Correction: Title Should Read, "World Poker Tour (WPT) Reports Fourth Quarter Results."
WPT Enterprises recently announced results for fourth quarter 2004. The quarter, ended January 2, 2005, saw a number of major maneuvers and trends that influenced results, including robust sales for WPT merchandise during the holiday season. Additionally, agreements were signed to distribute the World Poker Tour's televised segments to the Caribbean and Latin America as well as an agreement with online gaming supplier WagerWorks to build a real-money WPT-themed casino site. The fourth quarter also constituted WPTE's first whole quarter as a public company.
This high level of activity translated in significant increases in revenue in both the fourth quarter and in the fiscal year over all. Revenues for 2004's fourth quarter amounted to $5.7 million, compared to just $379,000 in fourth quarter 2003. Total revenue for the entire fiscal year equaled $17.6 million, up for $4.3 million in the previous twelve-month period. The company also reported fourth quarter net losses of $459,000. Lastly, WPT Enterprises finished the fiscal year free of debts.
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