WPT Names New CFO

LOS ANGELES, Nevada – (PRESS RELEASE) -- WPT Enterprises, Inc. (Nasdaq: WPTE) today announced that Scott A. Friedman, its Vice President of Finance and Corporate Controller, has been named Chief Financial Officer replacing W. Todd Steele, who has accepted a position with a private equity firm. Mr. Friedman joined WPTE in 2004 from Sony Pictures Entertainment where he served as Controller of Sony Pictures Digital. He previously spent five years in finance positions of increasing responsibility at The Walt Disney Company. Mr. Friedman began his career at Arthur Andersen and is a Certified Public Accountant. Mr. Steele will remain with the Company through October 20, 2006, to ensure a smooth transition.

"Scott has been a valuable member of our team since we took WPTE public and has been instrumental in helping grow the business over the last few years," said Steve Lipscomb, Founder and Chief Executive Officer of WPTE. "Todd has been a strong member of our management team, and we wish him well in his new endeavor. WPTE has become a fundamentally strong organization, with bench strength across our financial operations. As a result, we were able to promote from within, allowing us to seamlessly transition as we continue to grow our businesses and build shareholder value."

The Company also announced that, pursuant to a Stock Purchase Agreement dated September 8, 2006 with Aristocrat International Pty. Limited ("Aristocrat"), it had sold its remaining equity interest in PokerTek, Inc., consisting of 450,000 shares of PokerTek's common stock. The transaction closed on September 19, 2006, and the Company expects to recognize a gain on the sale of the investment of approximately $4.5 million in the third quarter of 2006.

Steve Lipscomb commented, "We are pleased with the value that we have generated for our shareholders through our investment in PokerTek. We believe this is a good example of leveraging our brand and position in the poker marketplace to create successful partnerships. We expect to utilize the proceeds from the stock sale to further build our core media and online gaming businesses."