Reuters issued an intriguing report this week claiming that World Poker Tour Enterprises has hired a financial adviser to guide management in their quest for growth alternatives…and a sale or merger of its business could be on the table.
The news clearly pleased investors, driving the stock up by 8 percent when it broke.
Reuters quoted a statement from the company which revealed that it wanted to explore ways to increase its presence in the market for online gaming.
Online gambling, although arguably illegal in the United States, is expected to grow worldwide, with a report by Christiansen Capital Advisors estimating that online poker revenues will grow from about $1 billion in 2004 to $6.7 billion by 2010.