Alliance Gaming Files Antitrust Lawsuit Against IGT.LAS VEGAS--(BUSINESS WIRE)--July 22, 1999-- Alliance Gaming Corp. (Nasdaq:ALLY) announced today that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Bally Gaming, Inc., has filed an antitrust lawsuit in the United States District Court for the District of New Jersey The United States District Court for the District of New Jersey is the Federal district court whose jurisdiction is the state of New Jersey. It was established in 1789. New Jersey is the largest state by population to only have one District Court. The Honorable Garrett E. against International Game Technology (NYSE NYSE See: New York Stock Exchange :IGT IGT impaired glucose tolerance. ), a manufacturer of slot machines and the sole supplier of inter-casino linked progressive slot machines to Atlantic City, N.J., casinos. Filed on July 20, the suit charges that provisions in IGT's contract with Atlantic City casinos bar the casinos from using progressive systems from IGT's competitors, thereby preserving IGT's monopoly in the lucrative Atlantic City progressive market. The suit claims that these exclusive dealing provisions violate federal and state antitrust laws antitrust laws n. acts adopted by Congress to outlaw or restrict business practices considered to be monopolistic or which restrain interstate commerce. The Sherman Antitrust Act of 1890 declared illegal "every contract, combination.... and common law policies against unfair competition and restraints of trade. The suit alleges the restrictive provisions have frustrated Bally's efforts to launch its Thrillions(tm) wide-area progressive system in Atlantic City. Bally seeks declaratory DECLARATORY. Something which explains, or ascertains what before was uncertain or doubtful; as a declaratory statute, which is one passed to put an end to a doubt as to what the law is, and which declares what it is, and what it has been. 1 Bl. Com. 86. and injunctive relief injunctive relief n. a court-ordered act or prohibition against an act or condition which has been requested, and sometimes granted, in a petition to the court for an injunction. , compensatory damages and other relief. Alliance Gaming is a diversified gaming company with headquarters in Las Vegas. The company is engaged primarily in the design, manufacture and distribution of advanced gaming devices and systems worldwide, and is the nation's largest gaming machine route operator and operates two regional casinos. Additional information about the company can be found on the Alliance Gaming Web site at http://www.ally.com. This news release may contain "forward-looking" statements within the meaning of the Securities Act of 1933, as amended, and is subject to the safe harbor created thereby. Such information involves important risks and uncertainties that could significantly affect the results in the future and, accordingly such results may differ from those expressed in any forward-looking statements. Future operating results may be adversely affected as a result of a number of risks detailed from time to time in the company's filings with the Securities and Exchange Commission. Note to Editors: Betty Boop is a trademark of The Hearst Corp./Fleischer Studios Inc. |
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