WPT to Remain Independent

LOS ANGELES, California – (PRESS RELEASE) -- WPT Enterprises, Inc. (Nasdaq: WPTE) today announced that following a comprehensive review of its strategic alternatives with the assistance of its financial advisor, it will remain independent and continue to pursue a stand-alone business strategy at this time. The Board of Directors and management believe that the successful execution of this strategy provides the opportunity to enhance shareholder value. WPTE announced on February 7, 2006 that it engaged Thomas Weisel Partners LLC as its financial advisor to assist with its evaluation.

The Board of Directors believes that the Company possesses a number of significant near and long-term value drivers, including opportunities for continued improvements in its current revenue and earnings generators, including new sponsorships for Season V of the World Poker Tour television series and a re-launch of its online gaming business in 2007.

Steve Lipscomb, Founder and Chief Executive Officer of WPT Enterprises, said, "We are pleased with the progress we continue to make in growing our business and the WPT brand. During the second quarter we delivered a combined nineteen World Poker Tour and Professional Poker Tour episodes and added several new sponsors. Additionally, we recently announced our plans to re-build our online gaming business using technology from CyberArts. We believe that the global poker industry continues to provide opportunities for our growth, and we are very optimistic about our future as an independent company."