Business Services Industry
CYOP to Launch Online Poker & Bridge; Casino Type Games to Be Offered as Part of European Growth Strategy
Business Wire, Feb 15, 2005
BEVERLY HILLS, Calif. -- CYOP Systems International Inc. (OTCBB:CYOS), a leading provider of online video games and tournaments of skill, is pleased to announce that it will be launching online multi-play poker and bridge.
The games are going through testing and will be available for cash play in jurisdictions such as the United Kingdom that consider poker and bridge to be games of skill rather than games of chance. The games will be available for free-play to North American players.
A Bear Stearns report for the industry pegged annual revenue at $4.2 billion for 2003, and Christiansen Capital Advisors predicts that 2005 revenue could exceed $10 billion.
Mitch White, CEO of CYOP, commented, "More than 80 million people play poker at home, in card rooms and online, where over $170 million is wagered each day. If this trend continues, more than $250 million will be wagered on poker on the Internet alone each day by January 2006 according to Bluff Magazine. And last year, a total of $1.6 Billion was wagered online in poker sites. We plan to leverage our growing European player base into this form of gaming, and monetize our database further."
About CYOP
CYOP is a developer and provider of online skill-games and services for the online entertainment and gaming industries. CrediPlay, CYOP's licensed application, is an online transaction platform that is based on charging a fee for each game of skill played over the Internet. CYOP's central games portal, www.skillarcade.com, features virtual games where people play popular skill games against other players and compete in tournaments to win real money prizes.
For more information please visit www.cyopsystems.com.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Exchange Act of 1934 and the provisions of the Private Securities Litigation Reform Act of 1995 and is subject to safe harbor created by these sections. Actual results may differ materially due to a number of risks, including, but not limited to, technological and operational challenges, needs for additional capital, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, and risks associated with competition.
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