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.
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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.
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