HeadsUp Entertainment’s 2 Week Poker Cruise Revenues Expected To Exceed $2,000,000 USD, With Net Earnings Approaching $1,20...
June 29 2010 - 8:00AM
Business Wire
HeadsUp Entertainment International Inc. (Pinksheets: HDUP),
operators of the Canadian Poker Tour (CPT) and Canadian Poker
Player Magazine, announced that they have finalized an agreement
with strategic partner World Poker Showdown and Royal Caribbean
Cruise Lines to host a Poker Super Cruise on the “Freedom of the
Seas” launching March 23, 2011 from Port Canaveral, Florida. Based
on the success of the previous poker cruise held in April of this
year, the event is being expanded to 2 weeks sailing first to the
Eastern Caribbean and subsequently to the Western Caribbean
ports-of-call. By expanding to a 2 week series, profitability
increases substantially as fixed costs of tournament infrastructure
are covered in the first week and options for players to
accommodate their vacation schedules are expanded. Sponsorship revenue, tournament fees and cash
game rake revenue is expected to exceed $2,000,000 USD over the 2
week period, with net earnings approaching $1,200,000 or
$.018/share.
HeadsUp President and CEO Kelly Kellner is actively engaged in
negotiations this week that will allow for new television
broadcasting technologies to help reduce production costs, add
value to the sponsorship packages being sold and innovate the way
that poker tournaments are currently being delivered to the
marketplace. “The opportunities that have unfolded during our time
in Las Vegas at the World Series of Poker are about to create a
substantial turn in the profitability of broadcasting poker
events,” stated Kellner. “A positive impact on shareholder value
must come from innovation and the reduction of costs while
continuing to negotiate strong agreements for generating revenues.
To be able to deliver this kind of revenue in a short period is
testament to the success of the branding we have worked so hard to
build over the past 6 years.”
The Company is currently presenting a similar business model
event structure to 4 Canadian and 2 international casinos and looks
to make those announcements as soon as contracts are finalized.
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.
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