Progressive Gaming International Receives Approval to Begin Live Field Trial for ‘Wireless’ Version of Rapid Bet Live(TM) in Nevada
m88 factors that could cause or contribute to differences include, but are not limited to, the risk that the Nevada Gaming Control Board may not grant final approval for the wireless version of Rapid Bet Live in the time frame expected, or at all, the risk that demand for the wired and wireless versions of Rapid Bet Live 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, 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. 8, 2006–Progressive Gaming International Corporation (NASDAQ: PGIC) (the “Company”) a leading provider of diversified products and services used in the gaming industry worldwide announced today that the Nevada Gaming Control Board’s Technology Division has approved the first installation of the “wireless” version of Rapid Bet Live for a live field trial at the Palms Hotel and Casino in Las Vegas. Executive Vice-President of Sales and Marketing Bob Parente stated that “based upon initial customer reactions in both Nevada and worldwide in those jurisdictions where sports wagering is legal, we believe the ‘wireless’ version of Rapid Bet Live will have great appeal due to its considerable ease of implementation.”
LAS VEGAS–(BUSINESS WIRE)–Sept. There is a Progressive Gaming International product in virtually every casino in the world. We believe casino operators’ sports books will benefit from implementing both the ‘wired’ and ‘wireless’ versions of Rapid Bet Live by creating an exciting new sports book experience which will lead to incremental revenue growth opportunities.”
Safe Harbor Statements under The Private Securities Litigation Reform Act of 1995: This release contains certain forward-looking statements, including statements regarding the approval of the wireless version of Rapid Bet Live in Nevada, the expected demand for the wireless version of Rapid Bet Live, the revenue growth opportunities provided by the wireless version of Rapid Bet Live and the ease of implementation of the wireless version of Rapid Bet Live. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company received regulatory approval to distribute the “wired” version earlier this year. For further information, visit www.progressivegaming.net
Chief Executive Officer Russ McMeekin stated “this is a major milestone for our Company’s wireless technology initiatives and sports betting products.
Rapid Bet Live allows live wagering throughout the entire course of a sporting event. 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.. The “wireless” version will give patrons the flexibility of placing wagers on a mobile device from specific networked areas in the casino as well as playing from fixed terminals within the sports book.
About Progressive Gaming International
Progressive Gaming International is a leading supplier of Integrated Casino Management Systems Software and Games for the gaming industry worldwide. 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 and quarterly reports on Form 10-Q, as well as other subsequent filings with the Securities and Exchange Commission. 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. Wagers will only be placed and accepted over the sports book’s intranet–a local area network which employs a secured 802.11x method of communication.
Progressive Gaming International Corporation
Sue Christensen, 702-263-2800
The Company is unique in the industry in offering management, progressive systems and games as a modular yet integrated solution. The Company develops and distributes an expanding array of slot and table games, sports betting products plus management and progressive jackpot software systems. The wireless version will not allow patrons to access or place wagers on the Internet
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