Gambling.co.uk: Gambling News Archive

Research Report Details AngelCiti’s Near-Term Price Target

Market Advisors Research issues report on online casino licensor

Wednesday 2nd March 2005



AngelCiti Entertainment, an online software licensor focused on acquiring interests in companies that provide software to the online gaming industry, has benefited from the growth in the online gambling market since its inception and now expects a near-term price target of $4.65.

The Report continues, “The consensus among industry experts is that online gaming is a burgeoning niche that will generate billions of dollars annually; possibly even surpassing sales of traditional CD-based games, which currently bring in nearly $7 billion per year.'

In July of last year, AngelCiti's online poker operations were spun off into their subsidiary, Midas. The Report explains, 'In its first three months of operation, Midas took in over $30 million worth of bets, processed more than $2.47 million in transactions and generated in excess of $556,000 in revenue. This is a growth stock in its infancy stages and the company has little or no restrictions on the opportunities in the gaming industry that present themselves.'




Source: OnlineCasinoNews