Pegasus Gaming Corp. (PGGG)

[lady*b]

PGGG NEWS
Pegasus to Offer P2P Multi Table Poker to Its Licensees
Tuesday July 12, 9:55 am ET


PHOENIX--(BUSINESS WIRE)--July 12, 2005--Pegasus Gaming Corp. ("Pegasus") (Pink Sheets:PGGG - News; http://www.pegasusgaming.com), is pleased to announce that the company has completed testing and integration of a P2P Multi Table suite of Poker card games. The games offered include Texas Hold'em, Omaha, Stud and several games which are offered in Asian markets. These products are to be added to the suite of Internet Casino Platforms and offered as an optional addition to all licensees. In addition, the licensee will be able to run tournaments and offer specific incentives to players as part of the customization of all products to their operations.
Mr. David Cheng-President and CEO stated, "With the addition of the optional P2P Multi-Players Poker platform to our licensees, the incredible popularity of Multi-Players Poker and other card games can effectively be marketed by our licensees. We would expect that with suitable marketing of this unique game suite, significant business increases will be achievable to add to the already high revenue potential of our gaming platform."

Elsewhere in the gaming sector, with the recent successful IPO in June, by Party Gaming, operating www.PartyPoker.com, on the AIM Exchange in the United Kingdom, valuating Party Gaming at almost $10 Billion US, making Party Gaming the largest IPO since 2001 in the UK market, there is no doubt the investment community is taking notice of the explosive online gaming sector.

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 online bingo, casino, sports book, and pari-mutuel 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.

To obtain further information on Pegasus Gaming Corp., please visit the corporate web site @ www.pegasusgaming.com .

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 Chimera'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.



--------------------------------------------------------------------------------
Contact:
Pegasus Gaming Corp
David Cheng, 440-445-4336



--------------------------------------------------------------------------------
Source: Pegasus Gaming Corp.