WPT Losing Money

While the World Poker Tour got some good news when the Fox Sports Network bought the WPT’s seventh season, the numbers they have posted for the second quarter of 2008 don’t look very good. WPT revenues have dropped from $7.7 million last year to $5.1 million in 2008. Steve Lipscomb, the WPT president and CEO, is optimistic, however. He has been down a rough road with the WPT before, when the company started operations and did not turn a profit for three seasons. Despite that the company has become very profitable and an institution in the world of poker.