2004-04-21 00:55:51
CYOP Systems taps into $23.2 billion dollar games and interactive entertainment market
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ONLINE GAMES SECTOR REVENUE INCREASING BY 138% VANCOUVER, April 21 /PRNewswire-FirstCall/ - CYOP Systems International Inc. (NASD OTC: CYOS.OB), the leading provider of online video games and tournaments of skill, publicized today the estimated revenue projections of the online gaming industry. According to DFC Intelligence, the worldwide market for video games and interactive entertainment will grow from $23.2 billion in 2003 to $33.4 billion in 2008. And a new report has concluded that revenue from the videogame industry could bypass the music industry within the next five years, based on projected rates of expansion for the market. Overall, the online games sector took in $960 million in 2003; according to research firm "The Themis Group". That number is expected to hit $1.3 billion this year as the marketplace adopts this new form of entertainment. The recently published IGDA 2004 Online Gaming White Paper (http://www.igda.org/online/) reported that online game revenue will increase at a rate of 138 percent between 2000 and 2005, and online game revenue will exceed $5.5 billion by 2008. DFC Intelligence predicts that there will be 114 million online gamers by 2006 and the total number of online games played will reflect a six-fold increase over current activity levels. Skill video games have been well-received in the North American marketplace, and there exists an opportunity for CYOP to capture a share of the current market, as well as build on the growth of online users. The Yahoo games site boasts tens of thousands of players at any given time on the pool game alone. For example, based on available data today a Skill Gaming company acquiring the following percentages of market share could anticipate the projected gross revenue; Percentage of market share (2004) Projected Gross Revenues --------------------------------- ------------------------ 1/2% $6.5 million 1% $1.3 million 2% $26.0 million 5% $65 million The Company's licensed tournament systems include an online financial transaction network supporting a community of online gamers who compete in skill games to win each other's money. The basic model for business is based on charging a micro-payment for each video game played. The player opens an account on-line using any number of merchant processors so that he or she may register with, and gain access to any pay-for-play tournament of skill. After registering, the individual player may then enter into a tournament pool, out of which the winner(s) are paid from 100% of the entry fees. By structuring the software in this way, the Company has differentiated itself from the I-gambling industry, as its software is neither based on chance nor accepts third party betting and therefore is in compliance with the existing laws of most jurisdictions in North America. Patrick Smyth, President of CYOP, summed it up with, "Play your favorite game on the Web. Play that game against someone thousands of miles away. Play that same person for money. The concept seems simple enough, and its growing popularity is booming with some estimates putting the online gaming industry at a two billion dollar a year business within the next twelve months. This type of gaming is expected to dominate the future and create an entirely new industry overtaking I-Gambling's dominant position in North America - CYOP Systems International Inc. is quickly establishing itself as the leader in the marketplace." About CYOP CYOP is a developer and provider of online skill-gaming solutions and services for the online entertainment and gaming industries. CrediPlay, (www.crediplay.com) a licensed application, is an online transaction platform that is based on charging a fee for each game of skill played over the Internet, including Puzzle, Board, Trivia, Learning games, Action Games, Strategy, Driving, Racing and Adventure, Role Play games. www.skillarcade.com is CYOP's central games portal; an online games destination 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, changes in consumer preferences, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, URL providers, risks relating to international operations, and risks associated with competition. This document is not intended to be and is not an advertisement for any securities of the company. Play Games. Win Games. Make Money.(TM) For Further Information: Freeform Communications Inc. (604) 682-4029 or ir@cyop.org For Affiliate Information: bizdev@cyop.org SOURCE CYOP Systems International Inc. -0- 04/21/2004 /CONTACT: Freeform Communications Inc., (604) 682-4029 or ir@cyop.org; For Affiliate Information: bizdev@cyop.org/ (CYOS) CO: CYOP Systems International Inc. ST: British Columbia IN: CPR OTC SU: -30-
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2004-04-29 13:57:34
CYOP Systems Comments on Growth of Asian Online Games Population, Broadband Access and Love of Video Games Fueling Expansion to $720 Million This Year
