WPT and Full Tilt Poker Join Forces
The World Poker Tour just announced that they have just signed a TV sponsorship deal with online gambling giants Full Tilt Poker, home of top players like Mike Matusow, Howard Lederer, Phil Ivey, Patrik Antonius, Chris Ferguson and WSOPE Main Event winner John Juanda.
WPT Enterprises, Inc., the parent company of World Poker Tour, signed on with Full Tilt after disappointing third-quarter results.
According to the fine print, World Poker Tour Enterprises will get $3.25 million from Full Tilt Poker for sponsoring all 26 episodes of season VII. In return, Full Tilt Poker will be the title sponsor and will have exclusive rights to conspicuous brand integration in all the episodes, which will air on Fox Sports Net starting on December 7.
Sounds like a poker match made in heaven and WPT Enterprises founder, president and CEO Steve Lipscomb was happy with the collaboration. "We are delighted to be in partnership with FullTiltPoker.net and bring together two very strong brands with proven global reach and loyal network of poker fans,” he said. “With WPT's incredible brand value and TV distribution through FSN coupled with Full Tilt's massive online following, this partnership opens more channels to reach new fans and continue feeding the appetite for new poker content."
WPT suffered a 36-percent drop in revenue for 2008’s third quarter, compared with the same time last year and the total net loss for 2008 is around $11.1 million. Compounding the loss was the company receiving a de-listing notice from NASDAQ due to its closing share price going below $1.00 for more than 30 consecutive business days.
Collectively, Team Full Tilt has won over $80 million in career winnings, 10 WPT titles and 35 WSOP bracelets so far.