Message #31 From:
NewsBot Date: December 4, 2006 06:00:00 AM
CYOS News CYOP Systems Moves HQ to London
LONDON--(BUSINESS WIRE)--CYOP Systems International Inc. (OTCBB:CYOS),
a provider of online casino software, is pleased to announce that it has
moved its headquarters to the United Kingdom and its operations to Costa
Rica.
Given the changes in the laws in the United States regarding iGaming
payment processing and the impending licensing of iGaming companies in
the UK, CYOP has decided that the most prudent course of action is to
establish a strong European base.
According to a report on Bloomberg online, Julian Easthope, an analyst
at UBS AG in London, says it's too early to say which companies will be
able to take advantage of opportunities in Europe because the
regulations are still developing. The EU's gambling market is valued at
about $70 billion.
CYOP believes that by entering the European sector in the early stages,
that it may have an advantage given its experience as an iGaming
software developer, marketer and operator.
CYOP’s wholly owned subsidiary, Red Felt
Software Ltd. is also domiciled in the United Kingdom.
About CYOP
CYOP is a developer and provider of online gaming 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..
