|April 25, 2007 (Toronto, ON) — CryptoLogic Inc., a leading software developer to the global Internet gaming industry, and WPT Enterprises Inc. (WPTE), the global leader in poker entertainment, announced today a three-year contract that will move the World Poker Tour’s® (WPT) gaming site for the international market to the world’s largest shared gaming network that does not accept bets from U.S. citizens. The agreement, entered into with CryptoLogic’s wholly-owned subsidiary, WagerLogic Limited, will introduce CryptoLogic’s proven poker software while delivering a unique WPT look and feel that will only be offered to WorldPokerTour.com customers. The new WPT poker room is expected to launch in June 2007.|
“Liquidity is a big deal in this business,” said Steven Lipscomb, President, Founder and CEO of WPTE. “CryptoLogic has proven itself to be an industry leader that delivers a superior product. This deal ensures that starting with day one of our online gaming re-launch there will be a plethora of cash games and tournament offerings available for our customers on a stable and proven platform. We will launch with a look and feel unique to World Poker Tour and will work with WagerLogic to incorporate additional WPT features that will begin to redefine and distinguish our product and customer experience.”
“It is the perfect strategic step for both companies, as World Poker Tour and CryptoLogic are pioneers in the global gaming phenomenon,” said Javaid Aziz, CryptoLogic’s new President and CEO. “WagerLogic’s flexibility in working with licensee-specific software needs, as well as its adherence to strict regulatory standards and our shared commitment to growth in markets where on-line poker is embraced, are just some of the key factors that brought WPT and CryptoLogic together.”
In line with US legislation, none of WagerLogic’s licensees takes wagers from US-based players.
The three-year contract between WagerLogic and WPT will run until June 30, 2010, with an expected go-live date for poker in June 2007. WagerLogic will also provide the eCash services and support and customer call services to the WPT gaming sites. WagerLogic will also develop a suite of casino games for WPT, which will include Blackjack, Roulette, Millionaire’s Club, Bejeweled and The Hulk.
“World Poker Tour has quickly become one of the top entertainment brands worldwide,” said AJ Slivinski, WagerLogic’s Managing Director. “We look forward to contributing to their success as they continue to grow and expand their business.”
About WPTE (www.worldpokertour.com)
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 in more than 150 markets globally. 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. WPTE is a majority owned subsidiary of Lakes Entertainment, Inc. (Nasdaq: LACO). Photos and media information can be found online at: www.worldpokertour.com/media.
About CryptoLogicâ (www.cryptologic.com)
Focused on integrity and innovation, CryptoLogic Inc. is a world-leading, blue-chip public developer and supplier of Internet gaming software. Cryptologic’s leadership in regulatory compliance makes it one of the very few companies with gaming software that has been certified to strict standards similar to land-based gaming. WagerLogic Limited, a wholly-owned subsidiary of CryptoLogic, is responsible for the licensing of its gaming software and services to blue-chip customers who offer their games around the world to non-U.S based players. For information on WagerLogicâ, visit www.wagerlogic.com.