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Wpt And Pokerstars Team up For WPT Season VII

Two big brands synonymous with online and land poker have teamed up in an international television sponsorship deal that will ensure global brand awareness.
 
The creator of World Poker Tour, WPT Enterprises and the internet's largest and most successful online poker company, PokerStars, are to partner in a sponsorship agreement for WPT Season VII, covering television broadcasts in Europe and the Americas. 

 Specifically, PokerStars receives title sponsorship, exclusive in-show educational or gaming site and brand integration in all WPT Season VII "original" episodes, which feature commentary by Mike Sexton and Vince Van Patten and air in Canada, Germany, Italy and the Netherlands.
 
Additionally, PokerStars and WPTE will collaborate to create "localised" Spanish/Portuguese-language programs featuring native commentators for specific territories in Latin America. To date, WPT has successfully aired localised productions for previous seasons in France, UK, Philippines, South Korea and Macedonia.
 
Steve Lipscomb, Founder and CEO of WPT, said: "TV sponsorship is an important part of our business, so having the biggest company in the poker industry jump on board is an exciting way to start international distribution of Season VII. We look forward to working with PokerStars as we roll out the latest WPT programming to fans in these territories."
 
WPT celebrated the deal with more positive news - its Q1 2009 results showed lower losses than had been expected. The televised poker-tournament production company reported a net loss of $521 000 in the first quarter of 2009, compared to a $2.3 million loss in the first quarter of 2008.
 
Revenues for the first quarter increased to $5.5 million, compared to $5 million in the first quarter of 2008, helped by a $512 000 increase in online poker subscription site ClubWPT revenues. The site currently has 14 000 subscribers with an additional 1 000 consisting of trial memberships, an increase of about 2 000 subscribers from the end of 2008. Lower domestic revenues for its televised tournaments in the first quarter were mostly offset by an increase in foreign revenues from previous agreements with Party Gaming for Seasons 4 through 6 of the WPT, along with Season 1 of the now-discontinued Professional Poker Tour.
 
WPT China operations were shut down in March while the search continues for an investor to acquire the assets. WPT China lost $984 000 in the first quarter, compared to a $528 000 loss in the first quarter of 2008. An additional $139 000 in losses will be recorded in the second quarter as the company completes the Grand Final of the second series in the second series of Traktor Poker Tour in June.
 
The company continued downsizing its Los Angeles operations, wrote off its remaining $1 million investment in Cecure Gaming in the first quarter, and said farewell to its online gaming spokesperson in an ongoing effort to reduce expenses and improve cash flow.
 
Income from continuing operations was $479 000, compared to a $2.3 million loss in the first quarter of 2008. In January, the company received a line of credit of $2.7 million from UBS, its broker of $3.9 million in auction rate securities. This development helped improve cash flow from operating activities slightly in the quarter, compared to a $2.7 million cash outflow in the first quarter last year.
 
For the second quarter of 2009, the company expects to air 11 episodes of Season 7 of the World Poker Tour. Revenues are expected to be in the range of $4.0 to $4.3 million, with a small loss in the quarter expected

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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