HeadsUp Entertainment International Inc. Signs Letter of Intent to Acquire the "World Poker Showdown"
October 28 2009 - 8:30AM
Marketwired
HeadsUp Entertainment International Inc. (the "Company") (PINK
SHEETS: HDUP) is pleased to announce that it has signed a letter of
intent to acquire all outstanding shares of the "World Poker
Showdown" as a wholly owned subsidiary. This agreement is a major
step in the Company's plan to expand its business model and
operations to the international marketplace.
Having spent the past 5 years consolidating and building a
comprehensive media and tournament infrastructure in the Canada,
HeadsUp now looks to build on the business model it has implemented
on an international basis. With the launch of the Canadian Poker
Tour's Players Membership Card, the upcoming launch of the
Company's online poker television network and the expansion of its
poker tourism and destination event business unit, the WPS
acquisition positions the Company to target its products and
services internationally.
The WPS, since its inception in 2002, has built land based
casino relationships with casinos in Costa Rica, the Dominican
Republic, the Bahamas, Panama, Peru, St. Maarten, Puerto Rico and
mainland USA as well as a series of poker cruises. Having hosted
over 300 international poker events, the WPS has built a player
infrastructure and business model that will be able to maximize
valuation through the partnership with HeadsUp. With an existing
player base of over 20,000 members through its casino
relationships, this market expansion will allow HeadsUp to
capitalize on existing relationships with its pre-paid affinity
credit card product as well as merchandise and destination poker
vacation packages.
Having worked together as a strategic marketing alliance over
the past year, the companies have enjoyed success at a number of
events in Costa Rica, the Dominican Republic and most recently at
the Hard Rock Hotel and Casino in Las Vegas in August. The
acquisition allows HeadsUp to capitalize on 100% of the revenues
generated from administration fees and realize economies of scale
with fixed cost expenditures in advertising, television and
marketing.
The WPS and the Canadian Poker Tour's next event will be held at
the Jazz Casino in Jaco, Costa Rica, November 6-15th and details
can be found at www.canadianpokertour.tv as well as
www.worldpokershowdown.com.
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
www.headsupentertainment.com.
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.
Contacts: HeadsUp Entertainment International Inc. Investor
Relations (403) 269-9039 www.headsupentertainment.com
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