PEMBROKE PINES, Fla., Nov. 4, 2003 (PRIMEZONE) -- AngelCiti Entertainment, Inc. (OTCBB:AGEL) announced that it has hired James Hall as the new Director of Marketing. Mr. Hall has vast experience in online and off-line marketing that will be crucial to the continuing growth and expansion of the Company. He will report directly to the president.
Prior to AngelCiti, Mr. Hall was employed by the Bank of Montreal's financial group Burns Fry (now Bank of Montreal's Nesbitt Burns). Mr Hall developed a strong professional marketing communications background while aiding in the development of corporate marketing position strategies for IPO. More recently Mr Hall has worked as a marketing consultant for many online and internet-driven companies, ranging from the LCBO, Waddler Productions, Gate Communications, and Canoe.ca
Mr. Hall is a graduate of the York University business school with both an MBA in finance & marketing, and Honors BA in Econ with a minor in Mathematics. As a facilitator of many "Round-table" discussion Mr. Hall distinguished himself as a local leader in the field of marketing analytics.
"Marketing has become an increasingly important part of our ongoing growth strategy," stated AngelCiti president George Gutierrez. "James' wealth of experience provides new synergies and opportunities that will be a key factor in the continued effective implementation of our long-term business plans."
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 and Chinese.
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.