Midas Entertainment, Inc. Begins Trading


DAVIE, Fla., Aug. 25, 2004 (PRIMEZONE) -- Midas Entertainment, Inc. (Pink Sheets:MDAS) announced that it has begun publicly trading under the ticker symbol "MDAS". Midas Entertainment is an online poker software company and additional information on the company can be found at www.Midas-Gaming.com. The online poker industry has grown over 700% in the past year according to statistics provided by PokerPulse.com, with billions of dollars to be wagered at online poker websites this year.

"This marks the successful continuation of the vision of establishing the online poker operations as its own separate entity," stated Midas President George Gutierrez. "The company has received outside additional investment as anticipated and has embarked upon an aggressive marketing strategy to gain a share of this rapidly growing industry. We are confident that our business plan will play itself out to the satisfaction of our investors."

Poker's tremendous growth and attraction has been evidenced by such show's as Celebrity Poker and the Travel Channel's 13-week WORLD POKER TOUR series, which was a huge ratings success on television, quickly becoming the highest-rated programming on that network in 2003. Last year's World Series of Poker attracted a record 839 players and $2.5 million was won by a player who qualified by winning an online tournament at PokerStars.com. The 2004 winner of the World Series of Poker walked away with a world record prize of over $5 million, out of $49 million in total prizes, more than doubling the prize values awarded in 2003. The 2004 tournament also logged a record number of players from around the world. Movie star Ben Affleck recently won $356,400 at a Commerce Casino poker tournament that earned him a seat in next year's World Poker Tour Championship.

The Industry

A Bear Stearns report for the industry pegged annual revenue at $4.2 billion for 2003, while Christiansen Capital Advisors predicts a slightly rosier picture pointing to an estimated $4.5 billion in revenue for calendar year 2002, saying 2005 revenue could exceed $10 billion. PokerPulse.com estimates that approximately $46,237,221 is wagered at online poker sites during any given 24-hour period.

The Company

Midas' wholly owned subsidiary Creative Millennium Ventures provides gaming software to online poker sites. More details about these sites will be forthcoming in future press releases.

This news release contains forward-looking statements regarding Midas' 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 Midas disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in Midas' expectations or future events.


            

Contact Data