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> VANCOUVER, Bristish Columbia, April 29, 2004 (PRIMEZONE) -- CYOP Systems International Inc. (OTCBB:CYOS), the leading provider of online video games and tournaments of skill, commented today on the estimated growth projections of the online gaming industry in Asia. The market for online games in the Asia-Pacific region was $640m in 2003, and will grow to $720m in 2004. Government support of broadband and the PC availability phenomenon both contributed to the runaway growth of online gaming in Korea, which is now being replicated in hyper-growth markets Taiwan and China. Population-wise, China's Internet had more than 22 million new users on the Web last year, bringing the total number of Chinese online to 80 million. That makes China second only to the U.S. in Internet subscribers, however, by 2006, it is expected to overtake the U.S., with 153 million Chinese online. The surge is being driven by several factors, including a strong economy that's letting people buy PCs, and the opportunity the Internet provides to skirt China's tight government censorship. China also has over 40,000 PC cafes nationwide, mirroring the South Korean Internet phenomenon in the late 1990s. Out of fourteen hours per month spent online, the average Chinese Internet user spends eight hours playing games. The recently published IGDA 2004 Online Gaming White Paper (http://www.igda.org/online/) reported that South Korea has demonstrated the fastest growth in the online gaming market, which is being driven by the highest broadband penetration rates in the world, with over 73% of households with multi-megabit access and PC cafes on nearly every street corner. The Company believes that there are no major companies marketing skill video games in Asia yet, and that there exists an opportunity for CYOP to establish a foothold. As an early adopter, CYOP believes that it will be able to capture a significant market share of the industry within the next twelve months, and gross profit margins after direct costs and revenue splits will be in the 20% range. For example: Percentage of market share (2004) Revenues Gross Profit Margin 1/2% $3.6 million $720,000 1% $7.2 million $1.4 million 2% $14.4 million $2.88 million 5% $36 million $7.2 million Patrick Smyth, President of CYOP, commented, "I-Gaming is flourishing in English-speaking countries, however, a tremendous market has been undervalued in regions that are realizing formidable growth in online access. Out of the key world trading blocks, China and Korea lead the number of online gamers on the planet. China's strong economy and a large population, inclined to spend its disposable income on leisure goods and services, makes it a natural objective for our growth. Korea's fondness for gaming and the status that its society puts on this form of entertainment make it a primary country in which to market games. We believe that the Asia is set for several years of strong growth driven by advanced infrastructure, increased Internet access, and a population that, simply put, loves to play online games." 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 sports games, puzzles, card games, action games, strategy, driving, racing and adventure 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, changes in consumer preferences, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, URL providers, risks relating to international operations, and risks associated with competition. This document is not intended to be and is not an advertisement for any securities of the company. CONTACT: Freeform Communications Inc. Scott Young (604) 682-4029 ir@cyop.org For Affiliate Information: bizdev@cyop.org
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2004-04-30 22:03:28
CYOP Announces Partnership With Doubleworld
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> VANCOUVER, British Columbia, April 30, 2004 (PRIMEZONE) -- CYOP Systems International Inc. (OTCBB:CYOS), the leading provider of online video games and tournaments of skill, is pleased to announce that it has reached a partnership with Doubleworld srl, a Milan based marketing company specializing in online gaming. Under the terms of the deal, Doubleworld will translate CYOP's licensed CrediPlay skill games software. The localization of the software will include appropriate gaming and e-commerce translation of the software into Italian, as well as the creation of a culturally specific white labeled website targeting the Italian market, including meta-tags, appropriate keywords and optimization. Doubleworld will then promote the Italian version of SkillArcade.com, and put together partnerships with leading European based portals and webmasters. CYOP's intention is to develop more business in Europe; a growing section of the Internet world that now has over 200 million online, representing only 28% of the total European population. Given that North America has 66% of its total population online, the Company believes that there exists an enormous possibility for expansion into Europe. Patrick Smyth, President of CYOP, noted, "The localization of our products into the Italian marketplace is a result of our strategy to globalize our products for the growing markets. Localization is more than just simple translation, as it encompasses the entire feel of the site and is about position our products with a consistent message that has continuity, focus and meaning. And given the sophistication of the Italian demographic and understanding of online gaming in this region, we expect that CYOP's games will become household favorites." 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 sports games, puzzles, card games, action games, strategy, driving, racing and adventure 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, changes in consumer preferences, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, URL providers, risks relating to international operations, and risks associated with competition. This document is not intended to be and is not an advertisement for any securities of the company. CONTACT: Freeform Communications Inc. Scott Young (604) 682-4029 ir@cyop.org Affiliate Information: bizdev@cyop.org
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2004-05-03 07:30:10
CYOP Systems International Inc. -- Business Development in Asia
