VANCOUVER, B.C., May 3, 2004 (PRIMEZONE) -- CYOP Systems International Inc. (OTCBB:CYOS), the leading provider of online video games and tournaments of skill, announced that it has embarked upon a strategy of building associations with "Tier One" game developers in an effort to add more games into its licensed CrediPlay Skill Gaming systems.
Game Developers and Publishers own games in a variety of categories. Types of games are role-playing games, strategy games, action games, flight simulations, sports games, card games and single player games.
The industry has over 2,900 game developers and publishers including companies such as Acclaim, Atari, Electronic Arts, Midway Games, Nintendo, Sony, Microsoft and THQ. A few industry leaders control the largest market share, and CYOP intends to market its products to these companies as well as the smaller niche developers.
Since 1997, the online gamer population has leapt from 5.5 million to 42 million, according to Forrester Research Inc. The number is projected to reach 50 million by 2004. And overall, the online games sector took in $960 million in 2003; according to research firm "The Themis Group". That number is expected to hit $1.3 billion this year as the marketplace grows and broadband becomes more readily available.
Patrick Smyth, President of CYOP, commented, "Stung by the overall crunch that has shut down many studios, publishers are scrambling for ways to make a profit. The developers that survive will be those that form both short and long-term alliances with online content and service providers, such as pay-for-play skill gaming. Investments in new games are in the millions of dollars. CrediPlay can provide an opportunity to game publishers to generate new revenue streams and extend the shelf lives of their products. This will, in-turn, bring additional action-type games to our customers and increase our ability to target a new demographic player database."
About CYOP
CYOP is a developer and provider of online skill-games and services for the online entertainment and gaming industries. CrediPlay, CYOP's licensed application, is an online transaction platform that is based on charging a fee for each game of skill played over the Internet. CYOP's central games portal, www.skillarcade.com, features virtual sports games, puzzles, card games, action games, strategy, driving, racing and adventure games where people play popular skill games against other players and compete in tournaments to win real money prizes.
For more information please visit www.cyopsystems.com.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Exchange Act of 1934 and the provisions of the Private Securities Litigation Reform Act of 1995 and is subject to safe harbor created by these sections. Actual results may differ materially due to a number of risks, including, but not limited to, technological and operational challenges, needs for additional capital, changes in consumer preferences, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, URL providers, risks relating to international operations, and risks associated with competition. This document is not intended to be and is not an advertisement for any securities of the company.