Under terms of the original agreement, signed in April 2001, MGAM secured distribution rights for Bally Gaming products in the Washington tribal casino market, with Bally Gaming receiving a royalty and a guarantee that MGAM will purchase a minimum number of products from Bally Gaming over a 36-month period.
Use of Bally's player stations also enables MGAM to quickly fill large orders in the rapidly expanding Native American market.
stockholders C or anyone with knowledge about this situation C should contact lawyer Hamilton Lindley at hlindley@dunnamlaw.
Given the recent operational progress at MGAM
and the fact that the shares now trade at approximately 3.
will make a decision within the next 30 days on whether or not to appeal the decision.
is investigating each of these opportunities in light of the Company's ability to use its interactive play station technology to increase profits.
This early Class III licensure positions MGAM
to take advantage of the market's continued expansion.
Currently, MGAM is one of only two suppliers in Washington State which have been approved by all appropriate state regulatory authorities, and are actually operating these revolutionary interactive lottery games.
Based on current information, each MGAM player station has the potential to earn an average of more than $200 per day for its casino customers.
We are especially indebted to the Squaxin Island Tribe and the Little Creek Casino's professional staff, who sponsored MGAM
in this endeavor.
Tim Stuart, Executive VP of MGAM
, stated, "This represents our first major order in Class II gaming since the flurry of orders we received after the Federal courts defined Class II gaming in November.
We believe MGAM
is the only machine manufacturer with test-lab approval; we also believe one other system supplier has completed laboratory testing, but they are using a modified version of an International Game Technology, Inc.