WPT Enterprises for Sale?

WPT Enterprises, Inc., creator of the popular World Poker Tour television show, said Tuesday that it has hired a financial advisor, Thomas Weisel Partners, to help the company look into growth options. These options may include a sale of the firm or a possible merger.

The company also operates an online poker room and wants to boost its standing in the cyber-poker world.

Said WPT Enterprises CEO Steve Lipscomb, "We need to seek opportunities to increase our scale and reach."

It is no surprise that WPT Enterprises would want to help itself out in online poker. Christiansen Capital Advisors estimates that 2004’s $1 billion industry could grow to $6.7 billion by the year 2010.

The firm’s stock had a wild ride Tuesday, up over 8 percent at one point before closing down 4 percent.

February 7, 2006