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Online Writers / Entertainment Editors / Gambling Writers
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--April 12, 2005-- CYOP Systems International Inc. (OTCBB:CYOS), a leading provider of online video games and tournaments of skill, is organizing operations around its Asian poker and pool venture. With the online traffic available from Asian partners the Company will market and drive this traffic to its "Asian Free Poker" site, expected for launch May 1, 2005. As a targeted audience there is immense value to advertisers and sponsors that the Company is currently in discussions with. Additionally, many free poker players are also, or become, play for cash players. These players provide direct revenues from a 'rake' from the pot in each game plus, to a lesser extent, tournament fees. The Company expects to earn significant indirect revenues from various types of advertising throughout the sites, as well as sponsorships of tournaments and prizes from major consumer based corporations. 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. And Online gaming revenues in the Asia-Pacific region will reach $1.84 billion by 2008, according to a recent report from IDC. Overall, online gaming subscription revenues in the Asia-Pacific region (excluding Japan) are projected to more than double by 2008 to $1.84 billion from $760 million in 2003. CYOP believes that it will be able to capture a small market share of the Asian online gaming industry within the next twelve months equating to significant revenues. And within four years, the Company feels it is possible to capture a significant percentage of the projected market. As an example, 0.5% of the combined projected market equates to gross yearly sales of approximately $92 million. Mitch White, CEO of CYOP, commented, "Casual online game revenue in China was four times greater last year than 2003, and the number of player who go online continues to increase at a phenomenal rate. We believe that we will have one of the first solutions available to the Asian market, priming us to be an early leader in the Asian Poker marketplace."
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.
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.
Play Games. Win Games. Make Money.(TM)
KEYWORD: ASIA PACIFIC NORTH AMERICA CALIFORNIA UNITED STATES CHINA INDUSTRY KEYWORD: ENTERTAINMENT CASINO/GAMING ELECTRONIC GAMES TECHNOLOGY INTERNET PRODUCT/SERVICE SOURCE: CYOP Systems International Inc.
CONTACT INFORMATION: CYOP Systems International Inc. Patrick Smyth, 310-248-4860 Patrick@cyop.org
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