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WPTE to Launch Online Poker Site on CryptoLogic Network

WPTE to Launch Online Poker Site on CryptoLogic Network 0001

World Poker Tour Enterprises, Inc., owner of the popular World Poker Tour, has announced the signing of a three-year deal with CryptoLogic, Inc., for the game-engine operation and connectivity of a WPT-branded online poker room as part of the CryptoLogic network. The new deal ties WPTE in to CryptoLogic's WagerLogic subsidiary, and sets in motion a timetable for the room's creation and testing that is expected to culminate in a June, 2007 launch.

The new WPT-themed room is expected to be promoted prominently on WPTE's worldpokertour.com site, although it will not accept live-money poker action from U.S. residents, due to UIGEA considerations. The new room will also provide WPTE with a natural offshoot to its televised World Poker Tour events, and in the case of a possible UIGEA repeal or other legislation, provides a solid foundation in case accessibility to online poker for U.S. residents becomes more clearly and legally affirmed.

"Liquidity is a big deal in this business," said Steven Lipscomb, President, Founder and CEO of WPTE. "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."

The three-year deal runs through the end of June, 2010. WagerLogic will also provide interactive-banking and customer-support services as part of the deal, and WPTE also has the ability to include connectivity to other CryptoLogic/WagerLogic games, such as online blackjack and roulette.

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