AngelCiti Second Quarter Results up over 24% at $15.9 Million

Second Quarter handle was up 24.3% at $15,966,409 and Net Win was up 9.4% at $370,614, as compared to AngelCiti's First Quarter.

Pembroke Pines, FL (PRWEB) July 20, 2003 -- AngelCiti Entertainment (OTCBB:AGLC) announced double-digit increases in net handle and a firm increase in net win for second quarter 2003 as compared to its strong first quarter of 2003, through ownership of its wholly owned subsidiary Worldwide Management. Second Quarter handle was up 24.3% at $15,966,409 and net win was up 9.4% at $370,614, as compared to AngelCiti's First Quarter.

"Our results show that we continue to stay focused on day-to-day operations even as management actively pursues growth and funding opportunities," remarked AngelCiti president George Gutierrez. "There are many deals in the pipeline that will only help to further expand upon our operations and shareholders should soon expect further news in that regard."

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

Worldwide Management provides gaming software to over a dozen gaming websites. AngelCiti's current websites include SharkCasino.com, TheHouseWins.com, AngelCitiCasino.com, VacationCasino.com, StarbrightCasino.com, WelcomeToOurCasino.com, QuePasaCasino.com, UrlaubCasino.com LuckyDogCasino.com and many others.    

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.
     Evelyn Fallas 800/908-9574
     Evelyn@angelciti.com