Coinless Systems Inc. Opens Office in Gaming Capital of the World -- Las Vegas.LAS VEGAS--(BUSINESS WIRE)--Nov. 9, 1999-- Coinless Systems Inc. (CLSY.OB) Tuesday announced that the company has opened a 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. office in order to better serve the casino industry. Effective immediately, the entire engineering staff along with all research and development will have headquarters in Las Vegas. Coinless Systems Inc. is the manufacturer of TickeTrak(TM), a coinless peripheral device See peripheral. peripheral device - peripheral for the gaming industry. TickeTrak(TM) was developed as a solution to the cost of using coins in gaming machines See video game console. . It facilitates coinless processing through the use of bar-coded tickets. The device is designed to print a ticket upon a customer's request to cash out. Using a patent pending process, the ticket is verified for accuracy before being presented to the player. Customers are free to cash out or use the tickets for continued play at other machines. Tickets can be customized with greetings or individual casino advertising. In the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , the casino industry is a $28 billion dollar business. Globally, over $1 trillion is wagered in casinos. Currently, slot machines represent 83% of the average casino's gross revenue. Recently, Spirit Mountain Casino Spirit Mountain Casino is a name used by several casinos including:
In addition to outfitting every video lottery machine A lottery machine is the machine used to draw the winning numbers for a lottery. Early lotteries were done by drawing numbers, or winning tickets, from a container. with TickeTrak(TM), Spirit Mountain Casino will also be the initial installation for Coinless Systems' computerized ticket accounting system. This revolutionary system utilizes Ethernet communications to a separate host computer which tallies the number of tickets cashed by casino customers. Dennis Sorenson, president of Coinless Systems stated: "The purchase of 1,200 TickeTrak(TM) devices is the start of what we believe casinos throughout the world will soon be using. Approximately 90% of the world's slot machines could be retrofitted to use the TickeTrak(TM) system." The Las Vegas office is located at 5670 S. Wynn Road, Suite C and can be reached at 877/778-COIN. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for 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. Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results. |
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