The WPT For Sale?
It looks as if the WPT may be for sale. On Monday, an article was published by the Wall Street Journal entitled, âDeal Someone Inâ in which a potential sale of the WPT was discussed. When asked about a potential sale, Lipscomb stated, "We've had discussions with, and exchanged documents with, some companies that have expressed an interest.â
The article went on to state that the WPT is worth only about $25 Million. At one point the company was selling at $26 a share and worth over a Billion dollars. Now, the company is struggling to try and break even.
The upside for anyone wanting to buy the company is that the brand has a following and a solid foothold in the poker publicâs eye. The downside to buying the company is that it has NEVER turned a profit. Those that could benefit the most from buying the WPT are Full Tilt, PokerStars, or even Bwin. They could streamline operations and tie in the WPT with their brand, and in the process make an even stronger brand. Online satellites could also help to boost both attendance and revenue.
While the WPT is a popular product and one of the reasons for the success in poker, it may be time to let someone else take the reigns. Poker is now big business and if a business model is not working, let someone else have a crack. Otherwise, I donât see the WPT last more than another year or two.