LAS VEGAS--(BUSINESS WIRE)--HeadsUp Entertainment International Inc. (Pinksheets: HDUP), operators of the Canadian Poker Tour (CPT) and Canadian Poker Player Magazine, announced today 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.
The Company also announces that a major television deal is currently being finalized that will allow for broadcast of the event and allow for sponsorship revenues to increase dramatically from previous events. Title and presenting sponsorship packages are currently being offered to a number of the world’s largest online poker companies as well as beer and liquor, airline and other major international sponsors. The Company is also scheduling dates for additional cruises departing from other ports and anticipates ultimately hosting up to 6 cruise events annually.
“The expansion of the poker vacation market has become a major focus for the Company as revenues are maximized in this event structure,” commented HeadsUp President and CEO Kelly B. Kellner. “The event earlier this year was testament to a growing demand in the Canadian and international marketplace and building this proprietary revenue model will be a substantial move to increasing shareholder value.”
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.
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.