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AngelCiti Entertainment Inc.(fka AGCI) RSS Feed

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AngelCiti Entertainment is a Publicly Traded company (OTCBB:AGCI) acquiring interests in companies that provide software to the online gaming industry. The online gambling market has been booming since it's inception and continues to expand at a torrid pace. AngelCiti management intends on using its expertise to sign up additional online casinos and to roll-up the interests of numerous other successful online gaming software companies to create a veritable online casino software powerhouse that will perform extremely well in its own right and be a likely target for future acquisition by a large land based casino seeking a quick entry into the industry. AngelCiti will also explore other complimentary acquisitions of land based casinos and gaming portals that will provide synergies to the overall operations of the company. The Online Gambling Market It is estimated that in excess of a trillion dollars is wagered annually worldwide on the various forms of gambling. The growth of the Internet has far exceeded the growth of any other communication medium in the 20th century. In just under four years the Internet has reached penetration rates that took the television 13 years to reach and the radio over 30 years. Internet gambling has grown from 30 sites and bets of $17 million in 1996 to approximately $3 billion in wagers in the year 2000 according to the Center for Policy Initiatives. Bear Stearns estimates anticipates an estimated $6 billion in revenues by U.S. wagerers alone by 2003. The global picture for online betting is much brighter. Research firm Datamonitor forecasts that revenues from gambling will soar to $20.8 billion by 2005. The National Gambling Impact Study Commission, a congressionally chartered organization, estimated in 1997 that there were 6.9 million potential internet gamblers and revenue of $300 million. According to the International Data Corporation, the number of Internet users is projected to grow from 142 million people at the end of 1998 to 502 million people in 2002. Within a year the potential pool of users had risen to 14.5 million users and revenue of $651 million. A year 2000 study by the Pew Internet and American Life Project found that 4.5 million Americans have gambled online or played an online lottery.While the U.S. has been the dominant market for the Internet to date, statistics from Nua Ltd. indicate that approximately 25 percent of Internet users are from Europe and 15 percent are from the Asia Pacific. Estats, Inc., on online provider and assembler of the Internet research, believes that the major international growth areas will be in Europe, led by Germany, the UK, Sweden, France, Asia/Pacific Rim, especially Japan, Australia, Taiwan, and New Zealand.Western Europe, with 14 million people online, accounting for 18% of the world's total, represents the next big growth opportunity of the net. Asia, led by Japan, is a booming market for online users, e-commerce and advertising dollars. Estats, Inc. further estimates that Asia and the Pacific Rim region hold 8 million of the worlds net users, nearly 11% of the world's total. According to Paul Budde Communications the online population in Asia, estimated at 5 to 10 million, comprises only 0.4% of the total population in that region. Due to the population of Asia versus its lack of online household penetration, the long-term potential for growth is astronomical. The Baker Report was quoted as saying, "We believe our projections of Internet gambling revenues of US$100 to US$200 billion domestically and US$200 to US$400 billion in the rest of the world by 2005 is reasonable, even conservative." A recent October 2001 press release put out by Aspinalls, a leading online gambling operator, indicated that international online gambling revenues were set to grow from $6.6 billion in 2001 to $20.8 billion in 2005, based upon an extensive research report put out by Greenfield Online. It also predicted that the number of online gamblers in Europe and the US will grow from the current 2.9 million in 2001 to 7.4 million during that same time frame. The survey also demonstrated that just under two thirds of the 1000 respondents (63%) had already visited an online gambling related site - lottery, bingo, sports betting, casino - with 29% having specifically visited an online casino in the last year. 13% had wagered for real. http://www.angelciti.com/ Chart- Weekly - 1 Year Daily - 3 months
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