|Beverly Hills, May 9, 2005 - CYOP Systems International Inc. (NASD OTCBB: CYOS.OB), a leading provider of online gaming software, is pleased to announce that it has launched www.redfeltsoftware.com through a newly formed United Kingdom Company, Red Felt Software Ltd, that will be organized as a wholly owned subsidiary of CYOP Systems International Inc.. |
With Red Felt Software Ltd. the Company will pursue in the iGaming market place turnkey licensing opportunities for enterprises wishing to enter and capitalize in this market space. The United Kingdom is being recognized as a jurisdiction embracing and regulating this sector.
Red Felt Poker is a simple turnkey poker gaming system that can be easily deployed by any webmaster or administrator. The Company also provides the necessary management experience and support to our licensees and their customers.
More than 200 online poker sites collectively are generating about $2 billion a year in revenues, equal to 40% 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 in the past six months according to an MECN.net survey
Mitch White, CEO of CYOP, commented that; “Red Felt’s Software Licensing model is simplicity in design. The focus is to allow the licensor our partner to focus on growing their business, generating traffic, opening accounts and looking after their community of members. Let us take care of everything else efficiently and economically. Our business model is predicated on working with portals and experienced operators who are looking to become active partners with us.”
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.