World Poker Tour Posts Q1 Loss

World Poker Tour Enterprises, Inc., reported a loss last week for the first quarter of 2007.  The net loss was $2.3 million, compared to income of $3.6 million for the same quarter one year ago.  Revenue was down $2 million to $4.5 million. 

The company says that the primary reason for the loss was that it did not deliver as many television episodes as in 2006.  The first five episodes of Season V were delivered in the first quarter of 2007, while in 2006, six episodes of Season IV were delivered, plus one episode of the Professional Poker Tour. 

Also of note, online gaming revenues fell by $400,000 because the WPT’s internet poker room has essentially become a ghost town.  The company will move its poker room to the established Cryptologic network in June. 

WPTE forecasts revenues in the $7.0 to $7.5 million range for the second quarter.  It expects to deliver nine episodes of WPT Season V during the period.