|AngelCiti Entertainment 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.'
Bear Stearns and Christiansen Capital Advisors peg industry annual revenue between $4.2 to $4.5 billion for 2003, 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.