Collectors Universe Provides Authentication of Memorabilia From the WORLD POKER TOUR

stevek

Collectors Universe Provides Authentication of Memorabilia From the WORLD POKER TOUR:

Press Release Source: Collectors Universe, Inc.

Collectors Universe Provides Authentication of Memorabilia From the WORLD POKER TOUR(TM) (WPT) World Championship
Thursday June 23, 8:30 am ET
Collectors' PSA/DNA Division Adds WPT Items to Its List of Authenticated and Certified Well-Known Autographed Collectibles

NEWPORT BEACH, Calif., June 23 /PRNewswire-FirstCall/ -- Collectors Universe, Inc. (Nasdaq: CLCT - News), a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles, announced today that it has provided services under its PSA/DNA division to WPT Enterprises Inc. (Nasdaq: WPTE - News) to authenticate memorabilia from the WPT World Championship to be aired on June 29, 2005.

The WPT World Championship, the culminating event in THE WORLD POKER TOUR'S(TM) third season, was held from April 18-24, 2005 in the Bellagio Hotel and Casino in Las Vegas. The WPT World Championship attracts well-known and established professionals on the poker circuit and also draws a loyal fan base.

Collectors Universe authenticated a number of noteworthy items from this year's event that included poker chips signed by each of the six world-renowned players from the final, championship table, the two hole cards from each of the two players in the deciding and final championship hand in the poker game "Texas Hold 'Em" along with the five common cards from the center of the table in the championship hand, the felt from the championship poker table signed by both the WPT Champion and the second place finisher, and other poker items. These items will be listed on www.eBay.com beginning June 30, 2005.

Michael Haynes, Chief Executive Officer of Collectors Universe, commented, "We are delighted to have the opportunity to work with the prestigious WORLD POKER TOUR and provide our authentication services to items used in such an exciting championship event. In our PSA/DNA division, we have authenticated more than a few famous items and we are pleased to be able to use our expertise in the WPT World Championship event. We believe these authentic memorabilia items from the championship table will make this year's event even more memorable for years to come."

WPTE's Founder and Chief Executive Officer, Steve Lipscomb, acknowledged the importance of Collectors' authentication. "We want our fans to know they are getting the real thing," he said. "It has become clear that fans and collectors value WORLD POKER TOUR memorabilia and collectibles. This assures our winning bidders that they are getting the genuine article -- a piece of the WORLD POKER TOUR."

The WPT World Championship Season III event will be broadcast on the Travel Channel on Wednesday, June 29, 2005 at 9 P.M. PT.

About Collectors Universe

Collectors Universe, Inc. is a leading provider of value added services to the high-value collectibles markets. The Collectors Universe brands are among the strongest and best known in their respective markets. The Company authenticates and grades collectible coins, sports cards, autographs and stamps. The Company also compiles and publishes authoritative information about collectible sports cards and sports memorabilia, United States and world coins, and entertainment memorabilia. This information is accessible to collectors and dealers at the Company's web site, http://www.collectors.com, and is also published in print.

About WPT Enterprises, Inc.

WPT Enterprises, Inc. (Nasdaq: WPTE - News) is a company engaged in the creation of internationally branded entertainment and consumer products driven by the development, production, and marketing of televised programming based on gaming themes. WPTE is the creator of the World Poker Tour®, a television show based on a series of high-stakes poker tournaments that airs on the Travel Channel in the United States and more than 67 markets globally. WPT Enterprises currently licenses its brand to companies in the business of poker equipment and instruction, apparel, publishing, electronic and wireless entertainment, DVD/home entertainment, casino games, and giftware. For show information, tools for improving poker play, and other WPT news, fans may log on to www.worldpokertour.com. The company is also engaged in the sale of corporate sponsorships. WPT Enterprises, Inc. is a majority owned subsidiary of Lakes Entertainment, Inc. (Nasdaq: LACOE - News). Photos and media information can be found online at: www.worldpokertour.com.


