|CYOP Systems International, a leading provider of online video games and tournaments of skill, is organizing operations around its Asian poker and pool venture.|
The company plans to drive online traffic from its Asian partners to its ‘Asian Free Poker’ site, expected to launch May 1, 2005. The company has high hopes for the success of the targeted venture, predicting that many players joining for free will go on to play for cash, providing direct revenues from tournament fees and a 'rake' from the pot in each game.
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.
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. Within four years, the expects to capture a significant percentage of the projected market - 0.5% of the combined projected market equates to gross yearly sales of approximately $92 million.
‘Casual online game revenue in China was four times greater last year than 2003, and the number of players who go online continues to increase at a phenomenal rate,’ said Mitch White, CEO of CYOP, ‘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.’