WPT Enterprises Selects Key Industry Players in Online Gaming and International Television Distribution to Join Management Team
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Supporting the company’s strategic growth and
diversification of its management team, WPT Enterprises, Inc.
(NASDAQ:WPTE) announced today that it will welcome two additions to the
company. Former Vice President of Poker Software Development for
CryptoLogic, Andy Goetsch joins WPT as Executive Vice President of
Online Gaming, while Rohin Malhotra brings a vast knowledge of
television networks, production, and distribution to his role as
Managing Director - International Sales & Marketing.
Bringing extensive strategic planning and poker experience in the online
gaming market, Goetsch joins WPT from a leader in online gaming
software, CryptoLogic, where he served as Vice President of Poker
Software Development and oversaw the launch of WPT’s
real money gaming site, www.WorldPokerTour.com,
on the CryptoLogic shared network. Goetsch is not only a senior
executive with 21 years of experience in strategic planning, technology,
finance and mergers and acquisitions, but also an avid poker player with
gaming knowledge in both the online poker room environment and
consulting for various Internet gaming sites. As the new Executive Vice
President of Online Gaming at WPT, Goetsch will focus on utilizing the
power of the WPT brand to develop WPT’s player
base, liquidity and online gaming revenue on www.WorldPokerTour.com
by creating innovative marketing platforms and unique WPT offerings that
will attract and retain online players.
Malhotra is making the move from Fox Sports where he was an Executive
Advisor. Prior to Fox Sports, Malhotra served as the International
Marketing & Head of Global Programming for PartyGaming plc, where he
focused on programming strategy and global distribution initiatives. He
also provided operational and business strategy as Senior Director at
MTV Networks. As WPT Managing Director - International Sales &
Marketing, Malhotra will leverage his knowledge and experience to
maximize the WPT content library across all television and multimedia
platforms. His charge is to strategically distribute and utilize WPT
content in traditional and non-traditional media platforms while
building the brand and translating the exposure into traffic and players
for WPT’s online gaming site, www.WorldPokerTour.com.
"Andy and Rohin’s
incredible experience inside and outside of the poker industry are major
assets that will complement the diverse professional background of the
WPT Management team,” said Steve Lipscomb, WPT
Founder, President and CEO. "We realize that a
healthy and successful business works from the inside out, which is why
we continually focus resources toward hiring the best in the business so
that we can remain the best in the poker industry.” 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®,
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 offers 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.
WPTEG
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.