Contacts:

Mike Lewis
Chief Financial Officer
Collectors Universe
949-567-1375
Email: mlewis@collectors.com

Brandi Piacente
Investor Relations
The Anne McBride Co.
212-983-1702 x208
Email: bpiacente@annemcbride.com

Jackie Lapin/Jim Llewellyn
WORLD POKER TOUR
818-707-1473
Email: jackielapin@cs.com

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Source: Collectors Universe, Inc.

stevek

I understand what CU is doing here. But "associating" with gambling interests like this really is a very bad idea. I have no clue what CU is thinking in regards to how something like this could possibly benefit them. Regardless of what a few might think, collecting cards, coins, stamps, etc., which is what CU's business is all about, is considered a very wholesome, family oriented hobby and activity. Gambling at casino poker tables or online poker websites isn't considered a family oriented activity, unless maybe it happens to be Steve Wynn's family.

I'm sure that the heads of CU maybe see this as a possible stepping stone to authenticating casino chips and therefore making extra profit for the company. I've got no problem with the grading of casino chips and autographs. But this incident smacks of associating with the gambling industry and that is something that smart organizations such as the NFL, MLB and many other sports and non-sports organizations and companies have emphatically avoided.

Axtell

Many would say that sportscards (especially graded ones) are an investment and/or gamble to purchase. After all, isn't it speculation and gambling that makes pieces of cardboard with photos on it worth thousands of dollars?

Not sure what the problem is with authenticating autographs and chips? They aren't really 'associating' with unsavory gambling interests, and there is a big following for classic casino chips.

stevek

Come on now Axtell - Comparing "investing" in graded cards with gambling at poker tables? I don't think you'll find many people who would equate those two things.

Whether or not there is the perception or the reality of CU associating with the gambling industry could be debated - it looks like reality to me. But my point is regardless of whether it is perception or reality, how can this event possibly do CU any good from a business standpoint? I can only see how this event can harm them, not a chance for any benefit, so why would a respected company such as CU do this? I think this "association" is a mistake that should be quickly terminated.

Axtell

But where is CU gambling at poker tables?

Not trying to pick a fight, but what possible harm can come from them grading poker chips (if they go that way) and authenticating autographs and the like from poker players? So it's ok for ESPN to show the world series of poker, and it's ok for the poker tour to be on tv, but for PSA to authenticate and grade items is somehow a bad decision?

Not sure I follow the logic?


"Collectors Universe authenticated a number of noteworthy items from this year's event that included poker chips signed by each of the six world-renowned players from the final, championship table, the two hole cards from each of the two players in the deciding and final championship hand in the poker game "Texas Hold 'Em" along with the five common cards from the center of the table in the championship hand, the felt from the championship poker table signed by both the WPT Champion and the second place finisher, and other poker items."

stevek

<<< Not sure I follow the logic? >>>

Axtell...I think you may have misread my one sentence...

"I've got no problem with the grading of casino chips and autographs."

Again...I've got no problem at all with that.

I do know this...I would be 100% sure that SGC, GAI and others are salivating about this article and how they can possibly tie-in CU with gambling. When a Mom or Dad decides what grading company they want their children to send their cards to...there are lots of Moms and Dads who are not going to support a grading company, perception or reality, which is associated in any way, shape, or form with the gambling industry.

iamthegreatcornholio

What about the people who buy cards for the sole purpose of cracking and resubmitting? Or people who submit commons? Howabout people who buy a case of wax, hoping to get that big "pull". Or people who buy old wax, hoping to get mint cards?

The sound you hear when you open a pack or when you crack a card out of it's graded case, is the sound of gambling.

Brian

Axtell

<< <i>
When a Mom or Dad decides what grading company they want their children to send their cards to...there are lots of Moms and Dads who are not going to support a grading company, perception or reality, which is associated in any way, shape, or form with the gambling industry. >>



I think it comes down to numbers. I think the number of people would invest in having chips and the like graded and autographs authenticated would far outweigh the number of people who would not honor a company who has ties to gambling.

And Brian, good point...it was one I was trying to bring up earlier about people using cards as gambling.

As a sidenote, didn't Topps insert $100 bills into packs of their cards?

stevek

<<< What about the people who buy cards for the sole purpose of cracking and resubmitting? Or people who submit commons? Howabout people who buy a case of wax, hoping to get that big "pull". Or people who buy old wax, hoping to get mint cards?