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> VANCOUVER, B.C., Canada, May 3, 2004 (PRIMEZONE) -- CYOP Systems International Inc. (OTCBB:CYOS), the leading provider of online video games and tournaments of skill, announced that it has embarked upon a strategy of building associations with large portals and online companies intends to expand its licensed CrediPlay software into the Asian markets. Opportunities to develop relationships with gateways exist in the emerging markets of Asia. Jurisdictions in China, Korea, Taiwan and Japan are being made a priority with the high proportion of gamers, strong Internet growth and readily disposable income. CYOP's skill gaming operations, with the ability to use standard credit card processing, is not hindered by anti-casino legislation in the region. CrediPlay has several unique features: -- It is focused on the online video gaming industry, and is a turnkey system that provides operators with ways to grow their online business with little, up-front investment. -- It creates pay-for-play tournaments of skill on multiple sites for multiple games for multiple players. -- It disburses funds to vertical channel members immediately upon the rendering of a transaction. -- It integrates with all gaming platforms including C++, Java and Flash. -- It's backend is both scaleable and multifunctional providing real-time reporting and security "Our new VP of Business Development, Mr. Craig Owens, will lead the effort to aggressively increase our exposure to portals and gaming companies in Asia," said Mitch White, CEO of CYOP Systems. "The region has seen its numbers grow and gambling and entertainment research firm Christiansen Capital Advisors estimates the number of Asian online gamblers will grow from 4 million in 2003 to 7.4 million by 2006. Ecommerce is expected to serve as an important engine of growth for development across the region, with revenues reaching nearly $600 billion in 2005, a compound annual growth rate of more than 101 percent from 2000. Asia's strong economy, fondness for gaming and a large population, which is inclined to spend its disposable income on leisure goods and services, makes it a natural objective for our growth." 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 sports games, puzzles, card games, action games, strategy, driving, racing and adventure 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, changes in consumer preferences, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, URL providers, risks relating to international operations, and risks associated with competition. This document is not intended to be and is not an advertisement for any securities of the company. CONTACT: For Further Information: Freeform Communications Inc. Scott Young (604) 682-4029 or ir@cyop.org For Affiliate Information: bizdev@cyop.org
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2004-05-03 17:08:54
CYOP to Enter Into Mainstream Video Game Industry
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> VANCOUVER, B.C., May 3, 2004 (PRIMEZONE) -- CYOP Systems International Inc. (OTCBB:CYOS), the leading provider of online video games and tournaments of skill, announced that it has embarked upon a strategy of building associations with "Tier One" game developers in an effort to add more games into its licensed CrediPlay Skill Gaming systems. Game Developers and Publishers own games in a variety of categories. Types of games are role-playing games, strategy games, action games, flight simulations, sports games, card games and single player games. The industry has over 2,900 game developers and publishers including companies such as Acclaim, Atari, Electronic Arts, Midway Games, Nintendo, Sony, Microsoft and THQ. A few industry leaders control the largest market share, and CYOP intends to market its products to these companies as well as the smaller niche developers. Since 1997, the online gamer population has leapt from 5.5 million to 42 million, according to Forrester Research Inc. The number is projected to reach 50 million by 2004. And overall, the online games sector took in $960 million in 2003; according to research firm "The Themis Group". That number is expected to hit $1.3 billion this year as the marketplace grows and broadband becomes more readily available. Patrick Smyth, President of CYOP, commented, "Stung by the overall crunch that has shut down many studios, publishers are scrambling for ways to make a profit. The developers that survive will be those that form both short and long-term alliances with online content and service providers, such as pay-for-play skill gaming. Investments in new games are in the millions of dollars. CrediPlay can provide an opportunity to game publishers to generate new revenue streams and extend the shelf lives of their products. This will, in-turn, bring additional action-type games to our customers and increase our ability to target a new demographic player database." 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 sports games, puzzles, card games, action games, strategy, driving, racing and adventure 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, changes in consumer preferences, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, URL providers, risks relating to international operations, and risks associated with competition. This document is not intended to be and is not an advertisement for any securities of the company. CONTACT: Freeform Communications Inc. Scott Young (604) 682-4029 or ir@cyop.org For Affiliate Information: bizdev@cyop.org
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2004-05-04 11:12:15
CYOP To Enter into Mainstream Video Game Industry; 50 Million Online Video Game Players Make up $1.3 Billion Industry
