WPT Enterprises, Inc. (NASDAQ:WPTE) today announced that it has signed a multi-year agreement with PartyGaming Plc, owner of PartyPoker.com, pursuant to which they will provide international television sponsorship of the WORLD POKER TOUR(R) (WPT) and Professional Poker Tour(TM) (PPT). The agreement covers shows produced under WPT Seasons IV, V, and VI and PPT Seasons I, II, and III.
The agreement helps solidify and expand the international WPT brand through PartyGaming's extensive marketing resources, provides valuable promotional opportunities for WPT's online gaming site and worldpokertour.com, and represents a new revenue stream for WPTE. PartyPoker.com will receive exclusive in-show branded integration and association with the premier brand in televised poker. The financial terms of the agreement depend upon the number of international territories contracted with, the amount of branded integration within each episode and the number of episodes aired. PartyGaming has also made certain commitments towards online satellites to tournaments and promoting the WPT Academy.
"We are pleased to be creating an alliance with a leading marketer such as PartyGaming," said Steve Lipscomb, Founder & Chief Executive Officer. "This deal represents a win-win for both parties. It aligns WPT and PartyGaming's goals of expanding the international distribution of our programming and helps facilitate the growth of poker worldwide."
About WPTE
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 more than 150 markets globally. With the WPT in its fifth season, WPTE has launched a second series on the Travel Channel, the Professional Poker Tour(TM), which focuses on the play of poker's leading stars. WPT also operates a real-money online gaming website, www.wptonline.com, which prohibits wagers from players in the U.S. and other restricted jurisdictions. WPT Enterprises 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. (WPTEF)
About PartyGaming Plc
Founded in 1997, PartyGaming Plc owns and operates PartyPoker.com, as well as EmpirePoker.com. Other online gaming activities include casino, principally through PartyCasino.com and StarluckCasino.com, online bingo through PartyBingo.com, backgammon on PartyGammon.com and non-US facing sports betting through Gamebookers.com and PartyBets.com
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 source of revenue; difficulty of predicting the growth of our online casino business, which is a relatively new industry with an increasing number of market entrants; the increased time, cost and expense of developing and maintaining WPTE's own online gaming software; the uncertain impact of the Unlawful Internet Gambling Enforcement Act of 2006 on our business and on the competitive environment for finding online gaming customers outside the United States; 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 WPT 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.
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