LAS VEGAS, NV – April 17, 2008 – Progressive Gaming International
Corporation (NASDAQ: PGIC) (“Progressive Gaming”), a leading provider
of diversified technology and system solutions used in the gaming
industry worldwide, and Gaming Partners International Corporation
(NASDAQ: GPIC) (“GPI”), a leading provider of casino currency and table
game equipment, announced today an RFID technology agreement for the
development and integration of various 13.56 MHz PJM (Phase Jitter
Modulation) RFID enabled products and systems. The agreement enables
Progressive Gaming and GPI to leverage their extensive combined
experience with 13.56 MHz PJM High Frequency RFID technology to quickly
bring to market additional RFID enabled readers and gaming software,
providing a convenient entry point for casino operators looking to
adopt Progressive Gaming’s RFID hardware, player tracking and table
management systems technology.
The first readers
are expected to be commercially available in May 2008. Prototypes of
the chip tray, chip bank and vault readers were recently showcased in
the GPI exhibit booth at the International Casino Exhibition (ICE) 2008
in London and garnered favorable initial responses from the
international casino operators in attendance. The parties intend to be
able to release additional readers in the near future for products such
as, cage readers, tip boxes, roulette float, etc.
Bodo
Ischebeck, Vice President RFID and Table Management Systems for
Progressive Gaming, commented, “13.56 MHz PJM technology is well on its
way to establishing itself as the gaming industry reference for speed,
security and integrity and we are very excited about the opportunity to
further strengthen our long-standing relationship with GPI to
facilitate the adoption of this RFID technology. The ease and accuracy
with which the 13.56 MHz PJM technology operates affords our customers
the ability to greatly improve their performance in mission critical
areas such as game speed, security, accountability and tracking. We
look forward to working with GPI to expand upon our Chip Inventory
System and RFID enabled player tracking product offering to operators
worldwide.”
Gerard Charlier, President and CEO of
Gaming Partners International, commented, “13.56 MHz PJM technology
keeps gaining momentum with operators in the US and abroad, and GPI is
excited to enter into this agreement to help further advance the
deployment of this technology. This agreement extends our existing
relationship with Progressive Gaming and its partner, Magellan
Technology, to optimize the use of GPI chips embedded with
high-frequency 13.56 MHz PJM RFID. We are in the process of creating a
line of 13.56 MHz readers similar to our well established 125 KHz RFID
readers so that casinos interested in RFID have the possibility
to first start with simple chip tracking hardware and applications
compatible with Progressive Gaming systems and then move smoothly into
much more powerful Progressive Gaming integrated Chip Inventory or
Table Management Systems”.
The
13.56 MHz PJM RFID technology is licensed exclusively by Progressive
Gaming through its strategic partnership with Magellan Technology, the
providers of the RFID products and the PJM protocol used for item level
identification systems that provide reliable high speed processing of
items including stacked gaming chips.
About Progressive Gaming International Corporation®
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
About Gaming Partners International Corporation
Gaming
Partners International Corporation, or GPI, manufactures and supplies
(under the brand names of Paulson®, Bourgogne et Grasset and Bud
Jones®) gaming chips including 125 KHz and 13.56 MHz RFID chips, jetons
and plaques, low and high frequency RFID readers, wheels, tables,
layouts, playing cards, dice and other products that are used with
casino table games. GPI holds several patents for the embedding of RFID
in gaming chips and an exclusive license on two patents to make and
sell in the US RFID (all frequencies) chips and readers for chip
tracking. GPI is headquartered in Las Vegas, Nevada, with offices in
Beaune, France; San Luis Rio Colorado, Mexico; Atlantic City, New
Jersey; and Gulfport, Mississippi. GPI sells its casino products
directly to licensed casinos throughout the world. For additional
information about GPI, visit our web site at www.gpigaming.com
About Magellan Technology
Magellan Technology is a technology developer, manufacturer and
licensor of advanced read and write 13.56 MHz RFID systems. They design
and offer RFID chip inlets and a complete reader portfolio using Phase
Jitter Modulation (PJM) technology, which complies with the
International Standard ISO/IEC 18000 Part 3 Mode 2. PJM technology is
more than 10 times faster than other existing HF technologies. The PJM
StackTag® is unique in its capability to identify, read and write RFID
tags even when they are deeply stacked together. PJM products are
optimized for applications where many hundreds of tags are stacked
tightly or need to be identified reliably in fast moving dynamic
situations where tags are presented in all orientations. Magellan
licenses its PJM technology worldwide. For additional information about
Magellan, visit www.magellan-rfid.com.
Safe
Harbor Statements of Progressive Gaming under The Private Securities
Litigation Reform Act of 1995: This release contains forward-looking
statements, including statements regarding improved functionality and
benefits derived by the Company's casino customers from RFID
technology. 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 such differences include, but
are not limited to, the risk that the rollout of RFID related products
will be delayed or precluded, risks related to delays in the approval,
introduction, installation and customer acceptance of new products, the
status of the Company's strategic partnerships with third parties,
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, 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, the overall industry environment, 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 reports 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 as they occur.
©2006 Progressive Gaming International Corporation®. All rights reserved.
Safe
Harbor Statement of Gaming Partners International Corporation: This
release contains "forward-looking statements" based on current
expectations but involving known and unknown risks and uncertainties,
such as statements relating to the long term potential of the RFID
gaming chips market and the ability of Gaming Partners International to
capitalize on any such opportunities. Actual results or achievements
may be materially different from those expressed or implied. Gaming
Partners International's plans and objectives are based on assumptions
involving judgments with respect to future economic, competitive and
market conditions, its ability to consummate, and the timing of,
acquisitions and future business decisions, all of which are difficult
or impossible to predict accurately and many of which are beyond its
control. Therefore, there can be no assurance that any forward-looking
statement will prove to be accurate.
Factors that could cause
actual results to vary materially from these forward-looking statements
include: the failure of the industry to accept RFID technology or
problems with our RFID technology, any patent infringement issues, the
development of competing technologies by our competitors, the failure
of any supplier to timely deliver key raw materials for our significant
products, and any customer cancellation of a significant order included
in our backlog. Additional information concerning factors and risks
that could affect these forward-looking statements and Gaming Partners
International's financial condition and results of operations are
included in Gaming Partners International's Form 10-K for the year
ended December 31, 2007.
CONTACTS:
Progressive Gaming
Heather A. Rollo Richard Land, Dave Jacoby
Chief Financial Officer
Jaffoni & Collins Incorporated
;)
702/263-2583 212/835-8500 or pgic@jcir.com
Gaming Partners International
Dave Grimes
Chief Financial Officer
702/598-2428
