CALGARY, Alberta, April 21, 2011 (GLOBE NEWSWIRE) -- HeadsUp Entertainment International Inc. (Pink Sheets:HDUP) operators of the Canadian Poker Tour, Canadian Poker Player Magazine and the Canadian Poker Player Television Network are pleased to announce a major restructuring of the Canadian Poker Tour (CPT) model to aggressively pursue emerging market opportunities created from the shifting business model of the poker industry.
Since acquiring the CPT brand in July of 2008, the company has focused on expanding the poker tournament circuit to casinos across the country, launching a revenue generating membership program, expanding television properties, building new proprietary events and developing relationships with government regulators and casino operators across the country. This strategy has built the foundation to launch a new season of events that build on the most profitable segments of the live tournament poker sector.
The recent shut down of the largest online poker companies operating in the U.S .has opened a huge market for the live poker tournament circuit as the hundreds of millions of dollars that have been in play online are now looking for an outlet. In addition, the past 2 days has seen many of the major poker television series' cancelled that were produced in the U.S. This sudden shift in the market has compelled management to accelerate its growth plans by launching a series of new proprietary, televised poker tournaments across Canada and internationally. These events will be designed to attract players from the U.S. and around the world that are now looking for a new gaming outlet as the shift from having large online tournaments to live casino events is now underway.
The Company is currently reviewing and negotiating agreements with television networks and production companies to produce a new 6 show season that will begin production in August of this year. The Canadian Open Poker Championships, set for mid August are positioned to grow substantially over last years record breaking numbers that generated over $150,000 in revenues. The company has begun the shift from sanctioning widespread smaller events that have not been generating revenues to building larger more profitable tournament structures at major casinos across Canada and internationally.
Management has also begun negotiating strategic partnerships with industry players as the potential of regulated and government sanctioned online poker appear to be forthcoming. HeadsUp has purposefully waited for a regulated environment before it expands its live casino network into the online sector and monetize its player network to the maximum benefit of its shareholders.
The revenue model for the CPT is now refocused to generate sponsorship dollars from its new television series, increased registration fees from larger events, host casino and site fees and increased focus on membership sales by offering discounts and incentives to its membership base offered by host casinos and sponsors. The company is currently interviewing for a national director and other representatives across the country to implement new marketing campaigns to maximize revenue potential.
Given the current market cap of the company and the projected revenues from a smaller more focused event series with larger scale tournament models, management expects substantial price appreciation to follow with the new business model and market opportunities that are presenting themselves.
About HeadsUp Entertainment International Inc.
HeadsUp Entertainment International Inc. is a global media and entertainment company engaged in the creation of branded entertainment through the development, production and marketing of televised programming based on poker and other entertainment themes. For more information see the Company's website .
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, not guarantees of HeadsUp Entertainment International Inc.'s future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: HeadsUp Entertainment International Inc. Investor Relations Kelly B. Kellner (403) 269-9039 Website: www.headsupentertainment.com