Casinos.co.uk: Casino News Archive
Wednesday 7th April 2004
AngelCiti’s Online Poker Operations Split
AngelCiti Entertainment, Inc. has announced that its board of directors are unanimously behind the decision to transform its online poker operation into a separate publicly traded company to ’more fully exploit the growth of the industry.’ And it’s little wonder when you consider statistics from PokerPulse.com that the industry has grown over 500% in the last year alone with an estimated $16 billion to be wagered at online poker websites this coming year.
'Management strongly feels that the company is undervalued and is pursuing a strategy to increase value for shareholders,' remarked AngelCiti president George Gutierrez. 'We are working with our investment bankers in attempting to get the new publicly traded online poker company on a more prestigious stock exchange, with a focus on moving that company to the American Stock Exchange. AngelCiti's stake in the online poker company, combined with its ongoing online casino software operations, should materially enhance the company's overall market value and gain greater exposure for the company.'
AngelCiti, through their wholly owned subsidiary, Worldwide Management, provides gaming software to numerous online casinos including SharkCasino.com, SharkPoker.com and TheHouseWins.com, and currently services casinos in English, Spanish, German, Chinese and Japanese.
Source:OnlineCasinoNews
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