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High-Tech Writers / Entertainment Editors / Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--CYOS-- CYOP Systems International Inc. (NASD OTC: CYOS.OB), the leading provider of online video games and tournaments of skill, announced that it has embarked upon a strategy of building associations with "Tier One" game developers in an effort to add more games into its licensed CrediPlay Skill Gaming systems. Game Developers and Publishers own games in a variety of categories. Types of games are role-playing games, strategy games, action games, flight simulations, sports games, card games and single player games. The industry has over 2,900 game developers and publishers including companies such as Acclaim, Atari, Electronic Arts, Midway Games, Nintendo, Sony, Microsoft and THQ. A few industry leaders control the largest market share, and CYOP intends to market its products to these companies as well as the smaller niche developers. Since 1997, the online gamer population has leapt from 5.5 million to 42 million, according to Forrester Research Inc. The number is projected to reach 50 million by 2004. And overall, the online games sector took in $960 million in 2003; according to research firm "The Themis Group". That number is expected to hit $1.3 billion this year as the marketplace grows and broadband becomes more readily available. Patrick Smyth, President of CYOP, commented, "Stung by the overall crunch that has shut down many studios, publishers are scrambling for ways to make a profit. The developers that survive will be those that form both short and long-term alliances with online content and service providers, such as pay-for-play skill gaming. Investments in new games are in the millions of dollars. CrediPlay can provide an opportunity to game publishers to generate new revenue streams and extend the shelf lives of their products. This will, in-turn, bring additional action-type games to our customers and increase our ability to target a new demographic player database." 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 sports games, puzzles, card games, action games, strategy, driving, racing and adventure 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, changes in consumer preferences, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, URL providers, risks relating to international operations, and risks associated with competition. This document is not intended to be and is not an advertisement for any securities of the company. KEYWORD: NEW YORK INDUSTRY KEYWORD: RETAIL RETAIL SOFTWARE NETWORKING ENTERTAINMENT CONSUMER/HOUSEHOLD PRODUCT SOURCE: CYOP Systems International Inc. CONTACT INFORMATION: Freeform Communications Inc. Scott Young, 604-682-4029 ir@cyop.org For Affiliate Information: bizdev@cyop.org
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2004-05-04 17:06:23
CYOP Announces Partnership with SINA.com Online
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> VANCOUVER, B.C., May 4, 2004 (PRIMEZONE) -- CYOP Systems International Inc. (OTCBB:CYOS), the leading provider of online video games and tournaments of skill, is pleased to announce that it has reached an agreement to feature CYOP's licensed pool game on an exclusive basis with SINA.com Online, the North American subsidiary of SINA Corporation, a leading online media company and value-added information service provider for China and for global Chinese communities. According to IDC, China's online video game market reached RMB1.3 billion (US$159 million) in 2003 and is expected to grow to RMB6.7 billion (US$809 million) by 2007, representing a compounded annual growth rate of over 50 percent. Currently, the online video game market in China consists of massive multi-player online role-playing games ("MMORPG"). China is expected to mirror Korea over the next few years, where on-line games and game portal business has become an important segment of the overall online revenue-generating market. CYOP will provide a co-branded multiplayer pool game, exclusively for the Game Channel (http://game.sina.com) on SINA.com Online, and SINA will be the exclusive online media company for CYOP's pool games and other free games offered to Hong Kong, Taiwan and United States. SINA will localize and integrate the co-branded Chinese free pool games as well as other games. SINA will further arrange fixed entry points on SINA Taiwan and Hong Kong Game Channel (http://game.sina.com.tw , http://game.sina.com.hk), linking on-line traffic to the co-branded Games site in the US. In efforts of providing significant benefit to Sina's members, the ability to choose between free games, subscriptions games and tournament games will be available. Craig Owens, VP of Business Development, CYOP Systems Inc, stated, "We are very excited about the partnership and the natural fit that exists between our companies. CYOP's licensed technology "Crediplay" provides a platform for SINA.com Online to provide a valuable interactive entertainment model to further capitalize on its existing traffic. The ease of integration has allowed the site to add to their core business without any software development costs or expensive downtime. As we've stated before, the Asian marketplace is very important to the online gaming industry -- with its growing demographics who simply love to play games." 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 sports games, puzzles, card games, action games, strategy, driving, racing and adventure games where people play popular skill games against other players and compete in tournaments to win real money prizes. 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, changes in consumer preferences, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, URL providers, risks relating to international operations, and risks associated with competition. CONTACT: Patrick Smyth (604) 626-1975 ir@cyop.org For Affiliate Information: CYOP Craig Owens (614) 309-6964 bizdev@cyop.org
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