JAKKS Pacific, Inc. (Nasdaq:
JAKK - News) announced today that the Company has signed a licensing
agreement with World Poker Tour, LLC to develop and market JAKKS
Pacific's TV Games(TM)
Texas Holdem
products based
on the poker game played on the World Poker Tour (WPT) television show
on the Travel Channel.
"We are ALL IN,"
said Jennifer Richmond, Senior Vice-President of Licensing, JAKKS
Pacific. "The WPT product in our TV Games(TM) line will enable game
players to play exciting, high stakes poker (for play money) in a
single, simple-to-use controller, allowing millions of poker fans a
new, exciting way to feel the thrill of playing in a WPT event and
enjoy the great game of poker."
More than five
million people tune in each week to watch the WPT on the Travel
Channel on Wednesday nights. Through innovative "WPT cams," the
players' hidden cards are revealed to the viewer, giving the at-home
Texas Holdem poker fan the sensation that amidst the high-stakes drama
and tense competition, they are the ones making million-dollar
decisions every hand. The show is the highest-rated series in the
history of the Travel Channel.
Audrey Kania,
Senior Vice President of World Poker Tour, LLC, commented, "We chose
JAKKS because they are the undisputed market leader in plug and play
products and they have proved their commitment to bringing innovation
to the category."
The TV Games(TM)
product is a plug and play gaming system that contains multiple games
in one single controller. All that is needed are batteries and a TV --
no videogame consoles or gaming cartridges are required. Simply plug
the TV Games(TM) product into the A/V jacks of any standard television
set, turn it on and play! The lightweight, compact, all-inclusive
controller houses a combination of videogames with all of the hardware
built right in. This technology allows gaming fans to enjoy a number
of videogames with just one single purchase.
JAKKS Pacific will
work closely with WPT experts when developing the WPT TV Games(TM)
products to ensure maximum authenticity, and expects its World Poker
Tour TV Games(TM) products, to retail for approximately $20. For more
information on JAKKS' TV Games(TM) lines, go to www.jakkstvgames.com.
This license
arrangement was developed through and negotiated by Brandgenuity, LLC,
WPT's strategic licensing and merchandising agency of record.
About The World
Poker Tour:
World Poker Tour,
LLC is a media and entertainment company principally engaged in the
development, production and marketing of gaming-themed televised
programming, the licensing and sale of branded products and the sale
of corporate sponsorships.
About JAKKS
Pacific, Inc.:
JAKKS Pacific,
Inc. is a multi-brand company that designs and markets a broad range
of toys and leisure products. The product categories include: Action
Figures, Arts & Crafts Activity Kits, Stationery, Writing Instruments,
Performance Kites, Water Toys, Sports Activity Toys, Vehicles,
Infant/Pre-School, Plush and Dolls. The products are sold under
various brand names including Flying Colors®, Road Champs®, Remco®,
Child Guidance®, Pentech®, Trendmasters®, Toymax®, Funnoodle®, Go Fly
a Kite® and JPI Color Workshop®. The Company also participates in a
joint venture with THQ Inc. that has exclusive worldwide rights to
publish and market World Wrestling Entertainment® video games. For
further information, visit www.jakkspacific.com.
This press release
contains statements that are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on current expectations, estimates and
projections about JAKKS' business based, in part, on assumptions made
by its management. These statements are not guarantees of JAKKS'
future performance and involve risks, uncertainties and assumptions
that are difficult to predict. Therefore, actual outcomes and results
may differ materially from what is expressed or forecasted in such
forward-looking statements due to numerous factors, including, but not
limited to, those described above and the following: changes in demand
for JAKKS' products, product mix, the timing of customer orders and
deliveries, the impact of competitive products and pricing and
difficulties encountered in the integration of acquired businesses.
The forward-looking statements contained herein speak only as of the
date on which they are made, and JAKKS does not undertake any
obligation to update any forward-looking statement to reflect events
or circumstances after the date of this release.
