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Pegasus Gaming Garners Significant Attention from Potential Licensees and Investors

PHOENIX, Jul 18, 2005 -- 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 received a great deal of inquiries from parties interested in becoming Pegasus licensees. In addition, the Pegasus investor relations call center was well received by investors as it handled dozens of inquiries from both current and prospective shareholders.

Pegasus Gaming received a record number of inquiries (18) during the past week from parties that were interested in licensing Pegasus' Turn Key I-gaming platforms which consist of sports betting, horse race wagering and a full suite of online casino games which includes the incredibly popular Texas Hold'em Poker. These inquiries are in addition to several other firm commitments from interested parties in Europe which Pegasus is currently working on.

Additionally, the Pegasus investor relations program being spearheaded by AGORA Investor Relations has already met with great success as the investor relations call center fielded dozens of calls from both potential and prospective investors who were interested in learning more about Pegasus Gaming.

Pegasus Gaming President & CEO, David Cheng, stated, "Thus far Pegasus Gaming has been very well received by the online gaming community as we offer a complete online suite of gaming platforms based upon superior technology and competitive price points. The inquiries that we received from potential licensees last week alone were overwhelming and serve as a great indication as to the level of awareness that Pegasus has already achieved in the industry." Cheng went on to say, "Our investor relations program being run by AGORA Investor Relations is also off to a great start. We strongly believe that our shareholders are the lifeblood of Pegasus, and as such, we hired one of the top outsourced investor relations firms to ensure open lines of communication between Pegasus and its shareholders."

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 systems and licensees' management/reporting platform.

To view the corporate presentation with sound, please click on the following link: www.pegasusgaming.com/slide.pps.

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.

SOURCE: Pegasus Gaming Corp.

AGORA Investor Relations
866-234-9934
PGGG@Agoracom.com
http://www.agoracom.com/IR/Pegasus