China Leisure Sports Administrative Center and WPT Enterprises, Inc. Announce Their Partnership to Build First National Poker Competition in China
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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)