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WPT may be sold off

A major shareholder in the World Poker Tour (WPT) is Lakes Entertainment, holding a two-thirds stake. Now Lakes Entertainment may be considering a sell-off in order to raise substantial amounts of cash. 

The US-based company issued a 'forward looking statement' that seems to suggest it may be considering the sale of its share in the WPT. 

Earlier this year, Lakes Entertainment clashed with the Securities and Exchange Commission over late financial reportage, which it was able to settle recently. In earlier statements the group indicated that it was seeking substantial capital - $10 million by the end of 2005 and an additional $10 million by March 1st, 2006. If Lakes is able to sell off the successful WPT brand, it may be the answer they are looking for to raise this capital.


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