ANGELCITI PAYS

Brian Cullingworth, INFOPOWA

 

It's taken nine months, but better late....

 

The good news as we were going to press this week was that Angelciti has paid out $28 000 and some change on a handwritten Costa Rican check in Spanish to a player who has been waiting for over nine months after hitting a series of lucrative Royals. 

 

The climbdown by AC was not done elegantly, with unsubstantiated suspicions and allegations that the player had in some unspecified way hacked the RTG software, or that there was a software fault.  Nevertheless, a long and stressful saga has hopefully ended for the aggrieved player, assuming that the check processes without hassles.

 

The player and affiliate communities are now waiting on developments regarding a further circa $20 000 allegedly owed to players who were cheated by an unfair promotion disqualification decision three months ago.  AC has promised to reconsider these ill-advised and unilateral moves and its future credibility, already badly dented by these events will depend on the outcome.

 

Brokers acting for the company continued to peddle its stock despite the bad publicity that has attended this and other disputes over the past weeks.  CEO George Guttierez backed the stock push with a series of media releases on new operations and a share split, all of which included ambitious monetary claims for the industry. 

 

In the past few weeks AC has launched Baby Grand, a new RTG powered casino and this week it publicised The House Wins.com as a new operation under the P2P Be The Dealer private label ownership.

 

Following the 6-1 stock split there are now 198,000,000 shares outstanding instead of the 24,000,000 before the split. The market capitalization has jumped from $49,000,000 pre-split to $93,000,000 post-split, with one observer commenting that the valuation being given is higher than standard by a substantial factor.