Progressive Gaming Approved for Product Trials
LAS VEGAS Progressive Gaming International Corporation (NASDAQ:PGIC), (the Company) a leading provider of diversified technology and content products and services used in the gaming industry worldwide, announced today that it has received approval for a 30 day field trial for its Rapid Bet Live product from the Nevada Gaming Control Board. This field trial is expected to commence at the Palms Hotel and Casino (the Palms) and is designed to enable patrons to place live, real time-time wagers on professional and collegiate basketball, hockey, football and baseball. The Palms has one of the leading edge sport book operations in Nevada.
Vice President of Global Marketing Tim Richards stated: "We have achieved the first milestone in our server-based initiative related to sports wagering. We expect to reach similar milestones in the rollout of the peer to peer and slot game station elements of our server-based wagering technology later in the current fiscal year. We expect full commercial roll out of Rapid Bet Live shortly after the completion of this 30 day field trial in Nevada and internationally for regulated casino wagering markets. The key intended elements of the business model for Rapid Bet Live are to increase the volume of wagers and hold from traditional sports book levels while we receive a daily fee from the casino operator."
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.
2006-02-27