The sound you hear when you open a pack or crack a card, is the sound of gambling. >>>

Good points Brian and I agree with you. But at least with this type of gambling you mentioned, there is a chance to win. If someone is knowledgable about cards, there is a good chance to make money.

But in a casino, except for hitting a progressive slot machine super jackpot or winning a super jackpot poker tournament like the WSOP, every gambler will eventually sooner or later lose their money. There has never been ONE single case of a documented (by a reputable accounting firm) of any gambler ever winning money in the long run at regular gambling games either in casinos or on the internet. Not ONE! And that includes poker. Those are the facts.

Sure, poker books can state how casino and online poker can bring gamblers on the road to gambling riches. And losing gamblers in poker forums can state anything they want about themselves winning money which they know isn't true. These gamblers in poker forums thinking about or claiming to win money are only fooling themselves - they aren't really fooling anybody else except for maybe a few other poker forum members.

Chasing after some super jackpot gambling dream is a total waste of money, time and life. And yea I know...Chris Moneymaker did it, right? Well, Chris Moneymaker is an admitted gambling addict who continues to heavily gamble. Unfortunately if Chris keeps gambling it is only a question of when, not if, he will lose back that entire WSOP super jackpot he hit.

Steve

iamthegreatcornholio

I agree with you up to a certain point Steve, but I'd really like to see statistics on unopened vs. opened wax prices. I really do believe the “house-edge” is more for wax then for casinos – at least the games like blackjack (house edge I believe 3%). I know that every box I've ever opened (ranging from $20 to $120 in price) has been worth at MOST half of what I paid for it and in some cases as low as 25%. I didn’t buy it to get rich, I did it for entertainment, and it was very expensive entertainment – the same as playing $10 hands of blackjack or $1/$2 limit hold'em – at least with those last 2, I will know upfront what my odds are! To put it in other words, if there was CONSISTENT money to be paid at opening packs, there wouldn't be any unopened packs; likewise, if there was CONSISTENT money to be made at casinos, there wouldn't be any of those either. Obviously they both exist.

Brian

stevek

<<< I think it comes down to numbers. I think the number of people would invest in having chips and the like graded and autographs authenticated would far outweigh the number of people who would not honor a company who has ties to gambling. >>>

Axtell - I disagree with that. But maybe you'll be proven right and that's what CU also figures. I still believe it is a bad business move the way CU is going about this. But I guess Mike Lewis is a lot smarter than me so we'll see how it all plays out.

Steve

stevek

<<< if there was CONSISTENT money to be paid at opening packs, there wouldn't be any unopened packs; likewise, if there was CONSISTENT money to be made at casinos, there wouldn't be any of those either. Obviously they both exist. >>>

Brian - I'm not sure if I've ever heard anything stated better than the way you just stated it about the realities of casinos

And I completely agree with you about gambling on unopened packs. But at least after busting the unopened packs, there is still some value left there. I've never heard of anyone who continued to play casino games, who didn't eventually lose their entire bankroll

Steve

NBAFan

TTT

jlbsquared

t

Boopotts

<< <i><<< if there was CONSISTENT money to be paid at opening packs, there wouldn't be any unopened packs; likewise, if there was CONSISTENT money to be made at casinos, there wouldn't be any of those either. Obviously they both exist. >>>

Brian - I'm not sure if I've ever heard anything stated better than the way you just stated it about the realities of casinos

And I completely agree with you about gambling on unopened packs. But at least after busting the unopened packs, there is still some value left there. I've never heard of anyone who continued to play casino games, who didn't eventually lose their entire bankroll

Steve >>



This is true if by 'some value' you mean a tangible good; but you will go broke faster opening packs then you will playing Keno (assuming the same number of trials per exercise). Consider: You buy a $200 box, rip it, and get $70 worth of cards. You take this $70, buy another box, and get back $31 in cards. You take this $31, buy another box, and get back $9 in cards... and so on and so on.

