Progressive Gaming and Gaming Partners International Enter into RFID Technology Agreement
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LAS VEGAS--(Business Wire)--
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(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
About Gaming Partners International Corporation
Gaming Partners International Corporation, or GPI, manufactures
and supplies (under the brand names of Paulson(R), Bourgogne et
Grasset and Bud Jones(R)) 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(R) 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.
(C)2006 Progressive Gaming International Corporation(R). 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.
Progressive Gaming
Heather A. Rollo, 702-263-2583
Chief Financial Officer
or
Jaffoni & Collins Incorporated
Richard Land, Dave Jacoby
212-835-8500
pgic@jcir.com
or
Gaming Partners International
Dave Grimes, 702-598-2428
Chief Financial Officer
Copyright Business Wire 2008
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