Acres Gaming Announces Licensing of Its Proprietary Bonusing Protocol.CORVALLIS, Ore.--(BUSINESS WIRE)--May 18, 1998--Acres Gaming (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AGAM AGAM Ambiente Gas Acqua Monza SpA (Italian) ), a leader in the development of new gaming technology, today announced the non-exclusive licensing of the proprietary elements of its bonusing protocol to Mikohn Gaming Mikohn Gaming manufactures slot machines with a skill element in their bonus round. Some of the slot machine games produced by Mikohn gaming include:
The protocol allows gaming machines to communicate with other components of a networked gaming system in certain bonusing applications. In return for granting the license, Acres Gaming received a cash license fee of $325,000 from Mikohn. The license agreement does not, however, in any way resolve or settle the companies' pending lawsuits regarding Acres Gaming's patents. Acres Gaming presently uses its bonusing protocol in its Acres Bonusing System, which makes possible a variety of powerful bonusing options. Casinos can reward their best customers with Xtra Credit, Personal Progressive, ReturnPlay and other bonuses. These bonusing promotions are helping casinos to be more profitable while bringing greater entertainment value to the player. Acres Gaming provides products and services to gaming equipment manufacturers and casinos worldwide, using its proprietary Acres Bonusing Technology to increase player enjoyment and casino efficiency and profitability. The Company has offices in Corvallis and 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 discussion in this press release regarding pending lawsuits 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 1933, as amended) that involve risks and uncertainties, including the risks of 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 the 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, 1997. Actual results may differ materially from the forward-looking statements. CONTACT: Acres Gaming Robert W. Brown, 541/766-2403 bbrown@acresgaming.com or Lippert/Heilshorn & Associates Lillian Armstrong/Adam Aron, 415/433-3777 adam@lhai.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion