World Poker Tour Bets on Web Gambling
The other factor that provides Gart comfort is that the stock trades at around $3.70, but the cash on the company's books amounts to a little less than $2 per share. In addition, WPT has no debt.
Part of the reason WPT's stock has fallen so much is that the company has issued disappointing guidance. In addition, investors have been fearing that poker's popularity is just a fad and set to slow.
There's been some debate as to whether the World Poker Tour television show's popularity is falling. From early 2003 through June 2005, it pulled in an average 567,000 viewers per episode, according to Nielsen Media Research. That number has dropped to an average of 459,000 since then.
However, the recent record number of entries at the World Series of Poker in Las Vegas is a sign that the game remains very popular.With the World Poker Tour show now televised in 154 countries, WPT hopes that the boom is set to spread globally. If it does, WPT could be a nice way to capture that growth.
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