China Leisure Sports Administrative Center (CLSAC), the national
Sports Federation governing Leisure Sports under the China State
Sports Administration, announced today that it will launch the first
National Traktor Poker Tournament in China and has selected WPT
Enterprises, Inc. (NASDAQ: WPTE) as the exclusive marketing partner
for the Tour. The unprecedented five-year partnership is a landmark
agreement in China Leisure Sports history and will focus on growing
the sport of Traktor Poker, known as Tuo La Ji, China's most popular
poker game.
In order to better develop this folk sport in China and to satisfy
the people's request for enhanced sports entertainment, CLSAC adopted
"Rules of Traktor Poker Competition" in 2002. This unified the many
local styles of play allowing for better management of the sport and a
more even playing field for competitors.
Coincidentally, that same year, the World Poker Tour televised
tournaments began production in the United States, reinventing poker
as a sport and igniting a global television phenomenon.
The partnership will help CLSAC further promote the Traktor Poker
Sport, create a more entertaining game for the people, and provide
integrated sports marketing support via television production, media,
sponsorship and merchandise. The agreement marks the first time that
the CLSAC will organize such a Tour.
"This marketing partnership with the WPT is a serious commitment
for the CLSAC," said Mr. Hu Jianguo, Director General of CLSAC, "WPT's
skills and experience in expanding the popularity of the Sport in the
US through creative television and marketing strategies will help us
accelerate the growth of the Sport here in China. We look forward to a
long-term partnership with the WPT, expanding this unique Sport and
showcasing the wisdom and teamwork skills of the Chinese people to the
world."
"WPT is honored to be the marketing partner chosen by the CLSAC
for the China National Traktor Poker Tour," said Steve Lipscomb, CEO
of WPT Enterprises. "Poker, especially Tuo La Ji Poker, requires a
great amount of skill and passion, both key ingredients in creating
dynamic and engaging sports television. We look forward to applying
our expertise revolutionizing televised Poker in the United States to
help bring this exciting Sport to Chinese television for the first
time."
CLSAC will launch the first Season of the Tour in the fall, which
is anticipated to visit up to 15 locations around China, including the
online preliminary organized on and by www.ourgame.com, culminating in
the Grand Final in early 2008. CLSAC and WPTE will collaborate in
development of unique TV production and marketing platforms to support
the Tour.
The WPT China office opened this month in Beijing and set up the
official tour website at www.wptpoker.com.cn.
WPTEG Safe Harbor Language
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.
WPT Enterprises, Inc. (NASDAQ: WPTE)