PHOENIX--(BUSINESS WIRE)--July 13, 2005--Pegasus Gaming Corp. (``Pegasus``) (Pink Sheets:PGGG - News) is pleased to announce that the company has entered into a letter of intent for a European operator to acquire Pegasus` Turn-Key I-gaming operating licenses. The group has received a trial package of the I-gaming operating system and platforms and will initiate testing of the turn-key components to determine the feasibility of integrating these components into their existing platforms. The testing process is expected to be completed by August 15, 2005. The prospective new licensee has completed discussions with Pegasus` senior operations staff and management from Costa Rica and has received favorable opinions as to the legalities involved in operating online gaming through the Internet in their region, from their local attorneys.
Company President David Cheng commented, ``The new generation of Internet operators is very sophisticated as to the use of the Internet to provide a viable robust business operation. These young entrepreneurs have been somewhat challenging for us in terms of meeting their branding and customizing requirements, but I am very pleased to report that staff and management were able to confirm that any system modifications, including software updates, would be provided on demand. Our unique Turn-Key I-gaming platforms and applications, as they are now marketed, are among the best applications available in the market space today, and we are well able to provide the technical and system modifications to meet the needs of the most discriminating of clients.``
About Pegasus Gaming Corp.
Pegasus Gaming Corp. is an Arizona-based I-gaming software and e-commerce services company servicing clients from Europe and Africa. The company licenses a suite of online products, including casino, sports betting, and pari-mutuel horse betting. In addition, the company provides a state-of-the-art complete back-office management system that operates all e-commerce transactions, gaming Web sites, accounting system and licensees` management/reporting platform.
To view the corporate presentation with sound, please click on the following link: www.pegasusgaming.com/slide.pps
The above statements in regard to Pegasus, which are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Chimera`s beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that the actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties, such as technological, legislative, corporate, financial and marketplace changes.
Contact:
Pegasus Gaming Corp.
David Cheng, 440-445-4336
info@pegasusgaming.com
