Pegasus Gaming Corp. (Pink Sheets: PGGG) is an Arizona-based I-gaming software and e-commerce services company servicing clients from Europe and <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" ?>Africa. The company licenses a suite of online products, including online bingo, casino, sports book, and pari-mutuel 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. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" ?>

In only a few short years, online gambling has become one of the most popular and successful business ventures on the Internet. Despite skepticism from many in business, and the computer and gaming industries, Internet casinos have proven successful and have gained wide acceptance from consumers.

With more and more global governmental regulators granting approvals to conduct Internet Gaming Business in their countries, there is no doubt that there will be a major revenue boost for companies well positioned in the industry in the very near future. Some of these countries which include Australia, Philippine, United Kingdom, Grenada, Antigua, Costa Rica and now THE STATE OF NEVADA IN THE UNITED STATES OF AMERICA, have formally approve the existence of Internet Gaming Operations in their countries and at the same time realizing a huge tax revenue resulting from these operations.

Through the acquisition of a Master License from Chimera technology Corp. Pegasus is in the position to offer fully Turn Key i-Gaming Platforms in the European and African continents, world class Sports Book wagering platform, full line of online Internet casino games suite, Horse Betting platform, Mobile Gaming, P2P Poker Platform as well as a state of the art "BIRDS EYE" System, a complete back office management system that operate the entire e-Commerce transactions, gaming websites, accounting system and licensees` management/reporting platform that is second to none, which will give Pegasus an opportunity to establish a leadership position in this enormous market. The Pegasus technology supports colorful, entertaining, and realistic i-Gaming games that will appeal to both experienced players, and people new to the game. The technology, in concert with our marketing efforts, will enable Pegasus to capture a major share of this market in a very short period of time.

Due to the adaptability of our software, which can be operated under various different Internet websites, Pegasus`s business model is to license qualified operators with its proprietary software to operate their own private label Internet Gaming Sites. In addition to licensing its software to these operators, Pegasus will also utilize its "BIRDS EYE" System to manage its licensees` websites &accounting back-offices, freeing these operators from spending a huge amount of funds in seeking for suitable locations to set up the facility to house this horrendously expensive hardware to run the i-Gaming software. Pegasus`s goal is to provide TRUE TURNKEY OPERATIONS to these operators and further managing their back office utilizing its "BIRDS EYE" System, in its data facility and providing real time statistic and daily revenue reports to its operators.

Pegasus will collect a one-time administration fees and ongoing royalties from these licensees on a monthly basis. To further enhance the success of these licensees, Pegasus has selected x-Generation Marketing Inc., an Internet marketing company that possesses years of experience in the Internet marketing sector, to exclusively help its licensees getting off the launch pad by providing their expertise to device proven marketing campaigns to lead its licensees to profitability in the shortest time possible. Pegasus revenue will greatly depend on the number of licensees it selected and awarded the license to utilize its software as well as the revenue generated by these-licensees.

Pegasus will continue to seek and acquire as well as develop selected technologies that will further enhance its licensees` revenue thus increasing its shareholders value on an ongoing basis. Pegasus believes its corporate direction is very much in focus to becoming the leading technology licensing, Management Corporation in the industries.