The World Poker Store, Inc. Announces Business Developments in China
06 Juin 2008 - 1:49AM
Marketwired
ST. PAUL, MN , an international entertainment company, today
announced that its Chinese subsidiary has won approval to become a
Joint Stock Corporation. This milestone enables our subsidiary to
accept investment funds from the Chinese public, and is a step
toward listing the subsidiary on a Chinese stock exchange should
management decide to do so. Our subsidiary has completed an initial
round of fund raising from our Chinese business partners.
The construction of our first entertainment complex has begun in
the city of Loudi, China. Our development has been designated a Key
Project by the Hunan Provincial People's Government. Because of
this designation, Chuck Chastain, CEO of The World Poker Store,
will participate in a ceremonial signing of our contract on June
18th at The Hunan Investment Conference in Shanghai. The ceremony
will be attended by the Mayor of Loudi and the Governor of Hunan.
The conference is sponsored by the Hunan Provincial People's
Government to promote investment and economic development.
Loudi Project
Our subsidiary, Shenzhen World Poker Entertainment Inc., will
develop, own, and operate a 50,000 square foot membership-based
entertainment facility called The Palace. The project is located in
the HuiTain Office Tower in the heart of Loudi's business district.
The Palace will include a Las Vegas style nightclub, card room,
business center, restaurant, and health club. Our services are
designed for Loudi's business travelers from the West, and the fast
growing affluent local population which is demanding Western style
entertainment.
The political leadership in Loudi has committed to purchase a
significant number of memberships, and views our entertainment
complex as a strategic asset which will draw new businesses to
Loudi.
We have created a photoshow for our investors to view the
designs of The Palace. Click on this link to view the designs
http://www.photoshow.com/members/WPE/all.
About Loudi
Loudi is a thriving city of 4.5 million people in south central
China. The city is rich in natural resources, home to one of the
world's largest steel mills, and strategically located at the
intersection of national highways and railways. The city has
experienced exceptional growth and a booming economy from the
demand for the natural resources and its close proximity to
Changsha, the capital city of Hunan.
About The World Poker Store, Inc.
The company is expanding The Bar Poker League and its
proprietary Player Card system through licensing agreements and
league sponsorships in the United Stated and Europe. The company is
expanding in China 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
World Poker Store (PK) (USOTC:WPKS)
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