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New Phase in the Development of WPT Enterprises

By Joni Hawk, Dec 13th 2006
WPT Enterprises, Inc. (NASDAQ: WPTE) and Cyber Arts signed an agreement to offer software and technology for re-launching WPTE's online gaming business. Cyber Arts is a Silicon Valley company that has developed one of the world's most advanced online software solutions for the poker world.

"This association will make it doable for us get in the market faster with an advanced product. We have been searching for a strong alternative to our existing technology for some time and are certain that this is the ideal solution." said Steve Lipscomb, founder and CEO of WPTE.

Cyber Arts established itself as a pioneer in gaming technology, with a ten year past in creating, rising and operating Games Grid, which is the first graphical online backgammon club in the world. Cyber Arts plans are to build a revolutionary platform to maintain the next generation of online gaming.

Company's exclusive platform is tailored for sophisticated marketers requiring strong branding capabilities, flexible and innovative functionality, and support for multiple languages and currencies.

Chris Derossi, co-founder and CEO of Cyber Arts said, "We believe our Foundation Software, together with WPT's innovation and commitment to the poker player will create an unmatched gaming site."

Chris Derossi has an experience of more than 20 years as leader at renowned technology companies like Apple Computers. In here he was the chief architect of OS 7 before starting Cyber Arts. The project will be managed by the company's co-founders Derossi and Ken Arnold.

The agreement between the two companies starts a new chapter in the evolution of WPTE’s online gaming business as the company takes control of its own online gaming operation. The World Poker Tour's online gaming industry has operated pursuant to a licensing agreement with Wager Works, Inc since February, 2005.

Thanks to the Cyber Arts deal WPTE will be able to develop, manage, promote and handle customer service for the online poker industry from its own international centers of operation.

During the transition period from Wager Works to its own software, WPTE will continue to work with Wager Works and explore possibilities for future collaboration. 2007 is the expected year to launch the new version of the World Poker Tour's online poker site.

WPT Enterprises provided poker to a worldwide audience through its pioneering and exciting brand of televised poker, now seen in more than 150 countries and territories. The World Poker Tour airs on the Travel Channel, every Wednesday night at 9 p.m. ET/PT in the U.S. and on ITV4 in the U.K.

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