PEMBROKE PINES, Fla., August 21, 2003 (PRIMEZONE) -- AngelCiti Entertainment, Inc.'s (OTCBB:AGLC) wholly owned subsidiary Worldwide Management announced that its licensee, SharkCasino.com, was voted best online casino for 2003 by Insider's Betting Digest.
"This is another feather in our cap," noted AngelCiti president George Gutierrez. "This recognition for a major licensee, should help drive additional traffic and revenue both to their site and our company. Moreover, this type of award continues to make management's job easier in fueling corporate 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 and TheHouseWins.com and currently services casinos in English, Spanish, German and Chinese.
This news release contains forward-looking statements regarding AngelCiti's business strategies, financial projections 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, capital market, political and regulatory uncertainties, the need to raise additional capital for growth, expansion and operations 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.