SOURCE: WGL Entertainment Holdings, Inc.

March 20, 2007 07:00 ET

WGL Entertainment Holdings Projects Revenue for 2007

ORLANDO, FL -- (MARKET WIRE) -- March 20, 2007 -- WGL Entertainment Holdings, Inc. (OTCBB: WGLT) announced today that its reality show, the WGL Million Dollar Shootout (MDSO), and two additional entertainment projects it plans to acquire, have the potential of producing $15 to $22 million in revenue for fiscal 2007 which ends December 31, 2007. This revenue includes licensing rights worldwide, MDSO format rights for Europe & Asia and Sponsorship revenues.

"We are now in a position to take full advantage of the MDSO franchise with both broadcasters and sponsors on a worldwide level and package two new exciting sports/entertainment series under our subsidiary WGL Entertainment," said Mike Pagnano, CEO, WGL Entertainment Holdings, Inc. "The last three quarters of 2007 will be the best in company history and allow WGL Entertainment Holdings, Inc. to turn a handsome profit and be debt free." Revenues will also be used to repurchase company stock and produce the "Hot Days & Hot Nights" reality television series.

WGL Entertainment Holdings, Inc., through its subsidiary WGL Entertainment, is the producer of the WGL Million Dollar Shootout Reality Television Series and several other made-for-TV sports entertainment events scheduled to be produced in 2007 and beyond.

To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Contact Information

  • For more information contact:

    Michael Pagnano
    WGL Entertainment Holdings, Inc.
    1-407-328-8538