|Beverly Hills, August 25, 2005 / / -- CYOP Systems International Inc. (NASD OTCBB: CYOS.OB), a leading provider of online gaming software and operator of games portals, is pleased to announce that it has launched its alpha version of its online bingo at www.RedFeltSoftware.com |
The company's UK subsidiary Red Felt Software Ltd. will be responsible for the development and licensing of the software. The United Kingdom is being recognized as a jurisdiction embracing and regulating this sector.
With Red Felt Software Ltd., the Company is marketing to enterprises wishing to enter and capitalize in this market space.
The Company will also be launching its own bingo portal and will market the site directly to new players and those within the SkillArcade.com database.
The Bingo software has been designed using cutting edge technology and has combined with our licensed CrediPlay gaming transaction software. Some features of the game include:
-A top name associated in the “iGaming” Industry
-Excellent Bingo software – no download required
-24/7 Customer Service
-Consistently maintained and continually updated technology
-User friendly major credit card and online banking processing
-Content that appeals to a wide variety of bingo players
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.
Bingo is the largest and most socially accepted method of gambling throughout the world, and the current Internet bingo market is estimated to be more than $800 million with a 400% annual growth rate.
Mitch White, CEO of CYOP said, “We are striving to meet our self-imposed targets, and continuing to work with our partners to launch our products into revenue. We are progressing at a rate that is faster than most in the gaming software development industry, and we thank our shareholders for their patience. Our simple turnkey Bingo gaming system can be easily deployed by any webmaster. We also provide the necessary management experience and support to our licensees and their customers. Once you’ve played our games, you’ll realize that Red Felt Bingo is the best Online Bingo System available.”
CYOP is a provider of multimedia transactional technology solutions and services for the entertainment industry and a developer of online skill games, poker, and bingo. The Company’s range of products and services include financial transaction platforms for on-line video games, licensed online gaming software, gaming websites, poker portals and integrated e-commerce transaction technology for on-line merchants.
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 Software may be viewed at www.RedFelt.com, its play for cash poker site at www.TenSeatPoker.com and it Chinese site at www.CrediPlay.cn
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.
SOURCE: CYOP SYSTEMS INTERNATIONAL INC.
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For Further Information:
Patrick Smyth – 310.248.4860