Lakes Entertainment Swings to Profit on World Poker Tour Gains
During the first quarter of 2006, WPT Enterprises and the Travel Channel entered an agreement to air the new Professional Poker Tour series. The series, which features invitation-only tournaments with top-ranked poker players, is scheduled to begin airing regularly in the third quarter.
Minnetonka-based Lakes (Nasdaq: LACO) also benefited from $900,000 in new online gaming revenue from Los Angeles-based WPT Enterprises, which did not generate any such revenue a year earlier. The company also gained $5.7 million in the first quarter from the sale of 630,000 shares of PokerTek Inc. (Nasdaq: PTEK) common stock held by WPT Enterprises.
May 8, 2006
Posted By Nancy Lenz
Staff Editor, CasinoGamblingWeb.com
Previous Page | Internet Gambling | Top Online Casinos | Submit News!