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VendingData(TM) Shareholders Approve Securities Purchase and Product Participation Transaction with Elixir Group Limited.


Elixir elixir /elix·ir/ (e-lik´ser) a clear, sweetened, alcohol-containing, usually hydroalcoholic liquid containing flavoring substances and sometimes active medicinal ingredients.

e·lix·ir
n.
 Group "Earns-in" Majority Interest in VendingData

VendingData Changes Name to Elixir Gaming Technologies, Inc.; Trading Symbol Trading symbol

See: Ticker symbol
 to Change to "EGT EGT Exhaust Gas Temperature
EGT Equal Gain Transmission
EGT Estimated Ground Time
EGT Equivalent Granular Thickness (numerical cale for roadway evaluation)
EGT Enhanced Ground Testing
EGT EndGame Tournaments LLC
" on September 12

Elixir Gaming Technologies Appoints New Management Team

Elixir Group Names Three Members to Elixir Gaming Technologies' Board of Directors

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.  & HONG KONG Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov.  -- VendingData Corporation (AMEX AMEX

See: American Stock Exchange
:VNX) announced today that its shareholders have approved the expansion of the Company's strategic alliance with Elixir Group Limited ("Elixir Group"), a 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.
 of Melco International Development Limited (HKSE HKSE Hong Kong Stock Exchange :0200) ("Melco"), through the Securities Purchase and Product Participation Agreement announced in June 2007, whereby Elixir Group will become VendingData's major shareholder. With the transaction now complete, VendingData has changed its name, effective immediately, to Elixir Gaming Technologies, Inc. ("Elixir Gaming" or "the Company"). In addition, Elixir Gaming will change its American Stock Exchange American Stock Exchange (AMEX)

Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921.
 trading symbol to "EGT" effective tomorrow, September 12, 2007.

Pursuant to the "earn-in" provision of the Securities Purchase and Product Participation Agreement (which grants Elixir Group the right to earn a growing equity interest in Elixir Gaming based on the number of slot machines that have been placed and contracted to be placed on participation between Elixir Gaming and the gaming operators sourced and identified by Elixir Group), Elixir Gaming issued 40 million shares of its common stock and 22 million warrants to Elixir Group based on commitments to date for greater than 2,000 electronic gaming machines contracted to be placed on a participation basis in Asia-Pacific markets and current placements of at least 1,000 of the contracted for units.

Elixir Group now owns approximately 41 million Elixir Gaming shares, or approximately 53.5%, of Elixir Gaming's outstanding shares.

Gordon Yuen, who has served as 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 Elixir Group since the Company's inception in 2002, and was today named Executive Chairman and CEO of Elixir Gaming, commented, "The transaction represents a win-win situation for Elixir Group and Elixir Gaming's shareholders as it demonstrates Elixir Group's relationships and service and distribution capabilities throughout Asia through Elixir Gaming. Elixir Gaming is focused solely on addressing the growing pan-Asian gaming marketplace with advanced slot floor and table game offerings and is the only US company focused on placing slot machines on a high-margin, recurring revenue participation model throughout Asia.

"Gaming markets across Asia are opening and/or expanding and Elixir Group has quickly established itself as the leading supplier of participation gaming devices in emerging markets such as the Philippines, Cambodia and Vietnam. In the short period since Elixir Group has sought to address the electronic gaming machine opportunities across Asia Pacific markets, it has achieved significant market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market
penetration - the act of entering into or through something; "the penetration of upper management by women"
 with agreements for over 2,000 unit placements to date. Elixir Gaming shareholders are already benefiting from strong new placement momentum and will continue to benefit as the installed base grows and we participate on a recurring revenue basis."

New Management Team Appointments

Concurrent with the completion of the transaction, Elixir Gaming Technologies announced the following management changes and appointments, all of which are effective immediately:

* Gordon Yuen has been named Executive Chairman and Chief Executive Officer. Mr. Yuen has led Elixir since its inception in 2002. He had previously been a key managerial member of a number of major multi-national companies including HSBC HSBC Hongkong and Shanghai Banking Corporation
HSBC Humane Society of Broward County (Florida)
HSBC Humane Society of Bay County (Bay County, Michigan) 
, American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses.  International, American Express Bank and PepsiCo, as well as several other companies in Asia.

* Joe Pisano has been named Executive Director and Senior Vice President. Mr. Pisano has served as general manager of gaming operations for Elixir Group Limited since August 2006. From March 2002 to July 2006, Mr. Pisano served as business development manager-Asia Pacific for IGT IGT impaired glucose tolerance.  (Australia) Pty Ltd PTY LTD Propriety Limited (company structure in Australia) , a wholly-owned subsidiary of International Game Technology.

* David Reberger has been named Chief Financial Officer. Prior to joining Elixir Gaming, he was a mergers and acquisitions adviser based in Australia for ten years with CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. , Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City.  and Gresham Partners. Mr. Reberger was an executive director of CIBC World Markets and headed their Asia Pacific Gaming, Lodging and Leisure Group. Prior to investment banking, he spent six years in the 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.
 sector in both corporate and chartered accounting.

Mark Newburg, who most recently served as the Company's Executive Director, Treasurer, Chief Executive Officer and President resigned yesterday evening from executive roles at the Company, effective immediately. Arnaldo Galassi, who most recently served as Vice President and Chief Financial Officer of VendingData, as well as the rest of the senior management team, will support the management transition through December 31, 2007 and the Company expects to record a severance charge of approximately $2.0 million pre-tax in the quarter ending September 30, 2007.

