San Francisco, California (PressExposure) August 18, 2009 -- WPT Enterprises, Inc. (NASDAQ: World Poker Tour Enterprises) today announced that it has reached an agreement with CyberArts â a Silicon Valley company that has developed one of the worldâs most advanced online software solutions for poker â to provide technology and software for re-launching World Poker Tour Enterprisesâs online gaming business.
âThis relationship will make it possible for us get to market faster with a superior product,â said Steve Lipscomb, founder and CEO of World Poker Tour Enterprises. âNow, like most companies that have been successful in the online gaming space, we will be able to build a unique offering and control our own destiny. We have been searching for a powerful alternative to our current technology for some time and are convinced that this is the perfect solution.â
CyberArts, the designer of the software that currently powers the poker room for Mansion. com, has long been established as a pioneer in gaming technology. Building upon a tenyear history of developing and operating GamesGrid, the worldâs first graphical online backgammon club, CyberArts set out to build a ground-breaking platform to support the next generation of online gaming. The company has customized its unique platform 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 CyberArts explains, âWe are very excited about the prospect of providing the product that can take the WORLD POKER TOURÂ®âS online poker offeringto the next level. We believe our Foundation Software, coupled with WPTâs innovation and commitment to the poker player will create an unmatched gaming site.â
Derossi is known in the poker world as the co-author of Winning at Internet Poker for Dummies, one of the popular titles from the â... for Dummiesâ series. He has more than 20 years of leadership at top technology companies including Apple Computers, where he served as chief architect of OS 7 before starting CyberArts. The project will be managed by the companyâs co-founders Derossi and Ken Arnold.
The announcement of the CyberArts software agreement signals a new phase in the development of World Poker Tour Enterprisesâs online gaming business as the company takes control of its own online gaming operation. Since February, 2005, the WORLD POKER TOURâs online gaming business has operated pursuant to a licensing arrangement with WagerWorks, Inc. The CyberArts deal will enable World Poker Tour Enterprises to develop, manage, market and handle customer service for the online poker business from its own international headquarters. During the transition period from WagerWorks to its own software, World Poker Tour Enterprises will continue to work with WagerWorks and explore possibilities for future collaboration. Launch of the new version of the WORLD POKER TOURâs online poker site will be in 2007.
âThis deal will finally allow us the opportunity to innovate the online gaming experience and deliver a product worthy of the WORLD POKER TOUR brand,â concluded Lipscomb.
The WPT introduced poker to a worldwide audience through its innovative and riveting brand of televised poker, now seen in more than 150 countries and territories. Capturing all the excitement and sizzling poker action at its 17 Tour stops around the globe, the show sets the gold standard in poker programming. The WPT has been a major inspiration in a global poker phenomenon that has attracted millions of men and women to the game and legions of devoted followers to the poker lifestyle. 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. For more information, go to [http://www.worldpokertour.com].
About World Poker Tour Enterprises WPT Enterprises, Inc. (Nasdaq: World Poker Tour Enterprises) 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. World Poker Tour Enterprises is the creator of the World Poker TourÂ®, 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, World Poker Tour Enterprises has launched a second series on the Travel Channel, the Professional Poker TourT, which focuses on the play of pokerâs 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 [http://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). Photos and media information can be found online at: [http://www.worldpokertour.com]