PEMBROKE PINES, Fla., June 9, 2005 (PRIMEZONE) -- AngelCiti Entertainment, Inc. (OTCBB:AGCI) announced that it will be attending the upcoming Global Interactive Gaming Summit & Expo (GIGSE) 2005 in Montreal, Canada June 13th-15th 2005. Issues on the agenda include advanced payment processing solutions, insights into opportunities and risks in the Chinese online gaming markets, and the latest advances in mobile gaming.
"GIGSE is a signature event and we feel better prepared than ever to benefit from the exposure and opportunities provided by this event," remarked AngelCiti president George Gutierrez. "With our intended leap into land-based gaming the company now has as much to teach as it does to learn as one of the few companies seeking to take full advantage of the synergies provided by both sources of worldwide entertainment. Recent announcements by Partygaming (parent of Party Poker) and other large poker sites, exploring multi-billion dollar public offerings has put this industry at the forefront of the capital markets. As a leader in this area we seek to continue to grow the company and seek out additional opportunities such as those that can only be discovered at such marquee events as GIGSE."
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.