World Poker Tour Welcomes Six New Licensing Partners to the Table

Business Wire, August 27, 2004

LOS ANGELES -- Manufacturers to Bring WPT-Branded Merchandise to Market for the 2004 Holiday Season and through Spring 2005

WPT Enterprises, Inc., creators of the World Poker Tour television series that airs on Travel Channel, announced today that it has signed several new license agreements as part of its comprehensive brand licensing program.

HarperCollins Publishers, the global English-language publishers, will market WPT poker strategy books. The first book in the series is expected to launch at retail in March 2005 to coincide with the WPT Season 3 launch on Travel Channel.

Dorel Industries Inc., an innovative manufacturer and marketer of high-quality home furnishings, will launch wood and metal framed WPT poker tables for home use. The products will launch in broad distribution beginning this Holiday season.

MFORMA, a leading global distributor and publisher of wireless entertainment, will offer interactive WPT entertainment for mobile phones including games, messaging, ring tones, images, icons, mobile greeting cards and other lifestyle applications. WPT wireless content is expected to be available to consumers in late 2004.

Radica Games Limited, widely known as an innovator in the electronic toy and game industry, will develop and market a WPT-inspired, hand-held, Texas Hold 'Em game. The product will combine realistic game play with innovative design and easy to use features. Radica's WPT game is expected to be available in the marketplace in March 2005 at a wide array of electronics, toy and mass and specialty retailers.

Bioworld Merchandising, a trend-setting, apparel accessory company, will manufacture and distribute a broad line of WPT hats and leather wallets in specialty stores, mid-tier department stores and mass merchants for Holiday 2004.

Briefly Stated, a major manufacturer of stylish branded loungewear, underwear and boxers, will market a line of WPT-themed boxers and loungewear across a variety of distribution channels in late 2004.

The World Poker Tour airs on the Travel Channel every Wednesday night from 9:00PM to 11:00PM. The company recently completed an initial public offering of its common stock which is listed on the Nasdaq National Market under the trading symbol "WPTE."

Brandgenuity LLC, a New York based licensing agency, has assisted the WPT in the negotiations and manages the WPT's strategic licensing program. For more information on World Poker Tour licenses, contact Brandgenuity at 212-925-0730 or email info@brand-genuity.com.

About WPT Enterprises, Inc.

WPT Enterprises, Inc. (Nasdaq:WPTE) is a media and entertainment company engaged in the creation of branded entertainment through the development, production and marketing of televised programming based on poker and other gaming themes. To date, operations have principally revolved around the creation of the World Poker Tour brand through the production and licensing of a television series exhibited on the Travel Channel that is based on a circuit of previously-established high-stakes poker tournaments that we have affiliated under the "World Poker Tour" brand. WPT Enterprises, Inc. is a majority owned subsidiary of Lakes Entertainment, Inc. (Nasdaq:LACO). Photos and media information can be found online at: www.worldpokertour.com.

About Brandgenuity LLC

Brandgenuity LLC, an independent boutique trademark licensing agency based in New York, provides turnkey licensing services to owners of famous trademarks. The agency's four principals, Jay Asher, Adina Avery-Grossman, Louis Drogin and Andrew Topkins, have more than 50 years of combined licensing and marketing experience. Brandgenuity agency services include strategic licensing planning, prospecting, negotiation, licensee management and program administration. Brandgenuity's clients include Snapple(R), Yoohoo(R), This Old House(R), Outdoor Life(R), Sports Illustrated(R), Orajel(R), Baby Orajel(R) and Meow Mix(R).

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 WPT's brand licensing, the development of new television and film projects, the development of WPT 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 WPT. These risks and uncertainties include, but are not limited to, WPT's significant dependence on the Travel Channel as a source of revenue; 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 WPT'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 WPT's relationships with key licensing and strategic partners; and WPT's dependence on its senior management team. For more information, review WPT's filings with the Securities and Exchange Commission.