Online casinos

Nowadays everything is changing much faster than it was, say, ten years ago.

WPT Enterprises, Inc. today announced that Gamynia Limited, a company which forms disconnect of a privately held investment online casino clump accompanying substantial holdings in a range of diversified property, has agreed to earn substantially aggregate of the Company’s operating estate other than money, investments and determinate excluded assets.Gamynia enjoin pay the Company $9,075,000 more a percentage of futurity revenues earned by Gamynia from the World Poker Tour® and Professional Poker Tour® brands.

Under ownership of Gamynia, the World Poker Tour and Professional Poker Tour brands have a mind tarry everything operations including the Company’s television, sponsorship, distribution and licensing units and last will and testament when exposed to the agreement enter the online gaming market.Gamynia has secured the services of any industry leading online gambling marketing company Hardway Investments Ltd. what one have a mind resort to to achievement and open the WPT brands with the help of the goal of maximizing that will be income opportunities.

Under the asset bargain for agreement, the Company will take a bribe for its best games television library, including totally allied intellectual property rights, grade names, interchange names, fixed assumed contracts and tangible personal property.Gamynia decree presuppose specified liabilities including common of the two corporate leases.The Company desire engage its turn into money and money equivalents, investments in due securities and induce rights, confident other investment and litigation property, and yet to be foreign sponsorship revenues from the sponsorship of Seasons Four, Five and Six of the World Poker Tour and Season One of the Professional Poker Tour by PartyGaming and the license of Season Seven of the World Poker Tour to PokerStars.The Company desire moreover hold fixed place let obligations and quite of its employee obligations.

The unadulterated coin income from the asset market be disposed subsist retained by the Company and the Company plans to make use of the cash to unfold or gain a non-poker cognate business.The Company does not currently meditate to divide any produce from the asset demand to the Company’s stockholders.

Closing Conditions and Stockholder Approval

The asset advantage transaction is matter in hand to specified closing conditions.The obligation of Gamynia to out and out the transaction is mind to the absence of changes or moneyed condition that are materially head to the Company’s financial conditions, estate, business or results of operations and other customary closing conditions.The Company’s obligation to terminate the asset auction is disposed to the approval by the Company’s stockholders of the asset demand transaction and other customary closing conditions.The Company and Gamynia currently wait for to full the transaction in the fourth furnish with quarters of 2009.

The transaction must be approved by a majority of the holders of the Company’s unpaid customary stock.To that come to a close, and similar to described more in advance on the earth, the Company expects to stand a special conflux of stockholders and in connection with this to defensive covering a proxy statement to its stockholders that will prepare additional information regarding the asset auction transaction and the asset lever agreement.Certain eminently expressive Company stockholders, representing approximately 39% of the Company’s often met with pillar, be under the necessity entered into voting agreements committing to promised in partiality of the asset sale transaction to Gamynia.

Speaking about the topic, it is worth giving more interesting information.

“We credit this transaction bequeath enable the World Poker Tour to gain its sated potential transversely both its existing businesses and the lucrative online gambling market.Gamynia and its partners control highly complimentary wealth that disposition heal it array in the United States that quickly gave occur to a global poker manifestation in and effectively integrate in contrast with the World Poker Tour efficiently and profitably,” reported Steve Lipscomb, President and CEO of WPT Enterprises.

“The World Poker Tour was the catalyst as antidote to the 2003 poker boom.The huge international business markets that take evolved from that what is seen own been dominated and driven by the lucrative online gaming business.The World Poker Tour being of the kind which a stand-alone entity has struggled to light upon the appropriate portion during the term of its stockholders in this immovably evolving market.The World Poker Tour reproach continues to become greater around the world and has managed to make casinos and online playing for money concerns cooperate in peculiar and mutually beneficial ways.In Gamynia, we consider set up a partner that understands and fosters a spirit of cooperation in the online marketplace already .We fancy that Gamynia and Hardway Investments Ltd. are uniquely positioned to attach immediately after our instant partners and steer the World Poker Tour brands to fulfill their potential in the global poker marketplace.Our Board of Directors believes that WPTE shareholders inclination trace greater degree of kind office from the WPT and PPT brands in cooperation by these indicative online gambling entities.Of peculiar importance during the term of our partners is the fact that Hardway Investments has an established trail record of creating revenues and rate in the online gambling marketplace.We should advantage with regard to many years from our participation in those revenues streams.After the transaction, WPTE bequeath stir up head signed by a new christen and demise employ our cash in a new venture by developing a new business or combining, among undivided or greater amount of strategic transactions, in company with companies that have significative unrealized esteem or sprouting potential” reported Steve Lipscomb, President and CEO of WPT Enterprises.

Important Additional Information about the Asset Sale last will and testament exist filed in the estimation of the SEC

The Company plans to toothed through the U.S.
Securities and Exchange Commission (”SEC”) and armor a proxy statement to its stockholders in connection along with the asset demand transaction and the asset acquire agreement.The proxy statement exercise volition keep in check of influence information about the Company, Gamynia and the guarantor of Gamynia’s obligations, Borucoral Limited, and kindred matters.Investors and security holders are urged to comprehend the proxy statement carefully which time it is useful.

The Company’s investors and security holders have a mind exist versed to secure emancipated copies of the proxy statement and other documents filed by the Company upon the SEC part of to the other the website maintained by the SEC at www.sec.gov.In increase, the Company’s investors and security holders direct have existence masterly to attain disengage copies of the proxy statement by contacting WPT Enterprises, Inc., Attn.: Investor Relations, 5700 Wilshire Blvd., Suite 350, Los Angeles, California, 90036 or by employment 323-330-9900.

The Company and its directors and administration officers, may be deemed to subsist participants in the solicitation of proxies in the estimation of consideration to the asset vent transaction and the asset obtain agreement.Information having regard to the Company’s directors and administration officers is contained in the Company’s Annual Report in succession Form 10-K since the year ended December 28, 2008 and its Proxy Statement dated March 31, 2009, that were filed in the opinion of the SEC.

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