CYOP Systems International Inc. (OTC BB: CYOS), a leading provider of online gaming software, is pleased to report
that it will be opening a game studio this Fall in Central Europe to
capitalize on the growth of online casino gaming technologies.
CYOP intends to develop "Next Generation" 3D casino games, which will be
made for cross platform integration. These games will be available for
mobile gaming, console gaming and Internet PC applications.
Variations of popular games such as Blackjack, Roulette, Pai Gow, Slots,
Video Poker will be constructed for license to third-party operators, and
game hardware suppliers.
The Company also intends to market its own portals, and will continue to
expand its localization and translation of its software and games.
The studio will be a wholly owned subsidiary of CYOP Systems International
Inc., and will be centrally located in Slovakia. After weighing the pros
and cons of a number of countries, it was decided that Slovakia's
business-friendly government policies that have helped facilitate a foreign
investment boom made it an excellent choice. Slovakia's economic growth
exceeded expectations in 2001-04, despite the general European slowdown.
And their labor market liberalization and a 19% flat tax are also
appealing.
The Slovak Republic joined the OECD, a group of 30 of the most developed
countries in the world, in the year 2000 and is also a member of the
European Union and NATO.
US video game sales totaled almost $10 billion in 2004, and will rise to
$16 billion by 2007, an increase of 61%. Software sales totaled $6.3
billion in 2004, and will rise to $8.0 billion in 2008.
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, commented, "CYOP continues to increase its
presence in Europe, and build a global infrastructure. We feel that the
growth opportunities in Europe are better given that the locals have not
reached the saturation points of the North American marketplaces. We also
believe that the capital and labor market opportunities are better, and
that attitudes towards online gaming are friendlier."
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
Email Contact
