Clarification of September 12, 2006 Press Release - There Is No Affiliation or Supply Relationship Between Wells-Gardner and IGT
CHICAGO, Oct. 5 /PRNewswire-FirstCall/ -- Wells-Gardner Electronics Corporation (AMEX:WGA) announced that an entire family of LCDs have been approved for use in IGT machines by the leading independent third party regulatory agency, Gaming Laboratories International, the Nevada Gaming Control Board and the Division of Gaming Enforcement in New Jersey.
The Wells-Gardner family of LCDs for use in IGT machines currently consists of 12 LCDs including 5 different 15" IGT bar top products, 3 17" IGT slant top and upright products and 4 19" IGT slant top and upright products that cover virtually every IGT gaming machine installed in casinos throughout the world. The 17" and 19" products include both slide-in and door mount products.
Wells Gardner's LCD replacement kits for IGT machines are sold exclusively by American Gaming & Electronics (AG&E) and their distributors.
This family of Wells-Gardner LCDs are approved for use in IGT machines in Nevada, New Jersey and the states of Arizona, California, Colorado (pending), Connecticut, Illinois (pending), Indiana, Iowa, Iowa (Native), Kansas, Kansas New, Louisiana Casino, Louisiana Indians, Louisiana Land, Michigan (Native), Minnesota, Missouri, Mississippi (pending), Mississippi Indians, New Mexico (Native), New York (Seneca), New York (Oneida), North Carolina, North Dakota, Puerto Rico, South Dakota Gaming and Wisconsin.
"We are delighted that these LCDs have been approved by these eminent gaming agencies and laboratories," said Anthony Spier, Wells Gardner's Chief Executive Officer. "This will allow us to sell this entire family of LCDs aggressively into IGT video installations in North America, which we estimate to be around 387,000 units. We are already having great success in selling our LCDs to replace CRT monitors in many IGT machines. We reported that AG&E had sold 1340 LCDs directly to casinos in our second quarter, 2006 earnings press release of August 3, 2006. This was an increase from 1001 sold in the first quarter 2006." Please note that Wells-Gardner is independent from IGT, there is no affiliation or supply relationship between Wells-Gardner and IGT, and IGT has nothing to do with the above referenced LCD monitors.
Founded in 1925, Wells-Gardner Electronics Corporation is a distributor and manufacturer of color video monitors and other related distribution products for a variety of markets including, but not limited to, gaming machine manufacturers, casinos, coin-operated video game manufacturers and other display integrators. During 2000, the Company formed a 50/50 joint venture named Wells-Eastern Asia Displays ("WEA") to manufacture video monitors in Malaysia. In addition, the Company acquired American Gaming & Electronics, Inc. ("AGE"), a leading parts distributor to the gaming markets, which sells parts and services to over 700 casinos in North America with offices in Las Vegas, Nevada, Egg Harbor Township, New Jersey and McCook, Illinois. AGE also sells refurbished gaming machines on a global basis as well as installs and services some brands of new gaming machines in casinos in North America.
This press release contains forward-looking statements within the meaning of the federal securities laws. Those statements include statements regarding the intent, belief or expectations of the Company and its management. Readers are cautioned that the forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and that actual results could differ materially from those expressed in any forward-looking statement. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, development of competing technologies, availability of adequate credit, interruption or loss of supply from key suppliers, our ability to increase production at our Malaysian joint venture, increased competition, the regulatory process and regulatory and legislative changes affecting the gaming industry. Wells-Gardner assumes no obligation to update the information contained in this release to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. For additional investor information, please contact Jim Brace - Wells Gardner at (708) 290-2120 or Alan Woinski - Gaming Venture Corp., USA at (201) 599-8484. DATASOURCE: Wells-Gardner Electronics Corporation CONTACT: Jim Brace of Wells Gardner, +1-708-290-2120, or Alan Woinski of Gaming Venture Corp., USA , +1-201-599-8484.
Web site: http://www.wgec.com/
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