[benfranklin]

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No one can buy the WPT and make it fail, its up there as an indestructable entity in todays market.

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WARNING: unsubstantiated rumor ahead!!

I have read speculation (can't remember where) that the WPT not a particularly profitable operation, and may even be losing money.

When you think about it, that is quite possible. They have essentially one product, they film tournaments put on by casinos. (They also have WPT DVDs, which are of questionable profitability.) The casinos make the money from the tournaments, the rake and the side action. I assume the casino pays the WPT a licensing fee to put on a WPT event, but have no idea what it is.

They have one customer, the Travel Channel. The Travel Channel takes in the advertising revenue, and pays the WPT something for the shows.

This does not strike me as a business model that is going to become the next Disney. I don't see much room to expand and diversify. It strikes me as a business model that could make a couple of people fairly wealthy. It's all in the negotiations with the casinos and the network.