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CYOP Systems Signs Contract to Develop Multiplayer Casino Gaming Platform; Development Contract Signed With Interkod Technologies Business Wire - September 14, 2005 09:30
LAS VEGAS, Sep 14, 2005 (BUSINESS WIRE) -- CYOP Systems International Inc. (OTCBB:CYOS), a leading provider of online gaming software and operator of games portals, is pleased to announce it has entered into an agreement with Interkod Technologies Inc. to begin developing online casino games.
Further to our press release dated July 13th, regarding opening a game studio in Central Europe, the Company has hired Interkod Technologies Inc. in Slovakia to build online versions of multiplayer craps, blackjack, roulette and baccarat. The Company decided to contract a third party for the development work after further review of the costs and liabilities of operating another foreign subsidiary.
CYOP will own the games and will license them to third party gaming operators. As well, the Company intends to add them to its own proprietary portals for cash play.
Development of these games will commence on November 1.
Global revenues from online gambling will reach USD$14.52 billion in 2006, up from USD$3.81 billion last year. This is according to a report from the Informa Media Group, which says that the US will generate 24 percent of all online gambling revenues in 2006, whereas Europe will generate 53 percent.
Mitch White, CEO of CYOP, stated, "Having the ability to play with or against other players in real-time is why online poker has become such an enormous success. Our licensed backend technology was initially developed to handle multiplayer games on all platforms including high-end 3D and mobile gaming. We will continue to seek out and develop multiplayer skill and casino games wherever we find applications for this technology."
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