After looking at this company we decided to add it to our limit minder. AGCI may make it up near 1$.
AngelCiti Reports a 28.5 Percent Jump in Third Quarter Results
AngelCiti Entertainment, Inc. (OTCBB:AGCI), an online casino software company, announced today that it had a gross net win of $270,841 and an overall handle of $6,994,216 for the third quarter of 2005 as compared to a gross win of $210,654 and an overall handle of $5,189,873 for the 2nd quarter of 2005.
"We're pleased to again be showing a positive trend from our core operations and fully expect to continue to carry that trend into the fourth quarter," remarked George Gutierrez. "The tide of the meteoric rise of online poker seems to have subsided, resulting in players returning to their old forms of online entertainment, such as online casinos. That, combined with re-focused marketing efforts and new games provided by our software seems to be garnering additional customers and play to our platform."
AngelCiti Updates Shareholders on Midas Stock Dividend
AngelCiti Entertainment, Inc. (OTCBB:AGCI), an online software licensor, has updated shareholders regarding the upcoming dividend of shares in Midas Entertainment, Inc. (Pink Sheets:MDSE), held by the company, to shareholders. The Company has elected to effect the stock dividend to allow shareholders the added benefit of direct share ownership in the meteoric growth of the online poker industry. Midas Entertainment is an online poker software company whose software fuels such sites as CityPoker.com, SkinPoker.com, DesertPoker.com and SharkPoker.com.
Midas recently effected a 20-for-1 forward split of its common shares. The previously announced dividend by AngelCiti was one share of Midas Entertainment for every seven shares of AngelCiti owned by a shareholder. The dividend which will now occur with a record date on the close of trading on October 25, 2005, and a payment date on October 27, 2005, with shareholders receiving 20 shares of Midas for each 7 shares owned in AngelCiti. Subsequent to the dividend AngelCiti will still own approximately 17 million shares in Midas Entertainment. This dividend comes on the heels of recent successful IPOs by PartyPoker.com and EmpirePoker.com which have generated tremendous interest in the financial community for this industry.
AngelCiti's August Results Show Upward Trend
AngelCiti Entertainment's (OTCBB:AGCI) wholly owned subsidiary, Worldwide Management, announced that it had a gross win of more than $106,510 in August 2005 coming on the heels of $100,974 in the month of July noting material improvement already exceeding the gross win of the second quarter of just $206,512. The trend has continued into September as well with $24,500 in gross win through the first week of the month.
"We have regained our focus on core operations after experiencing a very challenging second quarter from an administrative standpoint," remarked George Gutierrez. "We were losing some customers due to the huge growth of online poker, while simultaneously benefiting from that growth via our share ownership in Midas Entertainment, an online poker company. At the same time we were focusing a lot of corporate energy toward the Carib Gaming acquisition. We have now turned the corner back into an area of stronger operations and are looking to have our strongest quarter of the year during what is typically the weakest time of the year for online gaming."
AngelCiti Benefits from Recent Midas Entertainment 20-for-1 Stock Split
AngelCiti Entertainment, Inc. (OTCBB:AGCI) announced that Midas Entertainment, in which it now owns over 67 million shares, completed a 20-for-1 forward split last week and has begun trading under the ticker symbol MDSE (Pink Sheets:MDSE). In connection with the stock split, Midas retired over 10 million common shares (which would have been 200 million post split), thereby bringing AngelCiti's stake back up to approximately 15 percent of Midas Entertainment.
"Midas' stock split provides a unique opportunity insofar as such moves are typically accompanied by increased liquidity and exposure," remarked Midas president George Gutierrez. "We will soon further announce how the Midas stock split will impact AngelCiti's upcoming dividend of Midas shares and expect to also soon provide additional details regarding the acquisition of Carib Gaming."
AngelCiti Corporate Update
AngelCiti Entertainment (OTCBB:AGCI) announced an update to keep shareholders apprised of its ongoing corporate developments.
AngelCiti noted an upturn in its core business in July 2005 with a Net Win of $95,967 as compared $76,140, $59,844, $74,668 the prior 3 months and that upturn seems to be continuing with over $56,000 in Net Win through August 15th. Since inception in May 2002, AngelCiti has had 192,800 downloads of its software and has netted over $4.34 million in Net Win.
AngelCiti also continues to move forward aggressively in its acquisition of the Turks & Caicos' largest gaming company Carib Gaming. AngelCiti acquired a 10% stake on June 13, 2005 and has had meetings in London, New York, Los Angeles and San Diego piquing additional investor interest in completing the acquisition. Management has made completion of acquisition a key priority.
"We are excited by the recent upturn in business, as online casino gaming has been somewhat adversely impacted by the rapid growth of online poker. However, since we continue to own a significant stake in Midas Entertainment (a publicly traded online poker company) we have been able to experience the upside of that component of the industry as well," remarked AngelCiti president George Gutierrez. "We are also in the midst of some additional hires that we feel will begin to impact the corporate bottom line. Finally, we are very excited about the positive response we have received regarding our acquisition of Carib Gaming and look forward to more fully integrating that company within our corporate structure."
A recent Article in the Toronto Globe and Mail estimates that in the past five years, on-line gambling has grown three-fold, into a $12-billion-a-year business and InformaMedia Group, which tracks electronic gambling predicts that online gaming revenue will even reach $14.5 billion by next year.
AngelCiti's wholly owned subsidiary Worldwide Management provides gaming software to online casinos including SharkCasino.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. 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.
CONTACT: AngelCiti Entertainment, Inc.
This is not investment advice.