CALGARY, Alberta, May 31, 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 today announced they have entered into an agreement with the World Poker Showdown (WPS) to expand their operations into the United States and abroad.
Under the terms of the agreement the two companies plan to aggressively pursue opportunities recently created from the new landscape in online and tournament poker, the result of charges filed against six major online poker companies. The agreement lays out a one-year and three-year initiative which will build on the re-launch of the Canadian Poker Tour's tournament and television broadcast model, accelerate sponsorship revenues and exponentially increase membership, television viewership and revenues from new media delivery systems.
"The partnership between WPS is also positioning itself for the impending legalization of online poker in the U.S. and we have been developing relationships with land based casinos throughout North America for this scenario," said Kelly B. Kellner, president and CEO of HeadsUp Entertainment International Inc. "In 2010 online poker revenues were in excess of $5 billion and HeadsUp has positioned itself by hosting and sanctioning over 2,000 casino events in the last five years. These events have built a strong brand, a large player database and barriers to entry in the Canadian marketplace for competitors as well as setting the stage for a major U.S. launch."
"WPS was created to fill a void for more affordable and fun tournaments," said Herb Van Dyke, president of WPS. "We launched our first cruise six years ago and have continued to build on that success. With the footprint we have established in the U.S. the partnership with HeadsUp will also allow us to tap into the lucrative Canadian poker market stoked by their robust economy."
According to Kellner since the filing of indictments against three of the world's largest online poker sites eight weeks ago, HeadsUp has seen its live poker tournament attendance up over 35% across the board. He said the Company recently announced that it has begun building larger, week-long televised tournament series to attract the players that no longer have an outlet online where hundreds of millions of dollars were in play. He believes the partnership with WPS will catapult the new marketing initiative and greatly assist in the Company's ability to capture new revenues.
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 Kellner (403) 269-9039 Website: www.headsupentertainment.com