Canadian Poker Tour (CPT) Signs Major Sponsorship Deal With Poker Tax Rebate (PTR)
Strategic Alliance to be a Major Factor in Increasing Shareholder Value
LAS VEGAS, Jul 5, 2011 (GlobeNewswire via COMTEX) -- HeadsUp Entertainment International Inc. (Pink Sheets:HDUP), operators of the Canadian Poker Tour, Canadian Poker Player Magazine and the Canadian Poker Player Television Network, have come to terms on an exclusive sponsorship agreement with Canadian tax recovery specialists Poker Tax Rebate. The deal will position PTR as presenting sponsor of the CPT's major poker tournament events in Canada and internationally, embed them in all marketing and generate revenues for both companies on an ongoing basis.
Poker players who win money in events in the US, such as the over $5,000,000 won by Canadians so far in this year's World Series of Poker currently taking place in Las Vegas, are subject to a 30% withholding tax as well as State tax visitors must pay on certain game winnings over $1200. PTR prepares all of the necessary documentation required by the government ensuring the Internal Revenue Service refunds all of the taxes our clients are entitled to. For more details go to www.pokertaxrebate.com.
"We are very encouraged with the terms of the agreement we have come to with Poker Tax Rebate," commented HeadsUp President and CEO Kelly B. Kellner. "Through our player database, web and social media infrastructure and television productions, we are very encouraged about the amount of business we will be able to generate together."
Management believes that this relationship, the recently announced strategic marketing alliance with Tropicana Las Vegas and our new television production initiative will be driving forces behind a substantial increase in shareholder value. As reported in a press release on June 17, 2011, the company has generated a major gain in revenues from events held earlier this year and this growth is expected to continue.
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.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: HeadsUp Entertainment International Inc
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