PHOENIX, AZ--(MARKET WIRE)--Oct 7, 2005 -- Pegasus Gaming Corp. (Other OTC:PGGG.PK - 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 completed a lottery licensing agreement with the International Lottery in Liechtenstein Foundation (ILLF).
Under the terms of the agreement, Pegasus and its licensees will become authorized re-sellers for the government run National Lottery, and will share in a percentage of the revenues based upon a sliding scale. As Pegasus signs on more licensees, it is anticipated that lottery sales will increase respectively, thus leading to a higher percentage share of the lottery revenues.
This completed license for the lottery platform is the second license in the last 2 weeks that Pegasus Gaming has completed, following a thorough due diligent process completed on the company just days ago. Implementation is already underway between the two technical development departments to deploy this new highly profitable venture into production phase.
ILLF is a charitable Foundation that is authorized and controlled by the Liechtenstein government for the purpose of operating a lottery in Liechtenstein.
``A second license in a matter of two weeks further illustrates the potential of our product in Europe,`` stated Pegasus Gaming President & CEO David Cheng. ``The fact that a government-run lottery has chosen to do business with Pegasus Gaming further validates us as a player on the world stage.``
With the current and continuous success of SportingBet, World Gaming, Crypyologic, Chimera Technology and PartyPoker, Pegasus is certainly well positioned to capitalize on its future growth. Our state-of-the-art mobile casino platforms are compatible with a wide array of mobile phones, including Nokia, Motorola, Samsung and Sony Ericsson.
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.
Contact:
Contact:
AGORA Investor Relations
888-696-1853
PGGG@Agoracom.com
http://www.agoracom.com/IR/Pegasus
