Wednesday June 12, 7:01 am Eastern Time
SOURCE: GameTech International, Inc.
RENO, Nev., June 12 -- GameTech International, Inc., a leading supplier in the electronic bingo industry, today announced that the Texas Lottery Commission has dismissed an administrative complaint against GameTech for alleged violations of Texas law regarding bingo.
On June 10, 2002, the Commission, the agency that regulates bingo in the state of Texas, signed an Order adopting the recommendation of an administrative law judge who had exonerated GameTech and its distributor from any wrongdoing.
The Commission had alleged that certain provisions of GameTech's written contract with one of its Texas distributors violated the Texas Bingo Enabling Act. In January of 2002, an administrative law judge heard the Commission's complaint and concluded that GameTech was not in violation of Texas law and recommended dismissal of all allegations against GameTech. The Commission has now issued an Order affirming the examiner's decision in favor of GameTech.
Clarence Thiesen, GameTech's Chief Executive Officer, commented: "We are pleased with the outcome, which we regard as vindication of this issue in Texas, and we remain committed to serving our customers in Texas."
GameTech International, Inc. is a leading supplier of a comprehensive line of electronic bingo equipment, including hand-held bingo units, fixed base units and turnkey accounting and management software. The company supports its bingo operator customers with products that increase play, revenues and profits, and software customized to enhance management and operations, all backed by unparalleled customer service.
Certain statements contained in this document may be deemed to be forward looking statements under federal securities laws, and GameTech intended that such forward looking statements be subject to the safe harbor created thereby. Such forward-looking statements include but are not limited to expectations of the financial growth and operating results of the company. GameTech cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward looking statements contained herein. Such factors include, but are not limited to (a) changes in the markets for the company's products; (b) the failure of new products to deliver commercially acceptable performance; and (c) changes in the regulatory environment for the Company's products and the ability of the Company and its products to be licensed; and (d) the ability of GameTech's management, individually or collectively, to guide the company in a successful manner. Additional information on these risk factors that could potentially affect the company's financial results may be found in documents filed by the company with the Securities & Exchange Commission.
SOURCE: GameTech International, Inc.