Beijing, China
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)
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Source: Business Wire (Business Wire India)