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| WPT ENTERPRISES, INC. RESPONDS TO COMPLAINT FILED BY SEVEN POKER PLAYERS |
LOS ANGELES, July 20, 2006 – WPT Enterprises, Inc. (NASDAQ: WPTE) today
announced, that while it has not received formal notice of a filing of suit,
based on an initial review of a complaint posted on a website by seven poker
players, the Company believes the asserted antitrust and other claims
severely distort the facts and misrepresent the current state of competition in
the poker industry.
WPTE’s General Counsel, Adam Pliska, stated, “We believe the claims alleged
in this suit are without merit and plan to vigorously defend our position while
pursuing all available legal avenues necessary to end this unfounded attack.”
The Company will be represented by the Los Angeles based law firm of
Gibson Dunn and Crutcher LLP.
“We are proud of our contribution to the growth of the poker industry and
are happy many players have benefited from it,” said Steve Lipscomb,
founder and CEO. “Therefore, we find it disappointing that a handful of
players, of the many thousands who play in WPT events each year, have
decided to make these claims even as the sport continues to grow.”
About WPT Enterprises, Inc.
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 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 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. For show information, tools for improving poker
play, and other WPT news, fans may log on to www.worldpokertour.com. The
company is also engaged in the sale of corporate sponsorships. WPT
Enterprises, Inc. is a majority owned subsidiary of Lakes Entertainment, Inc.
(Nasdaq: LACO).
announced, that while it has not received formal notice of a filing of suit,
based on an initial review of a complaint posted on a website by seven poker
players, the Company believes the asserted antitrust and other claims
severely distort the facts and misrepresent the current state of competition in
the poker industry.
WPTE’s General Counsel, Adam Pliska, stated, “We believe the claims alleged
in this suit are without merit and plan to vigorously defend our position while
pursuing all available legal avenues necessary to end this unfounded attack.”
The Company will be represented by the Los Angeles based law firm of
Gibson Dunn and Crutcher LLP.
“We are proud of our contribution to the growth of the poker industry and
are happy many players have benefited from it,” said Steve Lipscomb,
founder and CEO. “Therefore, we find it disappointing that a handful of
players, of the many thousands who play in WPT events each year, have
decided to make these claims even as the sport continues to grow.”
About WPT Enterprises, Inc.
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 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 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. For show information, tools for improving poker
play, and other WPT news, fans may log on to www.worldpokertour.com. The
company is also engaged in the sale of corporate sponsorships. WPT
Enterprises, Inc. is a majority owned subsidiary of Lakes Entertainment, Inc.
(Nasdaq: LACO).
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