Mary Warning: Avoid Angelciti! Running out of money.

[mary]

This is from their SEC filing. You can find it

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We believe that
our cash on hand will be sufficient to sustain our operations for the next two
to three months. Our offering continues so that we may have sufficient cash flow
to sustain our operations beyond
this two to three month period. However, we cannot be certain that we will ever
attain profitability or raise sufficient proceeds to remain in business.

 

[dalzilla]

Holy cow!
I've never read a statement in an SEC filing that is that blunt. Now I gotta go read it for myself.

 

[dave_r]

Good find, MARY - but I will be very, very sad indeed if this place goes out of business, as this is probably my ALL TIME FAVORITE RTG SITE.
They pay faster than just about anyone else in the industry; in fact I just won $1000 here and got paid in 6 HOURS, and no I'm not making this up. Secondly, both Ramon and Larry have been extremely helpful, anytime I needed it, so much so that I have gone out of my way to recommend the casino to everyone around, as I've seen many sites come and go, but rarely have ever gotten the courteous and professional service that I got here, as well as the excellent phone support.

I read the August 14 SEC filing completely, and it said they were able to come up with 284K. I sincerely hope they survive and thrive. The internet needs more sites with service as good as this one.

They are doing several things right. First off, they are not offering unrealistic bonuses to anyone. All thier bonuses are 10x deposit to receive bonus and then 10x D+B to cashout.

Secondly they are offering the buy 5 receive 25 deal for new players of welcometoourcasino.com.
This is a good promo to bring people in the door.
Perhaps slightly too generous, but once people experience the immediate cashins, they'll wanna use thier service all the time.

Thirdly they are very responsive via email and phone to customer comments.

Remember this is a new casino that started in April. Apparently they paid 50K for the RTG software + another 40K is owed to RTG. (I had no idea RTG software was so cheap to license).

My opinion is this is a recipe for success. I will continue to deposit here on a regular basis. Its one of a handfull I don't use for bonus hunting.

Give them a chance to get off the ground.

 

[jetset]

I guess the investor community will have the final say in that - this filing suggests that they have cashflow hassles.

 

[portia]

Mary : There was a Statement in PlayStar's Last Annual report just like that. And they closed in the month that the report said there funds would sustain them to.

(pardon the grammar)

 

[imswhite]

I'm with you Dave...

I like Welcome to Our Casino and hope that they stay open... and keep their RTG games and pay tables. I don't know anywhere else that has full pay All American video poker.

Steve

 

[dave_r]

Well, recently I have lost $5,000 playing
the 100.96% (25cent) Loose Dueces Video Poker here.

I used the strategy listed on Croupier's

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, which is the optimal strategy.

I can't believe that out of 63,000 hands I haven't hit the 4 dueces one time. My luck has been absolutely horrid, and although the management at Angelciti has been fantastic at giving me loyalty bonuses, I have decided to stop playing, except for the 5 cent game.

Loose Duece is extremely volatile, and if you don't get the 4 dueces or royal at some point, you will go bankrupt, despite it being such a good game.

My experience here serves as a wake up call to me. I have started 2003 in the red, and it will take a lot of bonus offers to make up for this.