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Mary Warning: Avoid Angelciti! Running out of money.

Discussion in 'Online Casinos' started by mary, Oct 10, 2002.

    Oct 10, 2002
  1. mary

    mary Dormant account

    This is from their SEC filing. You can find it You must register/login in order to see the link.

    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.
     
  2. Oct 10, 2002
  3. dalzilla

    dalzilla Dormant account

    Occupation:
    Purchasing manager
    Location:
    Known center of universe-Texas!
    Holy cow!
    I've never read a statement in an SEC filing that is that blunt. Now I gotta go read it for myself.
     
  4. Oct 10, 2002
  5. dave_r

    dave_r Dormant account

    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.
     
  6. Oct 10, 2002
  7. jetset

    jetset Ueber Meister CAG

    Occupation:
    Senior Partner, InfoPowa News Service
    Location:
    Earth
    I guess the investor community will have the final say in that - this filing suggests that they have cashflow hassles.
     
  8. Oct 11, 2002
  9. portia

    portia Dormant account

    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)
     
  10. Jan 29, 2003
  11. imswhite

    imswhite Dormant account

    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
     
  12. Jan 29, 2003
  13. dave_r

    dave_r Dormant account

    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 You must register/login in order to see the link., 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.
     

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