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GAMMA INTERNATIONAL REVISES ESTIMATED RESULTS FOR FISCAL 1991; COMPANY ALSO COMPLETES PRIVATE PLACEMENT

 GAMMA INTERNATIONAL REVISES ESTIMATED RESULTS FOR FISCAL 1991;
 COMPANY ALSO COMPLETES PRIVATE PLACEMENT
 BILLERICA, Mass., March 30 /PRNewswire/ -- Gamma International, Ltd. (NASDAQ: GAMMC) today announced a revision to its estimated results for fiscal 1991. On Feb. 14, 1992 the company announced that it expected to report a loss of $2.3 million. The company indicated today an increase of approximately $575,000 in its estimated loss for fiscal 1991 due to the write-off of previously capitalized expenses. The company expects to finalize and announce results for fiscal 1991 shortly. Game sales were an estimated $16.2 million compared to game sales of $14,600,776 in fiscal 1990.
 In announcing the revised estimated results, Jack Saltiel, president, said that the write-off of capital expenses does not materially affect the company's earning prospects nor any of its present operations. In addition, the company still intends to develop these capital assets in the future.
 The company also reported that it had raised $900,000 in private placements of 900,000 shares of its common stock during the first part of March 1992, which Saltiel said will assist the company in implementing its plans for expansion of its gaming operations.
 Gamma International, Ltd. common shares, warrants and units are traded on NASDAQ under the symbols GAMMC, GAMMWC and GAMMUC.
 -0- 3/30/92
 /CONTACT: Jack Saltiel, president of Gamma International, 508-670-0794, or John Swanson of Swanson Communications, 212-683-4890, for Gamma Intl./
 (GAMMC) CO: Gamma International, Ltd. ST: Massachusetts IN: CNO SU: ERP


AH-OS -- NY083 -- 2985 03/30/92 15:12 EST
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Publication:PR Newswire
Date:Mar 30, 1992
Words:258
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