WPTE Out of Compliance with NASDAQ Requirements

Uh-oh.

The stock price for WPT Enterprises has been consistently falling, with the exception of a minor fluctuation in early July, since it dropped below $1 per share in late June 2008. And despite CEO Steve Lipscomb\’s \”don\’t worry, be happy\” attitude about it, NASDAQ isn\’t cool with that mantra. In the next 180-day time period, if WPTE\’s price doesn\’t stay above $1.00 for 10 consecutive days, the company will be delisted.

Here is the statement released today:

WPT Enterprises, Inc. Receives Nasdaq Staff Determination Letter Regarding Minimum Bid Price

LOS ANGELES, Aug 19, 2008 (BUSINESS WIRE) — WPT Enterprises, Inc. (NASDAQ:WPTE) today announced that the Company received a Nasdaq Staff Determination Letter on August 14, 2008, notifying the Company that it was not in compliance with the minimum stock listing price requirements of Nasdaq Marketplace Rule 4450(a)(5) as a result of the closing bid price for the Company\’s common stock being below $1.00 for 30 consecutive business days. This notification has no effect on the listing of the Company\’s common stock at this time. The Nasdaq Marketplace Rules provide the Company with 180 calendar days to regain compliance, which will require the bid price of the Company\’s common stock to remain above $1.00 for a minimum of 10 consecutive business days. The Company will continue to execute its business plan to provide an opportunity to demonstrate value to the investment community and regain Nasdaq compliance.