PHOENIX--(BUSINESS WIRE)--Sept. 7, 2005--Pegasus Gaming Corp. (Pink Sheets: PGGG - News; http://www.PegasusGaming.com), an I-gaming software and e-commerce services company servicing clients from Europe and Africa, is pleased to announce that it has received a great deal of inquires from parties interested in becoming Pegasus licensees. As a result, Pegasus has entered into serious negotiations with several parties for their turnkey online gaming platform.
Negotiations have already commenced with five different parties who are located in South Africa, the United Kingdom and the Netherlands. If Pegasus comes to terms with any of the potential licensees, work will begin behind the scenes to build a customized online gaming Web site, tailored to each licensee`s particular needs.
Online gaming has now become a $10 billion per year industry, with continued growth on the horizon. On June 27, Gibraltar-based Party Gaming, the company that owns PartyPoker.com, jumped onto the London Stock Exchange with a value of $9 billion. Securing a spot in the prestigious FTSE 100 index of the United Kingdom`s top companies, the company`s IPO was the largest on the LSE in five years. More recently, Cassava Enterprises said it will list on the London Stock Exchange, for its online casino 888.com, and is expected to be valued at 700 million pounds ($1.28 billion).
These major online gaming transactions indicate that online gaming remains at the forefront of Internet growth and mass acceptance. Established players in this field stand to reap the huge benefits of this booming sector.
Pegasus Gaming President & CEO David Cheng stated, ``We are happy to announce that we have entered high level negotiations with several very interested parties throughout different parts of the world. The interest generated by our online gaming platforms has thus far been nothing short of remarkable as we continue to field calls and e-mails from potential licensees.`` Cheng added, ``As we begin to bring new licensees online, I believe that we will see even more interest in our products from the online gaming community.``
This press release is available on the company`s official online investor relations site for investor commentary, feedback and questions. Investors are asked to visit Pegasus Gaming`s IR Hub located at http://www.Agoracom.com/IR/Pegasus. Alternatively, investors can e-mail AGORA Investor Relations directly at PGGG@Agoracom.com.
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 Pegasus Gaming Corp.`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.
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Contact:
AGORA Investor Relations
866-234-9934
PGGG@Agoracom.com
http://www.agoracom.com/IR/Pegasus
