(Press Release) WPT Enterprises, Inc. (Nasdaq: WPTE), developer and owner of the World Poker Tour(R) and the Professional Poker Tour(TM), announced today that it has engaged Thomas Weisel Partners LLC as its financial advisor to assist it in exploring strategic alternatives, including, but not limited to, the sale or merger of the business with another entity offering strategic opportunities for growth.
"Since its launch in 2002, the World Poker Tour has established itself as the premiere televised poker series in the United States and in many international markets. Additionally, we are leveraging the World Poker Tour brand through our real-money gaming website, WPTonline.com, to take advantage of the growing market for online poker," said WPT Enterprises' President and Chief Executive Officer Steve Lipscomb. "We believe that in order to fully take advantage of the brand we have created in online gaming, we need to seek opportunities to increase our scale and reach. Accordingly, we have hired an advisor to assist us in exploring strategic alternatives with the goal of increasing our presence in online gaming and maximizing shareholder value."
In making the announcement, the company stated that there can be no assurance that the exploration of strategic alternatives will result in a transaction. The company does not intend to disclose developments with respect to the exploration of strategic alternatives unless and until its Board of Directors has made a decision.
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