PEMBROKE PINES, Fla., Feb. 16 /PRNewswire-FirstCall/ -- AngelCiti Entertainment, Inc. (BULLETIN BOARD: AGCI) , an online casino software licensor, announced today that it plans on moving forward with an application to the Nasdaq(R) or AMEX(R) exchanges upon the successful completion of its merger with Carib Gaming, the largest land-based gaming company on the Turks and Caicos Islands.
AngelCiti President George Gutierrez stated, "Moving to a major national exchange is the next logical step for our company as we meet the shareholder''s equity and market valuation requirements set by the Nasdaq and AMEX. This move will fuel both the future growth of the Company, enhance shareholder value and increase our liquidity and visibility."
Gutierrez continued, "This application is timed with our merger with Carib Gaming. Carib Gaming owns and operates slot machine locations in several bars, restaurants and clubs. During the past year, Carib acquired the Islands'' second-largest gaming operator, further cementing its position as the number-one gaming company on the Islands. AngelCiti''s acquisition of Carib Gaming will provide the Company the unique opportunity to leverage the benefits of online and land-based gaming to one company."
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 services casinos in English, Spanish, German, Chinese and Japanese. For more information, visit http://www.angelciti.com/ . AngelCiti spun off its online poker operations in July 2004 and owns more than 4.6 million shares of Midas Entertainment, with a current market value of over $30 million.
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 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.
OTC Financial Network Rick McCaffrey, Investor Relations 781-444-6100 x625 rick@otcfn.com AngelCiti Entertainment, Inc. Evelyn Fallas 800-908-9574 Evelyn@angelciti.com
AngelCiti Entertainment, Inc.
AngelCiti President George Gutierrez stated, "Moving to a major national exchange is the next logical step for our company as we meet the shareholder''s equity and market valuation requirements set by the Nasdaq and AMEX. This move will fuel both the future growth of the Company, enhance shareholder value and increase our liquidity and visibility."
Gutierrez continued, "This application is timed with our merger with Carib Gaming. Carib Gaming owns and operates slot machine locations in several bars, restaurants and clubs. During the past year, Carib acquired the Islands'' second-largest gaming operator, further cementing its position as the number-one gaming company on the Islands. AngelCiti''s acquisition of Carib Gaming will provide the Company the unique opportunity to leverage the benefits of online and land-based gaming to one company."
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 services casinos in English, Spanish, German, Chinese and Japanese. For more information, visit http://www.angelciti.com/ . AngelCiti spun off its online poker operations in July 2004 and owns more than 4.6 million shares of Midas Entertainment, with a current market value of over $30 million.
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 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.
OTC Financial Network Rick McCaffrey, Investor Relations 781-444-6100 x625 rick@otcfn.com AngelCiti Entertainment, Inc. Evelyn Fallas 800-908-9574 Evelyn@angelciti.com
AngelCiti Entertainment, Inc.
