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Email UpdatesIf you have channel surfed on any Saturday afternoon, you’ve probably seen one version or some variation of "The World Poker Tour." This is owned by WPT Enterprises Inc. (NASDAQ:WPTE), or at least it is a joint venture according to the http://www.worldpokertour.com/company/ website with CEO Steven Lipscomb and Lakes Entertainment Inc. (NASDAQ:LACO).
WPT Enterprises is a majority owned subsidiary of Lakes Entertainment. It has also been hitting the list of 52-week lows for some time now almost daily and April was the last time it saw its stock post gains from the prior month’s close. Lakes is not at 52-week lows, but at $9.80 it is also in the lower-half of the $8.00 to $13.47 52 trading range over the last 52-weeks.
WPTE is organized into three divisions: WPT Studios, WPT Consumer Products, and WPTCorporate Alliances. The company came public in August 2004 and traded over $20.00 for some time throughout 2005. That was at the top of the poker craze. Shares haven’t seen that since and no one expects them to go back any time soon. The company loses money and is expected to lose money in this year and next by the tiny group of analysts that cover it.
