VALLEY STREAM, N.Y., April 4, 2013 (GLOBE NEWSWIRE) -- Face Up Entertainment Group, Inc. (OTCBB:FUEG), a Reality Gaming Social Network company, today announced that it has been in discussions with a handful of European companies interested in bringing Face Up Gaming's Audio/Video enabled and rake ready poker platform to Europe.
Yesterday, Zynga announced that it will roll out two real-money gambling titles, ZyngaPlusPoker and ZyngaPlusCasino, in the U.K. later this week and that it has entered into an agreement with U.K. firm bwin.party. Face Up Entertainment Group has long been waiting to leverage the rake capabilities of its social subscription poker model platform.
"The agreement between Zynga and Bwin, announced only yesterday, validates the importance of delivering more than just the ability to wager on-line. Gaming companies are realizing the value of aligning social gaming and their communities along with a safe environment to participate in wager based poker play. Our platform was designed with this in mind. We are ready to take on this challenge and opportunity, as it has been an integral part of our long term strategy from day one of our development three years ago," stated Felix Elinson, the Company's CEO.
"Zynga is a well established and well funded company but we believe that with adequate funding, we can compete in this market. Our platform is robust," added Mr. Elinson.
The Company's game proprietary platform (www.FaceUpGaming.com) is being used in creating a vast global gaming network consisting of games from every region of the globe, supporting native languages as well as cross language functionality. Logical additions to the platform include global staples in gaming such as Backgammon, Poker, Chess and Checkers and many others. Face Up Gaming is a legal non-wagering online gaming platform (www.FaceUpGaming.com).
Face Up Entertainment Group, Inc. is committed to responsible game-play and is not a gambling site. "Our goal is to maintain the thrill of online games while keeping it safe for everyone. Our social networking functionality provides the user base with the ability to grow their circle of friends beyond those they physically reach day to day. Our users sit down to play a game and more often than not leave making a connection with a stranger which is then maintained via our social network functionalities," stated Mr. Elinson.
Matters discussed in this release may constitute forward-looking statements. The U.S. Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation.
Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, validates, strategies, integral or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The words "robust," "we believe," "we can compete," "excited," "ready," "challenge," "opportunity," "plan," "already enjoys," "may," "should," "will make" and similar expressions identify forward-looking statements.
The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.
Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include our ability to identify and in-license and the ability to adequately fund such targeted acquisitions. Risks and uncertainties are further described in reports filed by Face Up Entertainment Group, Inc. with the U.S. Securities and Exchange Commission.
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Source:Face Up Entertainment Group, Inc.