HeadsUp Entertainment Posts Record Revenues and Continues to Expand Key Revenue Centers
November 30 2010 - 6:00AM
Marketwired
HeadsUp Entertainment International Inc. (PINKSHEETS: HDUP),
operators of the Canadian Poker Tour (CPT), Canadian Poker Player
Magazine and the Canadian Poker Player Television Network,
announced today that total revenues for July, August and September
were $324,259 making it the largest fiscal quarter of operations
since the company's inception. This increase is credited to an
enhanced business model implemented for a series of new proprietary
poker events, increased sponsorship sales and higher than expected
CPT membership and renewal revenues.
The success of the 2010 Canadian Open Poker Championships held
in Calgary in August was a turning point for corporate
profitability and a series of poker events are being launched
across the country to monetize the value of the Canadian Poker Tour
brand which has been building since acquired by HeadsUp in July of
2008. Past investments into television production, player
sponsorship incentives and a national casino marketing program are
proving to now be delivering a strong financial infrastructure with
substantial growth projected over the next year. The contract for
the 2011 Canadian Open has already been renewed based on the
success of the event for all parties and will be one of 11 similar
structured tournament models for the upcoming year.
The Company is now securing a new revenue stream from its casino
partners with the launch of the CPT Casino Affiliate package that
is being marketed to poker rooms across Canada. By monetizing the
services that that have previously been offered at no cost to help
build brand awareness and membership across the country, the
Company is projecting an increase to monthly revenues of over
$50,000 per month in addition to the existing revenue streams.
Marketing and advertising revenue from online poker companies
continues to grow and the management of HeadsUp anticipates further
alliances and contracts to be announced soon that will add an
additional major revenue stream for the Company. HeadsUp is
positioning itself to take advantage of new firms entering the
marketplace including Canadian government run online poker
rooms.
The Company is in the process of completing its audited
financial statements as part of an overall policy to become fully
transparent to its shareholders and move to a higher tiered
exchange.
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.
FOR FURTHER INFORMATION PLEASE CONTACT: HeadsUp Entertainment
International Inc. Investor Relations (403) 269-9039 Website:
www.headsupentertainment.com
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