WPT Releases 2008 Results

World Poker Tour Enterprises Incorporated has released its financial results for 2008.poker

The California firm reported that revenues for the fourth quarter of last year fell to USD2.6 million compared to USD5.1 million in 2007.

From international television licenses decreased USD468,000 due to fewer territories accepting license arrangements while revenues from product licensing fell over USD430,000 as a result of lower royalties from two licensees.

WPTE revealed that the cost of revenues decreased to USD798,000 in the fourth quarter of 2008 compared to USD1.63 million for the same period in 2007.

The gross profit margins for the World Poker Tour television series were 65 percent in both periods while WPTE revealed that it had no debt and total cash and investments in securities of USD17.0 million at the end of of the year.

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