Message #27 From:
NewsBot Date: August 14, 2006 03:30:00 AM
CYOS News CYOP Systems to Open SportsBook Under RedFelt.com Brand
LONDON--(BUSINESS WIRE)--Aug. 14, 2006--RedFelt Software Ltd., a wholly owned subsidiary of CYOP Systems International Inc. (OTCBB:CYOS), a provider of online casino software and operator of games portals, is pleased to announce that it will be entering the online SportsBook industry.
Following its brand strategy, the SportsBook will be located at RedFeltBook.com and RedFeltSportsBook.com. The sites will be focused on the Asian and European markets; areas where online gambling is growing at a frenetic pace.
The sites will offer a full range of sports betting options and an extensive number of betting types including straight bet, parlay, over/under, money-line, and teasers. The site will offer a number of sports from baseball to basketball to boxing, as well as soccer lines from over 60 different countries.
According to Christiansen Capital Advisors, the SportsBook industry is valued at $8 billion, and growing at an unprecedented rate with the expansion of the Internet into emerging markets.
And according to GamingPublic.com, Macau, as an example of the B & M marketplace, is expected to grow at a compound annual growth rate of 15 percent from 2004 to 2010, when the market could total $13 billion a year, he said. That is more than double the $6 billion that Las Vegas Strip casinos won from gamblers last year.
The Company recently completed the launch of its first cash casino at www.redfelt.com, and will be launching its first affiliates for its poker site, www.redfeltpoker.com later this month.
About CYOP
CYOP is a developer and provider of ecommerce transactional solutions and services for the IGaming industry. The Company's range of products and services include financial transaction platforms for on-line casinos, online gaming software, gaming websites, poker portals and integrated e-commerce transaction technology for on-line merchants.
This press release may contain forward-looking statements which are pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that actual results may differ materially and all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the Company's financial condition and prospects, legal risks associated with Internet gaming, risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on third party software providers, risks relating to international operations, and risks associated with competition.
