SOURCE: CYOP Systems International Inc.

July 14, 2005 09:45 ET

CYOP to Enter Online Bingo Market

Internet Bingo to Be Playable for Cash

BEVERLY HILLS, CA -- (MARKET WIRE) -- July 14, 2005 -- CYOP Systems International Inc. (OTC BB: CYOS), a leading provider of online gaming software, is pleased to announce that it will be developing and launching multi-player online bingo software.

The company's UK subsidiary Red Felt Software Inc. will be responsible for the development and licensing of the software.

Bingo is the largest and most socially accepted method of gambling throughout the world, and the current Internet bingo market is estimated to be more than $800 million with a 400% annual growth rate.

Currently, between $70 and $90 billion USD is wagered at land based bingo halls each year around the world and there are approximately 60 million bingo players worldwide.

Mitch White, CEO of CYOP, commented, "Bingo is a natural fit for our increasing suite of products. An estimated $10 billion is wagered each year at nearly 50,000 bingo halls in North America alone. This represents per capital spending of approximately $30 on bingo games. The decision to further increase the number of available games has been prompted by the terrific response to our other games and by the forecasts of continued growth in the online gaming industry. "

About CYOP

CYOP is a developer and provider of online skill games, poker and services for the online gaming industry. CrediPlay, CYOP's licensed application, is an online transaction platform that is based on charging a fee for each game played over the Internet. CYOP's central games portal, www.skillarcade.com, features virtual games where people play popular skill games against other players and compete in tournaments to win real money prizes. CYOP's Poker Software may be viewed at www.redfelt.com, its play for cash site at www.tenseatpoker.com and it Chinese site at www.crediplay.cn

For more information please visit www.cyopsystems.com.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Exchange Act of 1934 and the provisions of the Private Securities Litigation Reform Act of 1995 and is subject to safe harbor created by these sections. Actual results may differ materially due to a number of risks, including, but not limited to, technological and operational challenges, needs for additional capital, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, and risks associated with competition.

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Contact Information

  • For Further Information:

    Patrick Smyth, President
    Phone: 310.248.4860
    Email Contact