PEMBROKE PINES, Fla., August 12, 2003 (PRIMEZONE) -- AngelCiti Entertainment's (OTCBB:AGLC) wholly owned subsidiary Worldwide Management announced that it entered into an agreement to provide software to AmericaDynastyCasino.com, under its "TheHouseWins" program. AngelCiti anticipates that its "TheHouseWins" program alone should contribute more than $1 million to the company's bottom line over the course of the next year.
CasinoDynasty.com is the sister casino of AmericaDynastyCasino.com, which has been operating profitably since 1997, and they will be offering $30 cash bonuses on all sign-ups to their newest casino.
"This is just another step in our overall marketing plan to continue bringing on new users and expand profitability," remarked AngelCiti president George Gutierrez. "We continue to add new software options and build leads and relationships so that we can achieve, and ideally exceed, our growth plans for 2003."
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
Worldwide Management provides gaming software to over a dozen gaming websites. AngelCiti's current websites include AngelCitiCasino.com, VacationCasino.com, StarbrightCasino.com, WelcomeToOurCasino.com, QuePasaCasino.com, UrlaubCasino.com, LuckyDogCasino.com and many others.
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.