News
Amateur Defeats Hollywood Heavyweights and Poker's Finest at the 5th Annual World Poker Tour(R) Invitational
LOS ANGELES-(Business Wire)-March 7, 2007 - Amateur poker player Adam Weinraub experienced the true meaning of "the gift that keeps on giving" yesterday as he won the 5th Annual World Poker Tour(R) (WPT) Invitational, an invitation-only event and the most glamorous stop of the poker circuit. Weinraub—who won his Invitational seat by bidding last year in a silent auction to benefit the Susan G. Komen Foundation—outplayed a field of 385 celebrities and poker pros to take home the $100,000 first place prize and a $25,000 seat in the WPT World Championship. To keep the giving going, the Orange County native pledged to donate an additional $20,000 to the fund as well as 20 percent of his WPT World Championship winnings.
Adding to the excitement, for the first time in WPT history, the final table included TWO famous Hollywood faces—Nick Cassavetes, director of critically acclaimed movies Alpha Dog and The Notebook; and Glenn Morshower, secret service agent Aaron Pierce on the hit series 24.
The three-day WTP Invitational kicked off March 3rd at the prestigious Commerce Casino in Commerce, Calif. Hollywood heavyweights and poker superstars walked the red carpet, and then battled it out in a Texas Hold 'Em tournament for charity, cash prizes, and a WPT Champion title. Among the players were Vince Vaughn, Paris and Nicky Hilton, Don Cheadle, Mena Suvari, James Woods, Jon Favreau, Camryn Manheim, Jason Alexander, Hank Azaria, Mekhi Phifer, Pete Sampras, Ron Livingston, Laura Prepon, Marlon Wayans, Bai Ling, Maura Tierney, Ed Asner, Jennifer Tilly, Lou Diamond Phillips, Donnie Wahlberg, Shanna Moakler, Jerry Buss, and Morgan Fairchild, as well as pros Mike Sexton, Vince Van Patten, Phil "Unabomber" Laak, Layne Flack, Paul Darden, Hoyt Corkins, Steve Paul Ambrose, Eric Lindgren, Karina and Chip Jett, Nick Schulman, David Sklansky, J.C. Tran, Vanessa Rousso, Robert Mizrachi, John Phan, Allen Kessler, Evelyn Ng, and many more.
By March 5, only six players remained to fight for the $225,000 prize pool provided by Commerce Casino. Poker pros Tim West and "Miami" John Cernuto, Commerce Casino Employee Relations staff member David Mosikian, Weinraub, Morshower and Cassavetes all headed to the final table. Morshower was the first player out, taking home $5,000 in sixth place, followed by Cassavetes in fifth place, who won $10,000 as well as a "last celebrity standing" award—a $10,000 donation to the charity of his choice. Mosikian followed in fourth, earning $15,000, and West received $20,000 for third. Finally, Cernuto placed second in heads-up play against Weinraub, winning $50,000. Leading non-profit arts advocacy organization and Invitational partner, The Creative Coalition, also received a $10,000 donation from the WPT.
"The WPT Invitational is the only sporting event where the biggest names in Hollywood can compete with the best in poker—on an even footing," said Steve Lipscomb, founder, president, and CEO of WPT Enterprises. "Since the first Invitational, we've resisted the urge to level the playing field. This year's event is yet another testament to the fact that celebrities and amateurs who love this game are improving to the point that they can compete against the pros at the top levels of the sport. Having two celebrities at the final table and Weinraub's amazing win were the perfect cap to the fifth anniversary of this event."
The WPT Invitational will air July 11, 2007, on the Travel Channel at 9:00 p.m. ET/PT. World Poker Tour airs every Wednesday at 9 p.m. ET/PT.
About WPTE
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 air on the Travel Channel in the United States and in more than 150 markets globally. With the WPT in its fifth season, WPTE has launched a second series on the Travel Channel, the Professional Poker Tour(TM), which focuses on the play of poker's leading stars. WPT also operates a real-money online gaming website, www.wptonline.com, which prohibits wagers from players in the U.S. and other restricted jurisdictions. 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 The Creative Coalition (www.thecreativecoalition.org)
The Creative Coalition is the leading 501(c)(3) nonprofit, nonpartisan social and public advocacy organization of the arts and entertainment community. Founded in 1989 by prominent members of the creative community, The Creative Coalition is dedicated to educating its members on issues of public importance, primarily the First Amendment, public education and arts advocacy. Headquartered in New York City, The Creative Coalition also has offices in Washington, D.C., Los Angeles and San Francisco. The Creative Coalition does not endorse or raise funds for political parties or candidates.
About Commerce Casino
Commerce Casino is the largest poker casino in the world. There are more than 200 poker tables featuring just about every form of poker: Texas Hold 'Em, 7-Card Stud, Omaha, Lowball, Pot Limit, Mexican Poker, Pineapple, Draw, Low-Ball and many others. Also offered are Pan and California games. Commerce Casino is also recognized for its innovative "Bring Your Home Game to Commerce"program which enables poker fans to invite their friends and family for a casual home game, bachelor party or birthday celebration with a professional dealer in the casino setting. Commerce Casino is located at 6131 East Telegraph Rd., Commerce, CA 90040, just off the Santa Ana (5) Freeway at the Washington Blvd. exit. The phone is 323-721-2100. For more information, go to www.commercecasino.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; difficulty of predicting the growth of our online casino business, which is a relatively new industry with an increasing number of market entrants; the increased time, cost and expense of developing and maintaining WPTE's own online gaming software; 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 WPT 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.
