The World Poker Tour (WPT) announced Thursday that it lost money–big money–last year.

The professional poker players’ tour, which is televised on cable TV, announced that it lost $9.6 million in 2007.

The WPT earned $7.8 million in 2006.

Total revenues for 2007 were $21.7 million, down 25% from the $29.3 million in revenues it had in 2006, the WPT said.

Total expenses for 2007 were $31.3 million, compared to $21.5 million in 2006, the WPT said.

The main reason for the drop in revenues last year as compared to 2006 was that the WPT produced fewer episodes last year of its WPT television series, which shows broadcasts of WPT matches, the WPT said.

Also, the amount of money paid to the WPT for each episode it produced was less in 2007 than it was in 2006, as WPT telecasts were dropped by the Travel Channel and moved to the Game Show Network, the WPT said.

(E-mail Tom Somach at tomsomach@yahoo.com.)