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Copyright 2005 PrimeZone Media Network,
Inc.
PrimeZone Media Network
January 4, 2005 Tuesday 4:00 AM EST
HEADLINE: AngelCiti Rings Up More than $36 Million
in Net Handle for 2004
BODY:
AngelCiti Entertainment's (OTCBB:AGCI)
wholly owned subsidiary, Worldwide Management, announced that
it had a gross win of more than $1.43 million in 2004 on a net
handle of more than $36.35 million.
"The results from casino software operations
are underscored by our decision to spin off the online poker operations
which has now resulted in AngelCiti owning in excess of $20 million
worth of shares in Midas Entertainment (Pink Sheets:MDAS),"
remarked AngelCiti president George Gutierrez. "The online
gaming market continues to expand worldwide and we intend on continuing
to pursue these major and dramatic opportunities afforded by this
growth."
The Industry
A Bear Stearns report for the industry pegs
annual revenue at $4.2 billion for 2003, while Christiansen Capital
Advisors predicts a slightly more rosy picture pointing to an
estimated $4.5 billion in revenue for calendar year 2002, saying
2005 revenue could exceed $10 billion. InformaMedia Group, which
tracks electronic gambling predicts that online gaming revenue
will even reach $14.5 billion by 2006.
The Company
AngelCiti's wholly owned subsidiary Worldwide
Management provides gaming software to numerous online casinos
including SharkCasino.com, SharkPoker.com and TheHouseWins.com,
and currently services casinos in English, Spanish, German, Chinese
and Japanese.
This news release contains forward-looking
statements regarding AngelCiti's business strategies and future
plans of operations. Forward-looking statements involve known
and unknown risk 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 AngelCiti disclaims any obligation to provide public updates,
revisions or amendments to any forward-looking statements made
herein to reflect changes in AngelCiti's 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:
AngelCiti Entertainment, Inc.
Evelyn Fallas
(800) 908-9574
Evelyn@angelciti.com
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