PEMBROKE PINES, Fla., May 31, 2005 (PRIMEZONE) -- AngelCiti Entertainment, Inc. (OTCBB:AGCI), an online casino software company, announced today that it has reached another corporate milestone in surpassing $130 million wagered using the company's software since inception 3 years ago.
AngelCiti President George Gutierrez stated, "As we move forward with many of the corporative initiatives currently in motion, we feel it is important to occasionally take a step back and take note of our successful accomplishments over the past few years. We anticipate having further news regarding some of the ongoing events in the near future and look forward to sharing that with investors as they reach fruition."
About AngelCiti Entertainment, Inc.
AngelCiti Entertainment is focused on acquiring interests in companies that provide software to the online gaming industry. The online gambling market has been booming since its inception and continues to expand at a rapid pace. Industry experts estimate that total gaming revenues could grow from $4.5 billion in 2002 to more than $10 billion by 2005 (source: Christiansen Capital Advisors). AngelCiti's wholly owned subsidiary Worldwide Management provides gaming software to online casinos including SharkCasino.com, and currently services casinos in English, Spanish, German, and Chinese. For more information, visit http://www.angelciti.com . AngelCiti owns 3.1 million shares in Midas Entertainment, Inc. (Pink Sheets:MDAS), a publicly traded online poker software company. Recent estimates from industry insider PokerPulse.com note that over $200 million is wagered at online poker sites daily.
This news release contains forward-looking statements regarding AngelCiti's 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 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 the amount wagered in this press release is presented as measures of performance for the company that is different from those presented in the income statement in accordance with Regulation G promulgated by the Securities and Exchange Commission and is not to be considered as revenue or a GAAP-related financial disclosure criteria.