Tuesday September 24, 9:27 pm Eastern Time
SOURCE: GameTech International, Inc.
RENO, Nev., Sept. 24 GameTech International, Inc., a leading supplier of electronic bingo equipment, announced that the Company is cooperating with the Nevada Gaming Control Board ("NGCB") in an investigation into the possible misuse of electronic bingo units by a former GameTech employee. Late Monday evening, the NGCB asked GameTech to inform customers in the state of Nevada to stop the use of all of GameTech's electronic units pending the NGCB audit of those units.
Company officials received notice late Tuesday from the NGCB that its portable electronic bingo units had received clearance for play throughout Nevada. The 3,000 GameTech portable units comprise more than 90% of the Company's electronic bingo unit base in Nevada. Company officials expect to gain approval for reinstating its fixed base units upon successful review of the additional actions and safeguards the Company is proposing to the NGCB.
"The employee was one of the developers of the Company's software and one of only a very few individuals with the level of knowledge of the Company's software to circumvent the many safeguards in the system," said Clarence H. Thiesen, GameTech CEO. "By all accounts, he had been an exemplary employee, and we can only speculate regarding what caused him to do this. Unfortunately, we may never know, as he died Friday night of what authorities are indicating to the Company involved an apparent suicide."
GameTech's Nevada operations account for just under 6% of the Company's overall revenues. The Company does not expect any other jurisdictions to be affected by the Nevada closures.
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 statements relating to the magnitude and consequences of the misuse of the Company's electronic bingo units.
Source: GameTech International, Inc.