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WPT Enterprises Reports 176 Percent Profit Increase

WPT Enterprises is proud to announce that it had a huge gain in revenue and a net gain in its 3rd quarter, much of it owed to the delivery of nine episodes of the first season of the Professional Poker Tour TV series one episode of season five of the World Poker Tour series and sponsorship growth, it said Friday, Nov 3rd.

Revenue in the 3rd period amounted to $5.9 million, a growth of 176 percent compared to the $2.1 million it made a year ago in the same period.

Net earnings in the quarter were $2.7 million, translating to 12 cents a share, a positive change from the net loss of $1.6 million, or 8 cents a share, in the year-ago period. Net earnings include a gain of $4.5 million gain because of the sale of the WPT Enterprises' outstanding 450,000 shares of PokerTek Inc.'s common stock.

In the fiscal year's first nine months, WPT Enterprises reported $18 million in revenue, an almost double increase compared to last year's $10.6 million same period.

Net income during the nine month period was $8.8 million, or 41 cents a share, also up from a net loss of $3.6 million, or 18 cents a share, in the first nine months of fiscal year 2005.

Los Angeles-based WPT Enterprises Inc. is in the business of making gaming-themed products and broadcasts it through its World Poker Tour TV show on the Travel Channel in the US. The offerings are also being shown in more than 150 markets worldwide.