Filed by Equitex, Inc. Pursuant to Rule 425 under the Securities Act of 1933

                                    Subject Company:  iGames Entertainment, Inc.
                                                  Commission File No.: 000-49723

                                                           FOR IMMEDIATE RELEASE

March 15, 2004

Thomas B. Olson, Secretary
(303) 796-8940

                           iGAMES ENTERTAINMENT, INC.

Englewood, Colorado and Palm Beach Gardens, Florida - Equitex, Inc. (NASDAQ:
EQTX) announced today that on March 11, 2004 its Board unanimously approved
resolutions (i) declaring a default under a $2,000,000 obligation owed by iGames
Entertainment, Inc. to the Company's Chex Services, Inc. subsidiary, and (ii)
authorizing and approving the termination of the Stock Purchase Agreement dated
November 3, 2003 between the Company and iGames Entertainment, Inc. for the
purchase of all of the stock of the Company's Chex Services, Inc. subsidiary. In
a letter dated March 12, 2004, the Company notified iGames Entertainment, Inc.
of the termination resulting from certain material adverse changes in their
business. The Company intends to immediately seek payment of all amounts due it
and Chex Services, Inc.

The Company intends to seek new strategic partners to investigate possible
business combinations involving either the Company or its Chex Services, Inc.

Equitex, Inc. is a holding company operating through its wholly owned subsidiary
Chex Services of Minnetonka, Minnesota, as well as its majority owned subsidiary
Denaris Corporation. Chex Services provides comprehensive cash access services
to casinos and other gaming facilities. Denaris was formed to provide stored
value card services.
The statements included in this press release concerning predictions of economic
performance and management's plans and objectives constitute forward- looking
statements made pursuant to the safe harbor provisions of Section 21E of the
Securities Exchange Act of 1934, as amended, and Section 27A of the Securities
Act of 1933, as amended. These statements involve risks and uncertainties that
could cause actual results to differ materially from the forward-looking
statements. Factors which could cause or contribute to such differences include,
but are not limited to, factors detailed in Equitex's Securities and Exchange
Commission filings; completion of due diligence, shareholder approval,
regulatory approvals and certain other pre-closing conditions for all incomplete
merger or acquisition transactions; economic downturns affecting the operations
of Equitex its subsidiaries or companies proposed for merger or acquisition; the
loss of contracts or failure to acquire new contracts; success of any legal
actions; failure to successfully implement newly developed product lines
including projected increases in revenues or earnings; failure to effectively
institute cost reduction plans; the termination of previously announced
acquisitions; delays or the inability to obtain regulatory approvals for
previously announced acquisitions; the inability to initiate or complete any
contemplated restructuring, offering, acquisition, disposition or other
transaction; adverse financial performance by Equitex or any of its
subsidiaries; failure to obtain or maintain regulatory approval for products and
services offered by Equitex or its subsidiaries; adverse equity market
conditions and declines in the value of Equitex common stock; and the
unavailability of financing to complete management's plans and objectives. The
forward-looking statements contained in this press release speak only as of the
date hereof and Equitex disclaims any intent or obligation to update these
forward-looking statements.
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