(Click Here for the Latest Online Poker News Stories)
Copyright 2005 Market Wire, Incorporated.
All rights reserved.
Market Wire
July 20, 2005 Wednesday 10:00 AM Eastern Time
HEADLINE: CYOP Signs First Poker Software License
DATELINE: Jul 20, 2005; BEVERLY HILLS, CA; MARKET WIRE
BODY:
CYOP Systems International Inc. (OTC BB: CYOS), a leading provider
of online gaming software, is pleased to announce that it has
signed a letter of intent with RDC Services Ltd. to license its
poker software.
RDC has depth of experience in interactive marketing and management
of online operations, and will pay a set up fee and a percentage
of the net rake to Red Felt Software Inc. Completion of the new
licensee site is expected by the end of August with marketing
coinciding with the end of summer; a historically good time to
begin interactive gaming-site promotion.
CYOP's wholly owned UK subsidiary Red Felt Software Inc. manages
and licenses the online poker software.
Red Felt Software Inc. shall be providing the following:
-- Fully built Poker Site
-- Non-Download Poker Software
-- Real Time live reporting
-- Hosting& Server monitoring
-- Credit Card Processing
More than 200 online poker
sites collectively are generating about $3 billion a year in revenues,
equal to 60% of last year's $5 billion in gambling revenues from
all of the Las Vegas "Strip." An estimated 1.7 million
players are active online; meaning they've played Internet poker
in the past six months. And about 150,000 people play on an average
day, according to PokerPulse.com.
Online gaming will continue to be an explosive cash generator.
Gaming consultants Christian Capital forecast that gaming revenue
will rise to $22.7 billion (US) by 2009, from $8.2 billion in
2004, a growth of 22 percent. Online gaming is also expected grab
an 8.1% share of the worldwide global gaming market.
Mitch White, CEO of CYOP, commented, "We are extremely happy
to have already begun licensing the new software. We launched
the site last month in Beta, and have spent the last few weeks
enhancing the play functions and some of the content. This is
especially important as we roll the product out over increasing
distribution channels and expand into new markets."
About CYOP
CYOP is a developer and provider of online skill-games, poker
and services for the online gaming industry. CrediPlay, CYOP's
licensed application, is an online transaction platform that is
based on charging a fee for each game 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. CYOP's Poker
Software may be viewed at www.redfelt.com, and its play for cash
site at www.tenseatpoker.com.
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.
Play Games. Win Games. Make Money.(TM)
For Further Information:
Patrick Smyth
President
CYOP Systems International Inc.
Phone: 310.248.4860
Contact via http://www.marketwire.com/mw/emailprcntct?id=980C02742A42E8E5
SOURCE: CYOP Systems International Inc.
(Click Here for the Latest Online Poker News Stories)
|