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Progressive Gaming International to Announce First Quarter 2006 Operating Results

Posted on: Friday, 19 May 2006, 18:02 CDT

Progressive Gaming International Corporation (NASDAQ: PGIC) (the Company), a leading provider of content and technology used in the gaming industry worldwide, announced today that the Company's operating results for the three months ended March 31, 2006 will be published after the market closes on June 19, 2006. Management will host a conference call at 8:00 a.m. PT on June 20, 2006. The Company expects to file its quarterly report on Form 10-Q for the three months ended March 31, 2006 with the SEC on June 19, 2006. The additional time will allow for the Company's predecessor auditors to make available for review by Ernst & Young LLP, the Company's new independent registered public accounting firm, its files in the normal course of a change of auditors, and to enable an overall routine transition.

Interested parties may participate via teleconference by dialing 800-299-0148, passcode 11411400. International parties may participate by dialing 617-801-9711, passcode 11411400. The teleconference will be webcast on the Company's website at www.progressivegaming.net. A replay of the teleconference can be accessed for 30 days by dialing 888-286-8010, passcode 96476058, and international parties by dialing 617-801-6888, passcode 96476058, or on the Company's website at www.progressivegaming.net. The Company's website will also include any additional material historical financial or statistical information discussed in the conference call and not included in the release announcing the Company's operating results (as well as any non GAAP financial measures as defined by the SEC), if applicable.

In addition, the Company has received a customary Nasdaq Staff Determination indicating current noncompliance with Nasdaq's reporting requirements under Marketplace Rule 4310(c)(14) due to the delayed filing of the Company's quarterly report on Form 10-Q for the three months ended March 31, 2006. In accordance with Nasdaq's established procedures, the Company will request to review the Staff Determination with the Nasdaq Listing Qualifications Panel. However, due to the expected timing of the actual filing of this report as stated above, the Company believes that it will regain compliance with Nasdaq's Marketplace Rules within the next few weeks, and that such review will not be necessary.

About Progressive Gaming International

Progressive Gaming International is a leading supplier of Integrated Casino Management Systems Software and Games for the gaming industry worldwide. The Company develops and distributes an expanding array of slot and table games, plus management and progressive jackpot software systems.

The Company is unique in the industry in offering management and progressive systems, and games as a modular yet integrated solution. There is a Progressive Gaming International product in virtually every casino in the world. For further information, visit www.progressivegaming.net.

Safe Harbor Statements under The Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, including statements regarding the expected filing of the Company's Quarterly Report on Form 10-Q, the Company's transition to new independent auditors and the Company's compliance with the Nasdaq Marketplace Rules. 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, the risk that the Company may not file its Quarterly Report on Form 10-Q when expected, the risk that the Company will not regain compliance with the Nadaq Marketplace Rules when anticipated, or at all, the risk that Nasdaq's Listing Qualifications Panel may not grant the Company's request for continued listing on The Nasdaq Stock Market, 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. 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 such statements to reflect new circumstances or unanticipated events as they occur.

Source: Business Wire

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