HeadsUp Entertainment International Inc.

HeadsUp Entertainment International Inc.

February 08, 2010 17:42 ET

HeadsUp Entertainment Provides Corporate Overview and Update

CALGARY , ALBERTA--(Marketwire - Feb. 8, 2010) - HeadsUp Entertainment International Inc. (PINK SHEETS:HDUP) is pleased to provide a corporate update for its shareholders and other interested parties. Having just completed its year end as of January 31, the Company is currently preparing its quarterly and year end financial statements which will be posted on www.pinksheets.com. In addition, the Company is continuing the process to upgrade its listing status to fully reporting.

2009 was witness to continued growth in all revenue generating sectors of the company. Since the acquisition of the Canadian Poker Tour brand, HeadsUp has been able to grow the number of events by over 800% as it looks to sanction and host close to 600 poker tournaments in 2010. As a means to monetize the player base and create new revenue streams, the launch of the CPT Players Membership program has been extremely successful. The launch in Alberta early in the year targeted its extensive casino partner relationships and provided a baseline for strategic planning of the nationwide marketing campaign currently being implemented. The $95 membership has been designed to give players tremendous value and incentive to play not only in their local communities but as witnesses in 2009, many players are using sponsorship incentives for discounts on travelling across the country to other events. As an example of value, a player can save over $750 this year alone by playing at Grey Eagle Casino in Calgary and receiving registration fees discounts. The Company is working diligently to create this type of value at all of its 38 affiliated casinos and poker rooms across the country.

Proprietary events, which are tournaments that have been created and are run by the Company at various venues across the country, look to continue to accelerate revenue generation in the upcoming year. The Canadian Open Poker Championship is the Company's flagship tournament and negotiations are underway to host this year's event either in B.C. or Ontario in order to capitalize on the larger player and population base as well as more favorable regulatory conditions for television broadcasting of the events. The Company estimates that this event will double in size this year and being the leading revenue generator from events fees and television sponsorship. HeadsUp broadcasts all of its events currently on The Score Television Network, its exclusive media partner. As a supplementary method to re-monetize its investments in television production, the Company recently announced the launch of its own online poker television network. The Canadian Poker Player Television Network (CPP TV) will being streaming is beta test on March 5th, 2010 and has secured an advertising and sponsorship deal with 888 Poker with other sponsorship deals currently being negotiated. 

CPP TV will be a sister media delivery content partner along with its publication Canadian Poker Player Magazine. The first 3 issues were published in 2009 and come out every second month with 6 issues slated for 2010. Ongoing advertisers in the magazine include Full Tilt Poker, Cake Poker, 888 Poker, PKR, Ace's Wine Group, Ksino Clothing, The Score Television Network, Victory Poker and Party Poker as well as a number of land based casinos promoting their respective upcoming events. The magazine is distributed at no charge through poker rooms across the country but as CPT Membership sales increase, the distribution model is shifting to more of a subscriber base with plans to launch both a casino and subscriber version. The magazine has been profitable since its last issue and new advertisers are adding to the profitability of this business unit.

Poker tourism is an area that is growing quickly for HeadsUp. With its strategic marketing alliance with the World Poker Showdown, marketing poker vacation destination packages to Canadian players is a growing market. Events in Costa Rica , the Dominican Republic and Las Vegas have been profit centers and pre-registration for the upcoming Poker Super Cruise April 25-May 2 looks to be very strong. Details on this event can be found at www.canadianpokertour.tv and www.worldpokershowdown.com. HeadsUp has announced previously that it has signed a letter of intent to acquire the World Poker showdown as a wholly owned subsidiary and the due diligence period is currently underway. This acquisition along with others is a strategy the company is implementing to fully realize the potential of offering sponsors and players a comprehensive model that maximizes revenue potential in order to increase shareholder value. 

"I am very encouraged about the potential for our Company as we continue to meet and exceed benchmarks set within our business plan," commented Company President Kelly B Kellner. "With many of the players repositioning themselves in the international poker marketplace, our comprehensive marketing and media model positions us to generate substantial revenues going forward or make us an attractive acquisition candidate."

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 websites www.headsupentertainment.com and www.canadianpokertour.tv.

Forward-Looking Statements:

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.

Source: HeadsUp Entertainment International Inc.

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