WPT Enterprises, Inc. Provides Update on Negotiations for Broadcast Rights to PPT Program

WPT Enterprises, Inc. Provides Update on Negotiations for Broadcast Rights to PPT Program

LOS ANGELES, Sept. 29 /PRNewswire-FirstCall/ -- WPT Enterprises, Inc. (NASDAQ:WPTE) has confirmed that a cable television network has withdrawn a previous offer to acquire the broadcast rights to the Professional Poker Tour ("PPT"). WPTE is currently negotiating with The Travel Channel, LLC ("Travel") to reach an agreement under which Travel would broadcast the PPT series.

As previously announced, WPTE is currently involved in a dispute with Travel and its parent company, Discovery Communications, Inc. ("DCI"). WPTE filed its complaint in the legal action on September 19, 2005 in the California Superior Court in Los Angeles, and Travel and DCI have filed their answer and cross-complaint related to the legal action and have filed a motion for judgment on the pleadings. Despite its dispute with Travel, WPTE remains committed to fulfilling its obligations to Travel in connection with the World Poker Tour(R) series, including producing and delivering to Travel the very best in televised poker programming.

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(R), 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 100 markets globally. 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., a publicly held company. Photos and media information can be found online at: www.worldpokertour.com.

(WPTEG)

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 source of revenue, and the potential that WPTE's dispute with the Travel Channel over the Professional Poker Tour broadcast rights could disrupt WPTE's overall relationship with the Travel Channel, which could adversely affect WPTE's results of operations; 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.

Investors: Andrew Greenebaum Integrated Corporate Relations (310) 395 2215 agreenebaum@icrinc.com

(Logo: http://www.newscom.com/cgi-bin/prnh/20050809/LATU100LOGO )

Photo: http://www.newscom.com/cgi-bin/prnh/20050809/LATU100LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com Source: WPT Enterprises, Inc.

CONTACT: media, Jackie Lapin of WPT Enterprises Inc., +1-818-707-1473, jackielapin@cs.com; or investors, Andrew Greenebaum of Integrated Corporate Relations, +1-310-395 2215, agreenebaum@icrinc.com, for WPT Enterprises, Inc.

Web site: http://www.worldpokertour.com/

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