You certainly have your opinions on gambling, Steve, and I can (for the most part) respect them, because I actually share them! On most issues I think we're close to in lock step. I think munincipalities should do away with land-based casinos, I think state-managed Lotteries should be dissolved-- in fact, for the most part I'm 'anti gambling'. But that also extends to activities like day trading, and to busting wax. You've been around this hobby a long time, which means I'm sure you have heard-as I have heard-- plenty of stories from dealers at shows and hobby shop owners about grown men nearly weeping as they ask for another box of SP or whatever off the shelf, and passing their credit card across the counter as they pray for a case hit. Hell, just look at these boards-- on any given day there's some guy who makes it very clear that he can't afford to join a rip, and then he breaks down and does so anyway. He pays his $75 (or whatever), gets $20 worth of cards back, and then repeats the exercise.

Human beings are attracted to gambling: This, I think, has been empirically verified. But you're missing the entire picture if you demonize casino gambling, or card games, without pointing a fair finger at all the other activities which we indulge in that clearly fall under the umbrella of gambling.

MeteoriteGuy

I have only walked away from the blackjack table with less money a couple times, I have only came out ahead on packs of cards that I opened a couple of times. My dollar odds seem to be much better at the table...but I do find more enjoyment of opening a Topps Chrome pack then motioning the dealer for another card.

stevek

<< <i>

<< <i><<< if there was CONSISTENT money to be paid at opening packs, there wouldn't be any unopened packs; likewise, if there was CONSISTENT money to be made at casinos, there wouldn't be any of those either. Obviously they both exist. >>>

Brian - I'm not sure if I've ever heard anything stated better than the way you just stated it about the realities of casinos

And I completely agree with you about gambling on unopened packs. But at least after busting the unopened packs, there is still some value left there. I've never heard of anyone who continued to play casino games, who didn't eventually lose their entire bankroll

Steve >>



This is true if by 'some value' you mean a tangible good; but you will go broke faster opening packs then you will playing Keno (assuming the same number of trials per exercise). Consider: You buy a $200 box, rip it, and get $70 worth of cards. You take this $70, buy another box, and get back $31 in cards. You take this $31, buy another box, and get back $9 in cards... and so on and so on.

You certainly have your opinions on gambling, Steve, and I can (for the most part) respect them, because I actually share them! On most issues I think we're close to in lock step. I think munincipalities should do away with land-based casinos, I think state-managed Lotteries should be dissolved-- in fact, for the most part I'm 'anti gambling'. But that also extends to activities like day trading, and to busting wax. You've been around this hobby a long time, which means I'm sure you have heard-as I have heard-- plenty of stories from dealers at shows and hobby shop owners about grown men nearly weeping as they ask for another box of SP or whatever off the shelf, and passing their credit card across the counter as they pray for a case hit. Hell, just look at these boards-- on any given day there's some guy who makes it very clear that he can't afford to join a rip, and then he breaks down and does so anyway. He pays his $75 (or whatever), gets $20 worth of cards back, and then repeats the exercise.

Human beings are attracted to gambling: This, I think, has been empirically verified. But you're missing the entire picture if you demonize casino gambling, or card games, without pointing a fair finger at all the other activities which we indulge in that clearly fall under the umbrella of gambling. >>



Guy - Interesting point as always from you and I "get" your good humor in your posts..sometimes I laugh out loud. One thing I particularly like about you...is you are never boring. No two people are gonna agree on everything.

That is a good point about busting packs that I hadn't contemplated - I have learned things from you. No matter what some here may think, I actually keep an open mind about things including online poker. But sorry, I'll accept no excuses if someone claims publicly to be earning a lot of money playing online poker - when they do that and put out comments in an open forum, then anyone should be entitled to ask them to prove it, otherwise in my viewpoint, it's all basically BS - Gamblers not in recovery are notorious liars and that includes every active gambler because every one of them brags about and overstates their wins, and either doesn't mention or understates their losses...and I think most people already know that about gamblers.

Actually gambling per se doesn't really bother me, and playing poker and those playing poker don't bug me in the least...it's the exploitation especially by those in the gambling industry that bugs me - it's just my nature. And if you saw my posts in other forums, you'd know that I do mention those other things you noted. For example, I've stated many times that it would really not do us much good, if we saved say $25,000 per year by not gambling, and then squandered $25,000 on other frivolous activities such as overspending. In fact right in CU sports memorabilia, I have noted many times what a "sucker's game" it is to bust packs trying to make money. i would even call that a bigger sucker's game than online poker.

Ahmanfan

so is psa making money in the poker grading arena I wonder?