Mark Newburg commented, "In two years the senior management team of VendingData was successful in transforming VendingData from an entity with offerings that achieved limited commercial success to one that is poised to be a leader in the fastest growing global gaming markets with a diversified product line and strong local partners and distribution capabilities."

Gordon Yuen added, "Mark Newburg and his team positioned the Company to participate in a substantial growth opportunity based on the alliances they established with Melco and Elixir Group. The successful conclusion of this transaction is testimony to the perseverance of the entire management team and we wish them well in their future endeavors.

"Joe Pisano, David Reberger and I bring a range of relevant industry, local market, financial experience and relationships to our new roles at Elixir Gaming. With Joe Pisano responsible for business and gaming technologies development, David Reberger leading our mergers and acquisitions strategy and investor relations Investor relations

The process by which the corporation communicates with its investors.
 functions, and the three of us heading initiatives to achieve long-term strategic growth, we are optimistic op·ti·mist  
n.
1. One who usually expects a favorable outcome.

2. A believer in philosophical optimism.



op
 about Elixir Gaming's near- and long-term prospects."

Board of Director Appointments

Concurrent with the completion of the transaction, Elixir Gaming Technologies announced the following appointments to the Company's Board of Directors, all of which are effective immediately. Reflecting the resignations of former Chairman, Jim Crabbe and Mark Newburg, these appointments increase the size of Elixir Gaming's Board to six members, four of whom are considered independent under the corporate governance Corporate Governance

The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law.
 standards of the American Stock Exchange.

* Gordon Yuen, Executive Chairman and Chief Executive Officer of Elixir Gaming.

* Joe Pisano, Executive Director and Senior Vice President of Elixir Gaming.

* Lorna Kapunan, Independent Non-Executive Director A non-executive director (NED, also NXD) or outside director is a member of the board of directors of a company who does not form part of the executive management team. He or she is not an employee of the company or affiliated with it in any other way.  of Elixir Gaming. Ms Kapunan is a senior partner of Kapunan Lotilla Flores Flores, town, Guatemala
Flores (flōrəs), town (1990 est. pop. 2,200), capital of Petén department, N Guatemala. Flores was built on an island in the southern part of Lake Petén Itzá and on the site of the
 Garcia & Castillo Law Offices, a law firm located in Manila, Philippines.

Jim Crabbe, commented "I wish to acknowledge the tremendous efforts of Mark Newburg and his management team in repositioning repositioning Laparoscopic surgery The changing of a Pt's position during a procedure to improve access or visualization of the operative field, which may be linked to complications, as it changes anatomic planes of operation. Cf Laparoscopic surgery.  VendingData's business and securing this broader strategic alliance with Melco and Elixir Group.

"Prior to this transaction I was the major shareholder in VendingData. I have very high confidence in the capabilities of the new management team and I personally am very excited by the prospects for significant shareholder wealth creation that this new business model offers. As a long term Elixir Gaming shareholder, I look forward to participating in the Company's growth based on execution against its well defined business plan."

Elixir Gaming Technologies Inc (Elixir Gaming) is a member of Elixir Group, an innovator of gaming technology solutions and a wholly owned subsidiary of the Melco Group. Elixir Gaming delivers cutting-edge and market-competitive technology. Its principal products include table devices, such as the automated card verification machine, computer-based card shuffling system, and high-frequency RFID-gaming chips and plaques. Elixir Gaming products are distributed by Elixir Group in Asia and Suzo Happ in the America's and Europe.

Elixir Gaming has expanded its business model by entering the highly lucrative gaming machine participation business. The company has already established a strategic presence in Asia Pacific with its participation contracts in Philippines, Cambodia, Vietnam and other Asian markets.

In addition, Elixir Gaming boasts the capability of efficiently and quickly responding to the stringent and specific technical requirements of customers, in collaboration with Elixir Group's ICT (1) (Information and Communications Technology) An umbrella term for the information technology field. See IT.

(2) (International Computers and Tabulators) See ICL.

1. (testing) ICT - In Circuit Test.
, manufacturing and research and development teams. These services optimize the security, productivity and profitability within the gaming establishments.

About Elixir Group Limited

Elixir Group is an important strategic component of Melco's gaming and leisure entertainment focus. Elixir Group holds the distinction of being a "home-grown" brand: a full-fledged games manufacturer based in Asia - designing, developing and supplying gaming machines and non-gaming information communications technology Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems
engineering, technology - the practical application of science to commerce or industry
 (surveillance, LEDs, ATMs) solutions for the Asian market.

With gaming and research development centres in Macau, China and the Philippines, proximity to key growth markets provides Elixir with competitive advantages. As a pioneer in the competitive Asian gaming market, Elixir has consistently delivered exciting solutions, expert sales advice and professional gaming support. Elixir has forged alliances with leading gaming and technology companies and by accessing its partners' manufacturing capabilities is able to focus entirely on innovative product design and customer service. Elixir has also secured several strategic agreements in the provision of gaming IT infrastructure for various gaming concession holders in Macau.

Reflecting its intention to further strengthen its leading position in Asia's gaming technology industry Elixir Group has become the major shareholder of Elixir Gaming Technologies, Inc.

Forward-Looking Statements:

This press release report contains forward-looking statements concerning VendingData within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those forward-looking statements include statements regarding expectations for the transaction between VendingData and Elixir Group, including the recurring revenue that may develop from the relationship with Elixir Group, and the Company's expectations for future product revenue. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, risks related to Elixir Group's inability to place gaming machines at significant levels or at all; and risks relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 Elixir's ability to place games that generate the expected amount of net-win. VendingData cautions readers not to place undue reliance on any forward-looking statements. VendingData does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved.

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Publication:Business Wire
Date:Sep 11, 2007
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