WPT Enterprises Inc. announced that its third-quarter revenues of $2.8 million have dropped $1.6 million compared to last year’s results, which reported revenues at $4.4 million.
According to a prepared statement, company attributed the loss to a decrease in domestic television license fees and lower domestic sponsorship fees. Domestic television license fees decreased from $1.4 million to $900,000, while international television declined from $490,000 to $286,000.
On the flip side, WPT saw a slight gain of $31,000 in online gaming revenues.
Net loss was posted at $4.4 million compared to $2.2 million in the same period in 2007, which included a $1.9 million non-cash asset impairment charge related to an investment in Cecure Gaming.