AngelCiti buys company from investors

AngelCiti buys company from investors

AngelCiti Entertainment’s management purchased a controlling stake in the company. According to Onlinecasinonews.com, this part of the company was previously owned by an investment company.

“We strongly believe in the growth and development of the company, and have aligned our interests with those of the shareholders. This measure affirms our conviction in the future of this company and we look forward to making it achieve its full potential”, stated George Gutierrez, the AngelCiti Entertainment’s President.

AngelCiti is a holding company, which acquires software providers to online casinos. The company is anticipating further growth in accordance with the predicted growth for the overall gambling industry. The online gaming industry increase estimates US$4.2billion annual revenue in 2004 according to Bearns Stearns’ report. InformaMediaGroup predicts that revenue will reach US$14.5 billion by 2006.