PRESS RELEASE:

THE WORLD POKER TOUR LAUNCHES IN LAS VEGAS

On May 20, 2002, a newly formed company called the World Poker Tour, LLC ("WPT") announced its launch into the burgeoning world of televised upscale poker tournaments, which they are hosting. The company is a joint venture between World Poker Tour CEO, Steven Lipscomb, an accomplished television creator and award-winning filmmaker, and Lakes Gaming, Inc., whose founder and CEO, Lyle Berman, is a world-renowned poker player.

The World Poker Tour will consist of 13 nationally televised poker events, filmed in casinos around the world, where the finalists play for multi-million dollar prize pools.

The Inaugural event of the World Poker Tour will be the Bellagio Five Diamond World Poker Classic, which begins May 27 at the world-famous resort and culminates with the Finals Event on Saturday, June 1 at 2:00 PM. WPT will film the Finals Event as the first show in the WPT season and will broadcast it at a later date.

The World Poker Tour will culminate in the grand finale featuring the winners from each Tour event. But, unlike the Masters, the Super Bowl, or any other sports championship, anyone who is willing to put up the $25,000 buy-in can compete in the final event for a shot at the Championship title and millions of dollars in prize money.

WPT creator and CEO, Steven Lipscomb, is an experienced television producer whose credits include creating shows with Norman Lear, Al Burton and Alvin Toffler. His Discovery Channel documentary on tournament poker bears the distinction of being the highest rated poker program in cable television history. Lipscomb has joined forces with legendary "Poker Hall-Of-Famer" and "businessman extraordinaire" Lyle Berman whose accomplishments include co-founding and managing Grand Casinos (now part of Park Place Entertainment) and founding Lakes Gaming Inc. as well as winning three titles at the World Series of Poker. Lakes Gaming is investing over $3,000,000 in the venture.

"It is estimated that well over 50 million Americans play poker on a regular basis, either in card rooms and casinos or in their own home games," says Berman. "We are very excited to be part of the tour." Lipscomb adds that "This will be the start of making poker a major entertainment vehicle on television."

The aim of the WPT is to widen the audience of Poker by reinventing its image as a stylish and exhilarating sport, combining cunning, skill, tough nerves and sky-high stakes to make a can’t miss television program. WPT intends to revolutionize poker in the same manner that "Who Wants to be A Millionaire" revolutionized game shows. Tour events will be filmed in a hip and energetic style reflecting the youthful and contemporary appeal of the game.