Progressive Gaming and Cantor Expand Mobile Gaming Relationship.Progressive Will Globally Distribute Mobile Gaming Systems and Cantor Acquires Mobile Rights to Rapid Bet Live[TM] and PrimeLine[TM] 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. -- Please replace the release with the following corrected version due to multiple revisions. The corrected release reads: PROGRESSIVE GAMING AND CANTOR EXPAND MOBILE GAMING RELATIONSHIP Progressive Will Globally Distribute Mobile Gaming Systems and Cantor Acquires Mobile Rights to Rapid Bet Live[TM] and PrimeLine[TM] Progressive Gaming International Corporation (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 : PGIC PGIC Pacific Gateway International College (British Columbia) ) ("Progressive") a leading provider of diversified products and services used in the gaming industry worldwide announced today that it signed strategic agreements that will expand the mobile gaming relationship between Progressive and Cantor Gaming, an affiliate of the global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company Cantor Fitzgerald Cantor Fitzgerald L.P. is a global financial services firm specializing in bond trading, as well as investment banking, asset management, market data and brokerage services. ("Cantor"). Progressive will be a worldwide distributor of Cantor's mobile gaming systems and Cantor has licensed the rights to Rapid Bet Live and PrimeLine for use with its mobile gaming system's sports wagering applications. Cantor is the exclusive provider of mobile gaming services to the Las Vegas Sands Las Vegas Sands Corp. (NYSE: LVS) is a casino resort company based in Las Vegas, Nevada and majority owned by one of the world's richest men, Sheldon Adelson. Las Vegas Sands chairman Sheldon Adelson, the world's sixth richest man, has said that his company will soon be Corporation, which owns and operates The Venetian on the Las Vegas Strip The Las Vegas Strip (also known as The Strip) is a 4 mi (6.7 km) section of Las Vegas Boulevard South, most of which has been designated an All-American Road. and the Sands Macao Sands Macao (Traditional Chinese: 金沙娛樂場) is a casino resort located in Macau on the Macau Peninsula. It is owned and operated by the Las Vegas Sands Corporation, and was designed by Paul Steelman Design Group. . The agreements include revenue sharing revenue sharing Funding arrangement in which one government unit grants a portion of its tax income to another government unit. For example, provinces or states may share revenue with local governments, or national governments may share revenue with provinces or states. provisions. The expansion of the relationship further extends the ability for Progressive and Cantor to offer multiple wireless wagering applications in numerous jurisdictions worldwide. Cantor and Progressive originally signed a Game Content License Agreement in July 2006 for Cantor to license a select list of Progressive's gaming titles, including Texas Hold 'Em Texas hold 'em (also hold'em, holdem) is the most popular poker variant played in casinos in the United States.[1] Hold'em is a community card game where each player may use any combination of the five community cards and their own two hole cards Bonus[R] poker and Caribbean[R] Stud poker, for use on Cantor's mobile gaming system in Nevada and other jurisdictions worldwide. Texas Hold 'Em Bonus Poker on Cantor's mobile gaming system received positive reviews at both the 2006 Global Gaming Expo Global Gaming Expo (G2E) is an annual gaming trade show held in Las Vegas, Nevada, generally in November, at the Las Vegas Convention Center. The show is one of the two major gaming trade shows. in Las Vegas and the ICE show in London earlier this year. "We are very excited to expand our partnership with Cantor Gaming," said Progressive Gaming's Chief Executive Officer, Russ McMeekin. "We believe Cantor's robust and secure mobile wagering technology combined with our table game content and sports wagering systems and technology will provide innovative wagering applications that will create new revenue opportunities for gaming operators worldwide." Joe Asher, Cantor Gaming's Managing Director, stated, "We are pleased to expand our relationship with Progressive by taking their sports betting content mobile. These agreements will provide additional content offerings to mobile gaming customers. Additionally, we look forward to leveraging Progressive's sales and support team to further the distribution of our mobile gaming system." About Progressive Gaming International Progressive Gaming International is a leading supplier of integrated casino and jackpot management system solutions for the gaming industry worldwide. This technology is widely used to enhance casino operations and drive greater revenues for casino operators. Progressive Gaming is unique in the industry in offering casino management and progressive systems in a modular yet integrated solution. Products include multiple forms of regulated wagering solutions in wired, wireless and mobile formats. There are Progressive Gaming International products in hundreds of casinos throughout the world. For further information, visit www.progressivegaming.net About Cantor Gaming Cantor Gaming is an affiliate of the global financial services company Cantor Fitzgerald. Through its subsidiary, eSpeed, Inc., Cantor has unparalleled expertise in the real-time, reliable and secure execution of financial transactions. Cantor Gaming was instrumental in the passage of A.B. 471, signed into law by Nevada Governor Kenny Guinn in June 2005. That legislation paves the way for mobile gaming on the premises of Nevada's casino resorts. Cantor Gaming was the first company licensed as a manufacturer, distributor and operator of a mobile gaming system by the Nevada Gaming Commission The Nevada Gaming Commission is a Nevada state governmental agency involved in the regulation of casinos throughout the state, along with the Nevada Gaming Control Board. It was founded in 1959 by the Nevada Legislature. . Cantor provides a complete end-to-end mobile gaming solution, including the wireless, mission-critical server-based gaming system, full back-office infrastructure and an extensive portfolio of casino games. The Las Vegas Sands organization has selected Cantor Gaming as its exclusive provider of mobile gaming services at The Venetian and the under-construction Palazzo on the Las Vegas Strip and in other jurisdictions where permitted by law. For further information, please visit www.cantorgaming.com. Progressive's 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. Statements Safe Harbor Statements under The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This release contains certain forward-looking statements, including statements regarding table game content and sports wagering systems and technology providing innovative wagering applications and the creation of additional revenue opportunities for operators. Factors that could cause or contribute to differences include, but are not limited to, the risk that demand mobile gaming systems may not reach anticipated levels, the status of rights licensed from content providers, risks related to the Company's ability to enforce and develop its intellectual property rights, including rights licensed from third parties, the risk that patents may exist of which the Company is not aware, or that existing patents may provide benefits to third parties beyond those anticipated by the Company, the Company's ability to meet its capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. , relationships with casino operators, the overall industry environment, customer acceptance of the Company's new products, further approvals of regulatory authorities, adverse court rulings, production and/or quality control problems, the denial, suspension or revocation of privileged operating licenses by governmental authorities, competitive pressures and general economic conditions as well as the Company's debt service obligations. For a discussion of these and other factors which may cause actual events or results to differ from those projected, please refer to the Company's most recent annual 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. and quarterly reports on Form 10-Q Form 10-Q See 10-Q. , as well as other subsequent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise any forward-looking statements to reflect new circumstances or anticipated or unanticipated events or circumstances as they occur. Rapid Bet Live and PrimeLine are trademarks of Progressive Gaming International Corporation. Texas Hold' Em Bonus and Caribbean Stud are registered trademarks of Progressive Gaming International Corporation. [c]2007 Progressive Gaming International Corporation[R]. All rights reserved. |
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