Face Up Entertainment Group, Inc. Reality Gaming Platform Built to Take Advantage of Ruling That Poker is Legal
September 21 2012 - 4:01PM
Face Up Entertainment Group, Inc. (OTCBB:FUEG), a Reality Gaming
Social Network company, today announced based on a very recent
ruling by Federal Judge Jack Weinstein, that online poker,
deemed illegal since September 30, 2006, when the US Senate passed
the Unlawful Internet Gambling Enforcement Act, might in fact be
legal and shortly available to the online community.
Felix Elinson, the Company's CEO stated, "While our model is
subscription based and currently legal in at least 37 states in the
country, the impact of legalized online poker could be enormous for
our company and for others in this space. Our sophisticated
platform is easily adaptable and we plan to be competitive when the
day arrives based on a nationwide legislative ruling. We built our
platform and functionality with a degree of confidence that online
poker and other games of skill would one day be recognized and
regulated here in the United States and we will be properly
positioned to take advantage of such regulations."
The Judge's decision is great news and a major victory for the
game of poker and for the tens of millions of people who play the
game, believing they are not gambling, but exercising skill in
playing against each other.
"The fact that millions of people enjoy and play poker is
already established. Our goal as a company is to service this
community both in the United States and abroad. At the moment while
the legalities are being sorted out, the legality of our
subscription based model is not in dispute in 37 of 50 states.
When the dust settles and should the ruling be confirmed on
an interstate level, we plan on being ready to attract poker lovers
of all types and skill sets to our site," added Mr. Elinson.
In his ruling, Judge Weinstein also cited a study that analyzed
103 million hands of Texas Hold'em poker, where 75 percent of poker
hands ended when one player induced his opponents to fold so that
no cards were revealed. "Other studies have found that skilled
players defeated unskilled players both in simulations and in
real-world play," he said.
Face Up Gaming's proprietary platform (www.FaceUpGaming.com) is
being used in creating a vast global gaming network consisting of
games from every region of the globe, supporting native languages
as well as cross language functionality. Logical additions to the
platform include global staples in gaming such as Backgammon,
Poker, Chess and Checkers and many others. Face Up Gaming is a
legal non-wagering online gaming platform
(www.FaceUpGaming.com).
Face Up Entertainment Group, Inc is committed to responsible
game-play and is not a gambling site. "Our goal is to maintain the
thrill of online games while keeping it safe for everyone. "Our
social networking functionality provides the user base with the
ability to grow their circle of friends beyond those they
physically reach day to day. Our users sit down to play a game and
more often than not leave making a connection with a stranger which
is then maintained via our social network functionalities," stated
Mr. Elinson.
The Face Up Entertainment Group, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=14445
Forward-Looking Statement
Matters discussed in this release may constitute forward-looking
statements. The U.S. Private Securities Litigation Reform Act of
1995 provides safe harbor protections for forward-looking
statements in order to encourage companies to provide prospective
information about their business. The Company desires to take
advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation.
Forward-looking statements reflect our current views with
respect to future events and financial performance and may include
statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other
statements, which are other than statements of historical facts.
The words "believe," "enormous," "sophisticated platform," "easily
adaptable," "properly positioned," "forecast," "plan," "potential,"
"may," "could," "shortly" and similar expressions identify
forward-looking statements.
The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, management's examination
of historical operating trends, data contained in our records and
other data available from third parties. Although we believe that
these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you that it will achieve or
accomplish these expectations, beliefs or projections.
Important factors that, in our view, could cause actual results
to differ materially from those discussed in the forward-looking
statements include our ability to identify and in-license and the
ability to adequately fund such targeted acquisitions. Risks and
uncertainties are further described in reports filed by Game Face
Gaming, Inc with the U.S. Securities and Exchange Commission.
CONTACT: ir@gamefacegaming.com Tel: 516 303 8100
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