped to $4.3 million compared with $7.3 million in 2006 as a result. Net loss for the quarter came to $3.3 million and included a $2.3 Milllion write-off of WPT’s stand-alone online gaming platform, as the company re-launched its poker offering on the CyrptoLogic network.
However, online gaming revenues for the period dropped to $0.3 million, compared with $0.8 million in 2006, due to the switch from WagerWorks to CryptoLogic during the period.
WPT Enterprises signed a five-year agreement with the China Leisure Sports Administrative Center, to become the exclusive marketing and sponsorship partner for China’s popular card game, Traktor Poker, known as Tuo La Ji.
The Togel Hongkong company expects revenue for the third quarter of 2007 to be in the range of $4.0 – $4.5 million, aided by an increase in sales and marketing efforts for online gaming beginning in September.
PokerStars Tops The Battle For Online Poker Traffic
At the top of the online poker battle for most players, PokerStars sits comfortably. So comfortable is PokerStars that they have triple the traffic now of their nearest rival, Full Tilt Poker.
Recent monitoring shows that PokerStars has had nearly three times the number of cash players as Full Tilt Poker and almost 20,000 at its peak on Tuesday while Full Tilt had under 10,000. PartyPoker, which no longer accepts US players, has also been beating out Full Tilt.
One of the biggest shocks is that Bodog.com has not be able to capitalize on the departure of other top online poker rooms from the US market over the past year.
The site continues to flirt with the bottom of the top 10, hardly mirroring the unprecedented growth of the Bodog brand when it was first launched in 2001.
Absolute Poker has recovered nicely from its disastrous “October Surprise”. A consultant for the firm was found to be cheating in some online poker tournaments over a one month period.
The reaction, though slow at first, was to pay out all those who could have remotely have been affected by the “cheater”. All said customers were refunded.
Absolute Poker, also a Gambling911.com endorsed online poker room has been edging out Bodog. Its sister site, UltimateBet, frequently comes in around the number 7 online poker room. Both Absolute and UltimateBet, however, rank 3rd and 4th in the US market, respectively.
iPoker Network, OnGame and Everest have ranked among the upper top 10 in recent months. Betfair Poker, another Gambling911.com endorsed online poker room, continues to push its way up from the lower top 15 tier. That major betting firm has held a podcast to announce its new Poker Director, thus signaling Betfair’s commitment to taking on the big boys over the coming months.