PGGG Pegasus Gaming Corp (CE)

Pegasus Gaming Corp. (Pink Sheets:PGGG) (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 two more licensing agreements bringing the total number of licensees to three. The Company has signed the two new licensees for its Sports Wagering, Casino game suite, Horse Wagering, Mobile Casino and P2P multi-players Texas Hold'em Poker Platform. While these two licensees are classified as relatively new entrants as operators pursuant to due diligent performed, evidences do suggest each possesses significant and extensive experience in direct and affiliate marketing within the online gaming sector. With the commencement of major sports this Fall, that include National Football League (NFL), College Football League (CFL), National Hockey League (NHL), Professional Basketball Association (NBA), European Soccer and College Basketball League, these two new licensees will undoubtedly benefit greatly in the 2005/2006 season. "Additional 2 new licenses in the past four weeks further illustrates the potential of our business model catered for Europe," stated Pegasus Gaming President & CEO David Cheng. "The fact that these two licensees chose Pegasus Gaming as their business partners further validates us as a major competitor in the online gaming industry." With the current and continuous success SportingBet (LSE:SBT), World Gaming (OTCBB:WGMGY), Crypyologic (Nasdaq:CRYP), Chimera Technology (Pink Sheets:CNOC) and PartyPoker (OTCBB:PYGMF and LSE:PRTY), 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 (NYSE:NOK), Motorola (NYSE:MOT), Samsung (Nasdaq:SSNLF), Sony Ericsson (Nasdaq:ERIXF). Interested shareholders are encouraged to demo Pegasus Gaming's complete gaming suites by visiting: www.724sports.com. 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. 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.