Enterprises Launches Real Money Gaming Website, WorldPokerTour.com
WPT is Offering Fans a $1500 "You Play, We Pay" Bonus and the Chance to Play WPT-Style on One of the World's Largest Shared Poker Networks
LONDON--(BUSINESS WIRE)--July 5, 2007--WPT Enterprises, Inc. (NASDAQ: WPTE) announced today the official launch of its new online real money and "play for fun" gaming site, WorldPokerTour.com. WPT executives are in London to celebrate the launch and invite players from around the globe to register and receive the $1500 "You Play, We Pay" bonus program, one of the industry's largest bonuses ever offered.
Five years ago televised poker sparked the global poker boom and skyrocketed the online gaming business into a multi-billion dollar-per-year industry, yet gaming laws prompted WPTE to tailor its rules accordingly and not accept US bets. In April, WPT moved its online global gaming platform to develop a new site with leading software developer, CryptoLogic, whose shared network offers a constant, substantial player liquidity.
"The launch of WorldPokerTour.com allows us to strengthen our brand with the unveiling of a comprehensive and robust online gaming platform," said Steve Lipscomb, President, Founder and CEO of WPTE. "Our strategic partnership with CryptoLogic offers our users a stable, secure and proven platform while the flexible infrastructure can meet the demands of our growing business."
Lipscomb continued, "WPT played a very key role in the global poker boom and remains one of the most visible and respected poker brands today. By moving our online global gaming platform to CryptoLogic and securing immediate liquidity, we are poised to make a major impact in the online gaming industry and create a significant financial opportunity for our company."
Fans who have played on WPT's original gaming site, WPTOnline, will enjoy a new look and feel as they migrate to WorldPokerTour.com. The site offers a host of popular poker games, including No Limit Texas Hold 'Em, Omaha, 7 Card Stud and Holdem Blackjack; as well as unique tournaments such as Headhunters, where players are rewarded during a tournament for each opponent they eliminate. What's more, WorldPokerTour.com is built into CryptoLogic's global shared network--one of the largest in the world that does not take US bets--where thousands of players are continuously online, ensuring WPT fans can find a game at the level and stake they want, in the currency they want, whenever they want it.
In London for the launch of WorldPokerTour.com, actress, competitive poker player and WPT board member Mimi Rogers said: "It seems fitting to launch WorldPokerTour.com in London, the new poker capital of Europe*. It's great that we can help the growth of the game with our new site; it offers the professional look, feel and security expected by experienced players like me, while offering new players a chance to hone their skills in a fun, free environment."
WorldPokerTour.com does not take bets in the United States or in other territories where online gaming is restricted. Players must be 18 years of age or older.
Notes to editors
* Yesterday Bluff Europe, the most widely read poker magazine, named London as Europe's poker capital (see http://home.businesswire.com/portal/site/google/index. jsp?ndmViewId=news_view&newsId=20070627005491&newsLang=en)
(Due to the length of the above URL, it may be necessary to copy and paste it into your Internet browser's URL address field. You may also need to remove an extra space in the URL if one exists.)
WPT Enterprises, Inc. (Nasdaq: WPTE) is a company engaged in the creation of internationally branded entertainment and consumer products driven by the development, production, and marketing of televised programming based on gaming themes. WPTE is the creator of the World Poker Tour(R), a television show based on a series of high-stakes poker tournaments that airs on the Travel Channel in the United States and is scheduled to begin broadcasting on GSN in early 2008. WPT is licensed for broadcast globally. WPTE also operates a real-money online gaming website, www.worldpokertour.com, which prohibits wagers from players in the U.S. and other restricted jurisdictions. WPTE currently licenses its brand to companies in the business of poker equipment and instruction, apparel, publishing, electronic and wireless entertainment, DVD/home entertainment, casino games, and giftware. The company is also engaged in the sale of corporate sponsorships. For show information, tools for improving poker play, and other WPT news, fans may log on to www.worldpokertour.com. WPT Enterprises, Inc. is a majority owned subsidiary of Lakes Entertainment, Inc. (Nasdaq: LACO). Photos and media information can be found online at: www.worldpokertour.com/media
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by WPT Enterprises, Inc.) contains statements that are forward-looking, such as statements relating to the expansion of WPTE's brand licensing, the development of new television and film projects, the development of WPTE corporate sponsors and other business development activities, as well as statements regarding other capital spending, financing sources and the effects of competition. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of WPTE. These risks and uncertainties include, but are not limited to, WPTE's significant dependence on the Travel Channel as a current source of revenue and GSN as a future source of revenue, and the risk that GSN will not exercise its options to air season of the WPT series beyond Season VI; difficulty of predicting the growth of our online gaming business, which is a relatively new industry with an increasing number of market entrants; reliance on the efforts of CryptoLogic to develop and maintain the online gaming website in compliance with WPTE's business model and applicable gaming laws; the potential that our television programming will fail to maintain a sufficient audience; the risk that competitors with greater financial resources or marketplace presence might develop television programming that would directly compete with WPTE's television programming; the risk that WPTE may not be able to protect its entertainment concepts, current and future brands and other intellectual property rights; risks associated with future expansion into new or complementary businesses; the termination or impairment of WPTE's relationships with key licensing and strategic partners; and WPTE's dependence on its senior management team. For more information, review WPTE's filings with the Securities and Exchange Commission.
Lyndsay LaGree, 323-599-9145
Nicola Miller, +44 (0) 207 344 1534