PEMBROKE PINES, Fla., Jan. 28, 2004 (PRIMEZONE) -- AngelCiti Entertainment (OTCBB:AGEL) is pleased to announce that the shares of the Company are now also trading on the Frankfurt Stock Exchange under the ticker symbol "AKI" having been listed there by the noted and respected brokerage firm of Berliner Freiverkehr.
"We have been developing an international footprint in the growth of the company and this is just a further step in expanding AngelCiti's international presence," noted AngelCiti president George Gutierrez. "This move helps to expand our investor base, increases liquidity in the trading of the company's shares and expands our mandate as an international company. Towards that end, management is also considering a name change to AngelCiti Entertainment International, which would lead to a change in the company's CUSIP number."
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, Chinese and Japanese.
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.