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The business model for the expansion into Mexico mirrors The World Poker Store's European strategy. The licensee will identify host locations and manage the tournaments. The World Poker Store will provide the league web site, Player Card data technology, prizes, training, support, and the use of company trademarked logos and images including professional player images. Management anticipates that league sponsorship with an online gaming company and additional beverage agreements will be reached in support of the Mexican league. Liga Mexicana de Poker currently has industry contacts including a Mexican television broadcast company that will further opportunity for production of a reality television show based on the league.
Europe Update
The World Poker Store and their business partners continue to prepare for the launch of The Bar Poker League in The Netherlands in February 2009. In conjunction with the Dutch television show, "Poker Kampioen Van Nederland" over 200 host locations will convert to The Bar Poker League.
The launch of The Bar Poker League in Germany is expected in January 2009. The league will begin play with team tournament events in Cologne, Dusseldorf and Bonn with immediate expansion scheduled through out most of western Germany. The holiday season impeded the availability of many targeted host sites; therefore the decision was made to postpone the launch to capitalize on bigger opportunities in January.
China Update
Due to licensing issues, the opening of Palace in Loudi has been postponed until January '09. The Chinese licensing agency required the World Poker Store's Chinese subsidiary to move to Hunan province and change its name from Shenzhen World Poker Entertainment to Loudi World Poker entertainment as that is the location of the first Palace entertainment club opening. This minor technicality caused a delay in the licensing process for the first Palace location. All issues have been resolved and the project is moving forward. The company expects to begin operation of the Loudi Palace location in January 2009. Government officials in Loudi have been exceedingly helpful in this rapid transition and local government along with the surrounding business district has expressed great anticipation of the January Palace opening for Loudi World Poker Entertainment.
About The World Poker Store, Inc.
The World Poker Store is an emerging international entertainment company that is expanding The Bar Poker League and its proprietary Player Card system through licensing agreements and league sponsorships in the United States, Europe and Mexico. The company is expanding in China, through a subsidiary, where it will own and operate upscale membership-based entertainment clubs that offer Las Vegas style entertainment, including VIP amenities and free poker tournaments. The company continues to benefit from the support of its advisory board of world class poker players including Marcel Luske, Phil Hellmuth, Johnny Chan, Patrik Antonius, Hoyt Corkins and Liz Lieu. Additional information about the company can be found on its website www.theworldpokerstore.com.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
CONTACT: Mike Sikkink PHONE: 651-286-8918 EMAIL: investorrelations@theworldpokerstore.com
SOURCE: World Poker Store
mailto:investorrelations@theworldpokerstore.com
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