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Progressive Gaming to Install Casinolink(R) Enterprise Edition at Three Casino Resorts in Chile

Posted on: Thursday, 29 May 2008, 09:01 CDT

Progressive Gaming International Corporation (NASDAQ:PGIC), a leading provider of diversified products and services used in the gaming industry worldwide, announced today that its Casinolink(R) Enterprise Edition has been selected as the exclusive slot management system at new casino developments in Chile. The initial agreement represents a total of up to approximately 1,500 slot management system installations that are expected to occur in the third and fourth quarters of 2008 and represents up to approximately $2.3 million of the $3 million backlog of Latin America contracts reported by Progressive Gaming on May 12, 2008.

As part of the initial agreement, Progressive Gaming will install its Casinolink slot management system on all 800 slot machines at Casino Marina del Sol, located approximately 500 kilometers South of Santiago and adjacent to the city of Concepcion, the second largest metropolitan area in Chile. In addition to 800 slot machines, the $90 million complex is expected to open in September 2008 with 50 table games, 120 hotel rooms, a theater and several restaurants. Marina del Sol is a joint venture between the Clairvest Group and Valmar.

Michael Wagman, Managing Director of Clairvest, commented, "Deploying Casinolink on the entire slot floor of these facilities will provide us an integrated casino management solution to manage all aspects of our gaming floor. After carefully considering several different slot management systems, Clairvest and our partners chose Casinolink because it provides the most robust suite of tools to maximize our operating efficiencies and deliver an unparalleled gaming experience for our customers."

Russ McMeekin, President and Chief Executive Officer of Progressive Gaming, commented, "The selection of Casinolink at these resort casino entertainment complexes in Chile is an important step for Progressive as it marks our entree in a new Latin American market and further expands our rapidly growing footprint of casino management systems outside of the United States. Casinolink's leading-edge technology provides a customized solution to manage all aspects of their gaming floors on a highly scaleable platform, while delivering an attractive return on investment by optimizing the efficiency, security and entertainment value of their facilities. We look forward to working with our partners in Chile to enhance the gaming floors of these three exciting new resorts."

Built on the Microsoft(R).NET(TM) Framework, Casinolink is an innovative suite of proprietary gaming management system products that provide operators with all of the tools needed to analyze and mine the wealth of data collected by the various systems throughout the casino. Casinolink effectively monitors membership and player tracking to validate identification, facilitates player rewards enrollment, analyzes player performance, automates reporting and helps ensure responsible gaming. In addition to its player management features, Casinolink also offers complete cage control functionality that supports multiple currencies, seamlessly integrates with RFID Chip Inventory Systems, controls credit levels, monitors foreign exchange and enhances the player's experience by delivering a full suite of custom branded and prepackaged Jackpot and Mystery progressives.

About Progressive Gaming International Corporation(R)

Progressive Gaming is a leading supplier of integrated casino and jackpot management system solutions for the gaming industry worldwide. This technology is widely used to enhance casino operations and drive greater revenues for existing products. Progressive Gaming is unique in the industry in offering casino management and progressive systems in a modular yet integrated solution. Products include multiple forms of regulated wagering solutions in wired, wireless and mobile formats. There are Progressive Gaming products in over 1,000 casinos throughout the world. For further information, visit www.progressivegaming.net.

(C)2008 Progressive Gaming International Corporation(R). All rights reserved.

Safe Harbor Statements under The Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, including statements regarding anticipated new roll-outs of Casinolink(R) Enterprise Edition and related and underlying products such as RFID chips, the overseas demand for the Company's products, the performance of the Company's products, the expected benefits to be realized by the Company's customers as a result of its products, slot management systems installed base at the end of 2008 and beyond, the expense, and the anticipated impact of an increased installed base on the Company's financial performance for 2008 and beyond. 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 delays in the approval, introduction, installation and customer acceptance of existing and new products, the risk of delays related to the completion of Customer developments, the risk that additional capital for refinancing the Company's 11.75% Senior Notes and other working capital needs may not be available to the Company on favorable terms, or at all, the risk that markets for the Company's products are not as large as the Company anticipates or that competing products may reduce demand for the Company's products, the risk that the on-going relationship related to the sale of the Company's Table Games Division may not provide anticipated benefits, the risk that the Company may not realize expected annual savings from certain cost reduction initiatives, the risk that regulatory approvals may not be obtained when expected, or at all, 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 worldwide economic, political and social conditions as well as the Company's debt service obligations. 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. The Company cautions readers not to place undue reliance on any forward-looking statements. 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.

Source: Business Wire

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