Acres Gaming Announces Advanced Bonusing System Sale; Largest Single Order in Acres' Company History.LAS VEGAS--(BUSINESS WIRE)--Nov. 5, 1998--Acres Gaming (Nasdaq:AGAM AGAM Ambiente Gas Acqua Monza SpA (Italian) ) today announced the signing of an agreement to install an enhanced Acres Bonusing System(tm) at a new casino casino or cassino (both: kəsē`nō). 1 Card game played with a full deck by two to four players. Its origins are obscure though it probably traces back to the Italian game of Scopa. in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. . The system will connect 2,400 gaming machines See video game console. and is scheduled to be installed by March, 1999. The installation features a number of promotions to enhance play and reward patron loyalty and includes accounting and plasma video displays. This is the largest contract in Acres Gaming history, and exceeds 50% of the company's net revenues for the fiscal year ended June 30, 1998. "We are delighted to complete the sale of this outstanding application of our bonusing technology," said John Acres, chairman of Acres Gaming. "Our first major Acres Bonusing System installation at the Crown South Bank Casino in Melbourne, Australia proved that our bonus system significantly increases play levels and casino profits by offering a better experience for players. With this sale, we are establishing a new standard for slot systems in the world's leading gaming market." "Our strategy is to establish a direct relationship with casinos and provide a complete solution, which gives us greater creative control and financial benefit," said Floyd Glisson, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Acres Gaming. "This important agreement validates that strategy. We believe this is the first of many sales to come at advanced casinos throughout the world." Acres Bonusing Technology is protected by five U.S. patents, 5,655,961, 5,752,882, 5,820,459, 5,702,304 and 5,741,183. Additional patents are expected to issue in the coming months. Detailed descriptions of the promotions made available by the Acres Bonusing System, as well as other products offered by Acres Gaming, are available at the company's Web site, www.acresgaming.com. Acres Gaming provides products and services to casinos and gaming equipment manufacturers worldwide, using its proprietary Acres Bonusing Technology to increase player enjoyment and casino efficiency and profitability. The company has offices in Corvallis, Ore. and Las Vegas. The discussion in this press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. (as defined in Section 27A of the Securities Act of 1993, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. ). Forward-looking statements involve risks and uncertainties and various factors that could cause actual results to differ materially from those in the forward-looking statements. Forward-looking statements relate to anticipated future sales, scheduled casino opening dates, new product introductions, and patent protection. The following factors, among others, could cause actual results to differ from those indicated in the forward-looking statements: the possibility that future sales may not occur or product offerings may not be developed as planned, the impact of competitive products and pricing, lack of market acceptance, the possibility that future product installations may not be completed, uncertainties arising from different distribution channels, changes in federal or state laws or the administration of such laws, the risk that patents may not be issued, the expense and unpredictability of patent and other litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and other risks detailed from time to time in the company's SEC reports including the report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended June 30, 1998. Actual results may differ materially from the forward-looking statements. |
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