Printer Friendly

INTERNATIONAL TOTALIZATOR SYSTEMS COMPLETES SALE OF MCKINNIE & ASSOCIATES SUBSIDIARY

 CARLSBAD, Calif., April 1 /PRNewswire/ -- International Totalizator Systems, Inc.(R) (NASDAQ: ITSI) has completed the sale of its wholly- owned subsidiary, McKinnie & Associates to Shreveport Acquisition Corp., a group of private investors, some of which are current OEM customers of ITS.
 Under the terms of the agreements, ITS will receive two million dollars over the next twelve months. In addition, an earn out provision over the next six years could provide ITS with an additional two million dollars.
 Stephen Molnar, president of McKinnie & Associates commented. "We expect to positively impact the pari-mutuel and gaming industries with a new generation of products and services." Mr. Molnar, who has been with McKinnie & Associates since 1991, added, "We also intend to continue our mutually productive relationship with ITS as we pursue new business opportunities."
 International Totalizator Systems, Inc.(R) designs, manufactures, sells, supports and services computerized ticket issuing systems and terminals for the global pari-mutuel wagering, on-line lottery and automated travel ticket printing industries.
 -0- 4/1/93
 /CONTACT: Karen Patchen, manager-investor relations of International Totalizator Systems, Inc., 619-931-4027/
 (ITSI)


CO: International Totalizator ST: California IN: CPR SU:

TM -- NY014 -- 1802 04/01/93 07:01 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 1, 1993
Words:194
Previous Article:NEW TECHNOLOGY CAN REDUCE THE NATIONAL DEFICIT
Next Article:TUBOS DE ACERO DE MEXICO BOARD PROPOSES STOCK ISSUANCE
Topics:


Related Articles
INTERNATIONAL TOTALIZATOR SYSTEMS RECEIVES ADD-ON ORDER VALUED AT $1.3 MILLION (U.S.) FROM MALAYSIAN LOTTERY
INTERNATIONAL TOTALIZATOR SYSTEMS SIGNS MARKETING AGREEMENT FOR NORTH AMERICAN WAGERING
INTERNATIONAL TOTALIZATOR SYSTEMS EXPECTS LOSS FOR FISCAL 1992
INTERNATIONAL TOTALIZATOR SYSTEMS GOES LIVE WITH LOTTERY SYSTEM IN PAPUA, NEW GUINEA
INTERNATIONAL TOTALIZATOR SYSTEMS LOTTERY IN PAPUA, NEW GUINEA HOLDS FIRST DRAW
INTERNATIONAL TOTALIZATOR SYSTEMS GOES LIVE WITH SPORTS BETTING NETWORK IN THE DOMINICAN REPUBLIC
INTERNATIONAL TOTALIZATOR SYSTEMS' SHAREHOLDERS APPROVE $26 MILLION CAPITAL INFUSION
INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS REPORTS LOSS FOR THIRD QUARTER
INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS REPORTS RESULTS OF THIRD QUARTER AND RECENT DEVELOPMENTS
International Lottery & Totalizator Systems Receives Add-On Terminal Order For Philippine Lottery

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters