Learn, Chat & Pray for the Pros: Doom of the WPT

[jluker7]

i heart this funny post <3

[suzzer99]

With all the new legislation and craziness in the poker world we have all been focusing on the poker sites. Lets take a look at poker on television and see where that is going.

Lets take a look at the World Poker Tour since they were a major factor in the poker boom. Here is a quick rundown of how they are doing:
1. Their stock price has plunged from a high of $24.35 on 7/8/05 to $3.82 as of yesterdays close;
2. their ratings have plunged over the past 2 years;
3. their online poker room is a total flop;
4. Mike Sexton is going to retire;
5. The PPT was a big fat flop;
6. they lose money almost every quarter;
7. they are being sued by many of the top pros including Lederer, Raymer, Duke, Hachem and a few others.

So what do you really think their future is? With the new poker environment far less people will be competing in WPT events and WPT itself has stated they are no longer taking online qualifiers. Also as less people play poker due to the sites shutting out Americans even fewer people will care much about watching the WPT; and as I said the number of viewers has already been going steadily down over the past 2 years.

In addition, they will be getting fewer sponsors as few reputable companies will want their brand associated with something considered by the government to be illegal. And as the remaining poker sites pull out of the US more sponsorship money goes up in smoke.

All of this on top of the 7 factors I pointed out at the beginning. I give WPT about 2 more seasons--long shot could be 3-- but I doubt it. However you look at it, and especially in the current poker environment, they are doomed.


Ahhhhhh.

[Skallagrim]

Yawn.... Poker and gambling shows are quite popular at the moment, and the WPT is still the highest rated ... the tournies pay for themselves, and the production cost is less than the revenue - so even if overextension into other things kills the parent company, the WPT can be sold independantly and will continue.

[olivert]

WPTE is betting its entire future on being able to obtain monopoly online gaming licenses in markets in Asia, with "Greater China" being THE PRIZE that WPTE absolutely wants and has to have in order for the company to grow.

Look for the first WPT event in "China", at the MGM Grand Macau, to take place sometime in 2008 and/or 2009.

[suzzer99]

Does anyone in China even play poker? I keep hearing "China" as a cure for poker, and it reminds of the dotcom days when eyeballs where somehow going to = profit, only no one really knew how. Aren't 99.5% of all Chinese still farm peasants or subsistence laborers - with any spare income they might have going towards elementary school books and cigarettes?

[Richas]

[ QUOTE ]
Does anyone in China even play poker? I keep hearing "China" as a cure for poker, and it reminds of the dotcom days when eyeballs where somehow going to = profit, only no one really knew how. Aren't 99.5% of all Chinese still farm peasants or subsistence laborers - with any spare income they might have going towards elementary school books and cigarettes?

[/ QUOTE ]

http://www.cnbc.com/id/16583805
German luxury carmaker BMW said Friday it sold 51.3% more cars in mainland China in 2006 compared with a year earlier.
Total sales came to 36,357 cars, up from 24,025 in 2005, it said in a statement. Sales of BMW brands rose 49.6% to 35,300 units, with Minis up 145.8% to 1,057 units.

http://www.bmwcca.org/node/6479

For the second year, BMW Group topped 300,000 sales in the U.S., finishing 2006 with both a record year for sales and a record-setting month. December sales of 33,417, the group’s first-ever month above 30,000, pushed BMW Group (actually, BMW plus Mini but not Rolls-Royce, whose sales trickle in more slowly) to 313,603 for 2006,

China may be only 10% of the US for BMW sales but they aren't all peasants and with growth of 51% you can see why many are keen.

PS many Chinese are entusiastic gamblers.

[Zele]

FWIW, in 2006 Macau earned more gambling revenue than Vegas, with only half the visitors.