Terms & Conditions

Internet Magazine

Non–US new players
Get five 2+2 books

Order Books
Book Translations
Forum Login
Expand All   Collapse All

 Two Plus Two 
2+2 Magazine Forum
Special Sklansky Forum
2+2 Pokercast
About the Forums

 General Poker Discussion 
Beginners Questions
Books and Publications
Televised Poker
News, Views, and Gossip
Brick and Mortar
Home Poker
Beats, Brags, and Variance
Poker Theory
Poker Legislation


 German Forums 
Poker Allgemein
Strategie: Holdem NL cash
Strategie: Sonstige
Small Talk
German Poker News

 French Forums 
Forum francophone
BBV (French)

 Limit Texas Hold'em 
High Stakes Limit
Medium Stakes Limit
Small Stakes Limit
Micro Stakes Limit
Mid-High Short-handed
Small Stakes Shorthanded

 PL/NL Texas Hold'em 
High Stakes
Medium Stakes
Small Stakes
Micro Stakes
Small-High Full Ring
Micro Full Ring

 Tournament Poker 
Small Stakes MTT
High Stakes MTT
MTT Community
STT Strategy
Tournament Circuit

 Other Poker 
Omaha High
Heads Up Poker
Other Poker Games

 General Gambling 
Sports Betting
Other Gambling Games
Entertainment Betting

 Internet Gambling 
Internet Gambling
Internet Bonuses

 2+2 Communities 
Other Other Topics
The Lounge: Discussion+Review
El Diablo's General Discussion

 Other Topics 
Sporting Events
Business, Finance, and Investing
Science, Math, and Philosophy
Health and Fitness
Student Life
Puzzles and Other Games
Video Games
Laughs or Links!
Computer Technical Help
Sponsored Support Forums
Other Links
Order Books
Books by Others
Favorite Links
Advertising Information
Posting Hints
Privacy Notice
Forum Archives

The 2+2 Forums

Before using this Forum, please refer to the Terms and Conditions (Last modified: 2/26/2006)

Be sure to read the   Two Plus Two Internet Magazine

This is an archive. The main forums are here

These forums are read only.

UBB.threads™ Groupee, Inc.

Other Topics >> The Stock Market

Pages: 1
old hand

Reged: 06/03/05
Posts: 704
WPTE - Motley Fool comments on Lipscomb letter to poker players
      #4317177 - 12/31/05 06:00 AM

On WPTE CEO Steven Lipscomb's letter
WPT Enterprises (Nasdaq: WPTE) CEO Steven Lipscomb did something interesting last week: In a noble effort to reach out to poker players, he wrote an open letter to the poker community.

Lipscomb started by addressing some concerns over standard filming releases players must sign before they play in a World Poker Tour tournament. He also emphasized the importance of the player as a business partner to the World Poker Tour, and that the player should "keep an open mind and look for the reality" rather than "just accept misinformation."

He also did something somewhat counterintuitive: In an attempt to refute the notion that the WPT is an "evil empire" that is making "massive profits" and refuses to share that success with its players, he downplayed the success of the business. Lipscomb pointed out that WPTE has yet to turn a profit in four years of business, and that Lyle Berman -- CEO of WPTE parent Lakes Entertainment -- has yet to sell a share or profit off his investment in the WPT.

Basically, the gist of Lipscomb's message is that the company is investing in the partnership -- partly by funding its Professional Poker Tour with $2.5 million out of its own pocket, with no TV deal in place. The company has yet to receive a dime for the PPT. And thus far, every player who has ever made a final table of a WPT event has made more money off of the WPT than WPTE has.

Clearly, this was not a message meant to boost investor confidence.

That said, though some of Lipscombe's points came across a bit awkwardly, The Motley Fool has long advocated shareholder communication. Since poker players -- the lifeblood of the World Poker Tour -- clearly qualify as stakeholders, I find Lipscomb's effort here commendable.

There was one other item of note: Lipscomb said that Lakes -- which has said it may need to sell part of its 62% stake in WPTE in order to fund its own business -- has yet to sell a share. That potential share sale is part of the reason the stock has been beaten down further and further; it now sits at a new low, under $6 per share. And when a stock gets beaten down for reasons external to the business -- such as potential share sales due to the financial needs of a parent company -- it starts looking a bit more like an investment opportunity. If I were interested in the stock (and if there weren't other more attractive and lower-risk investment opportunities available), I would venture that now might even be the time to examine WPT as a possible buy.

Post Extras: Print Post   Remind Me!   Notify Moderator  
Pages: 1

Extra information
0 registered and 12 anonymous users are browsing this forum.

Moderator:  Mat Sklansky 

Print Topic

Forum Permissions
      You cannot start new topics
      You cannot reply to topics
      HTML is disabled
      UBBCode is enabled

Topic views: 220

Rate this topic

Jump to

Contact Us 2+2 Publishing

Powered by UBB.threads™ 6.5.5

Message Boards and Forums Directory Message Boards and Forums Directory