PEMBROKE PINES, Fla., Dec. 2, 2003 (PRIMEZONE) -- AngelCiti Entertainment, Inc. (OTCBB:AGEL) announced that CasinoPaycheck.com is now available in Chinese and Spanish as well as English. Casino Paycheck has been a key driver of players to AngelCiti gaming websites and has been instrumental in the growth of the company. There are now over 1,100 affiliates with membership to Casino Paycheck and they have driven tens of millions of dollars in net handle to AngelCiti websites. The addition of Chinese and Spanish to this vital marketing portal should materially increase drive-through and revenue to AngelCiti websites.
"We have identified the Asian and Spanish language markets as key drivers for the company's future growth," remarked AngelCiti President George Gutierrez, "and this marks a further step in the evolution of our expansion into these high growth markets. Our Chinese marketing has shown great promise to date and this additional measure of support should be a real breakthrough as part of our entry into that market."
The Chinese Market
Existing land-based casinos in China, isolated solely in Macau, generate in excess of $2 billion in revenues per year. Mr. Zongjian Cai, Chief Operating Officer of China-based 17173.com stated, "China is the fastest growing online market in the world...exceeding $1.2 billion U.S. in 2002." That does not even include the lucrative Chinese speaking populations in Hong Kong and Taiwan.
China is on track to become the world's largest Internet market within the next four years. AustralianIT News reported that there were roughly 68 million Internet users in China at the end of June 2003, putting the world's most populous nation second behind the United States in terms of people online. The number of Internet users in China grew by 15.1 percent or 8.9 million people in the first six months of 2003, according to the twice-yearly survey by the China Internet Network Information Centre (CNNIC). According to SINA.com, by 2006, China will make up 53.1% of Asia's Internet Users, 51.2% Internet buyers, and 48.6% of ecommerce, according to IDC.
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.