Face Up Entertainment Group, Inc. Sees Its Subscription Based Model as a Solution to Monetization Issues Challenging the Social
21 Février 2013 - 2:30PM
Face Up Entertainment Group, Inc. (OTCBB:FUEG), a Reality Gaming
Social Network company, today announced that according
to a report released by the Casual Games Association
(http://www.industrygamers.com/news/social-games-market-to-hit-864-billion-in-2014/),
monetization remains a critical issue. According to the report,
monetization vs. virtual goods remains the critical issue for the
social gaming industry.
Face Up offers what it believes is the first online social
gaming product which will deliver video, audio and texting
functionality along with the ability to allow users to create their
own private tables and host their own private tournaments. This
same platform will be available for many other online games.
Commenting on the report, Felix Elinson, the Company's CEO
stated "We believe that our subscription based model, where gold
members will pay a monthly tournament entrance fee, is timely
and addresses a critical sector of the social gaming marketplace.
Moreover, our own studies have shown that conversion rates from
free play to members willing to pay a monthly fee is approximately
8%. We believe that with adequate funding and advertising that we
can achieve these numbers on a sustained basis."
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.
The Face Up Entertainment Group, Inc. logo is available
at http://www.globenewswire.com/newsroom/prs/?pkgid=14445
Forward-Looking Statement
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, goals, strategies, future
events or performance, and underlying assumptions and other
statements, which are other than statements of historical facts.
The words "believe," "timely" "can achieve," "sustained",
right space," "may," "sustained basis," "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.
CONTACT: ir@gamefacegaming.com
Tel: 516 303 8100
Face Up Entertainment (CE) (USOTC:FUEG)
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