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Copyright 2004 PrimeZone Media Network, Inc.
PrimeZone Media Network
October 5, 2004 Tuesday 10:40 AM EST
HEADLINE: Midas Entertainment Processes Over
$800,000 in Transactions in Its First Full Month of Operations
BODY:
Midas Entertainment, Inc. (Pink Sheets:MDAS)
announced that it has processed $849,535 in transactions and generated
in excess of $180,000 in revenue during the month of September,
the company's first full month of operations.
"The results of the first full month of
operations headily exceeded our expectations," remarked Midas
President George Gutierrez. "The online-poker
market is red hot and the tremendous success of Midas out of the
gate is a testament to our strategy in spinning off the online-poker
company into its own separate operations. We are excited about
the rapid start and look forward to continuing to grow the company."
The Industry
A Bear Stearns report for the industry pegged
annual revenue at $4.2 billion for 2003, while Christiansen Capital
Advisors predicts a slightly rosier picture pointing to an estimated
$4.5 billion in revenue for calendar year 2002, saying
2005 revenue could exceed $10 billion. PokerPulse.com estimates
that over $100 million is wagered at online
poker sites during any given 24-hour period.
The Company
Midas' wholly-owned subsidiary, Creative Millenium
Ventures, provides gaming software to online-poker sites including
CityPoker.com and SharkPoker.com.
This news release contains forward-looking
statements regarding Midas'
business strategies and future plans of operations. Forward-looking
statements involve known and unknown risks and uncertainties.
The company's risks and uncertainties include: intense price competition,
economic, political and regulatory uncertainties, the need to
raise additional capital for growth and expansion and its reliance
on the Internet as a means for promoting the software it sublicenses.
The forward-looking statements contained in this news release
speak only as of the date hereof and Midas disclaims any obligation
to provide public updates, revisions or amendments to any forward-looking
statements made herein to reflect changes in Midas' expectations
or future events. The representations of net handle and gross
net win in this press release are presented as measures of performance
for the company that are different from those presented in the
income statement in accordance with Regulation G promulgated by
the Securities and Exchange Commission and are not to be considered
as revenue or a GAAP related financial disclosure criteria.
CONTACT:
Midas Entertainment, Inc.
Gabriella Jarquin
(800) 765-3781
Gabriela@Midas-Gaming.com
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