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I bought stock in WPT last month and it went up three points. The symbol of WPTE.
Anyone else own any?
Citytom
www.pokerchipsvideo.com
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I also have stock in WPT, I'm sure you saw this announcement, they're opening an online poker site? :
World Poker Tour producer to unveil new poker site
June 28, 2005 11:39:31 (ET)
SAN FRANCISCO (MarketWatch) - It's a big week for online poker.
In the same week PartyGaming PLC made its successful IPO on the London Stock Exchange, WPT Enterprises is expected to unveil Wednesday a new online-poker site.
WPT Enterprises (WPTE, Trade), based in West Hollywood, Calif., told MarketWatch the site will be targeted at people outside the U.S.
While the company will allow U.S. players to access the online-poker site, it won't let the players inside the U.S. place real wagers. The 1961 Wire Act prohibits betting over the telephone in the U.S. The Justice Department has issued opinions saying the law applies to gambling over the Internet.
A spokeswoman for WPT Enterprises said the company will unveil the name of its poker site on Wednesday.
Shares of WPT rose nearly 3% to $20.87 in Tuesday trading. But if you think you should get in now, keep in mind that the stock is up from below $14 at the start of the year.
For WPT, the online-poker site will be its first foray into online poker. The company is known to poker players for producing World Poker Tour, a television series of high-stakes contests televised on the Travel Channel.
Its online presence, however, will allow the company to participate in the online-poker craze. Online poker's expansion far outpaces the 22% expected growth in online gambling overall and the 4.3% growth in live-action gambling, according to research by Dresdner Kleinwort Wasserstein.
And online casinos, free from the brick-and-mortar worries of facilities and staffing, have enviable profits.
Back in March, ParadisePoker.com was hosting 1 million hands a day, which is equivalent to about 900 casinos running the live-action equivalent of that volume of business.
ParadisePoker.com is operated by Sportingbet , which is based in Britain. In addition to trading on the London Stock Exchange, Sportingbet is listed on the U.S. pink sheets.
There's also Neteller PLC (NTLRF, Trade), the online poker equivalent of Paypal. The British company went public last year in London, with U.S. shares listed on the pink sheets.
Meanwhile, PartyGaming, which is based in Gibraltar, will begin full trading on Thursday. It is not traded on the U.S. exchanges.