Tuesday, October 11, 2005

WPT Enterprises: Looking for the Turn

WPT Enterprises, the parent company to the World Poker Tour, stock price has taken a turn for the worse. On July 8th, they hit their 52 week high of $29.50 after an unsolicited bid to purchase the company apparently from Doyle Brunson drove the stock price higher. Since then, their stock has tilted harder than Shane getting turned down by a hooker in Las Vegas because he's just Shane, closing today at $7.17.

Has the plethora of poker tournaments on every channel made that much of a dent on WPT? One has to wonder.

1 comment:

Chuck Williams said...

I've read that WPT is now allowing players to wear sponsor logos.

Pretty soon, the players will look like a NASCAR driver, which means more money, which means happier players looking to do more promotional work, which in my estimation will greatly improve the bottom line.

I'd say... buy.