HeadsUp Entertainment Provides Corporate Overview and Update
February 08 2010 - 5:42PM
Marketwired
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.
Contacts: HeadsUp Entertainment International Inc. Investor
Relations (403) 269-9039 www.headsupentertainment.com
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