Saturday September 28, 4:05 pm Eastern Time
SOURCE: GameTech International, Inc.
Texas Regulatory
Officials OK GameTech's Electronic Bingo Units
RENO, Nev., Sept. 28 -- GameTech International, Inc., a leading supplier of
electronic fixed base bingo equipment, announced that Texas regulatory officials
have completed their review of the Company's fixed base electronic bingo units
and approved the units for play at approximately 5 PM Pacific Standard time
Friday. On Wednesday, GameTech voluntarily shut down its fixed base units in
Texas as a precautionary measure while the company met with regulatory officials
to further ensure them of the integrity of the units. The Company's portable
units, which make up the vast majority of electronic bingo units in operation,
were not affected by this action.
The security of GameTech's fixed base units came into question after the Nevada Gaming Control Board began an investigation into the possible misuse of electronic bingo units by a former GameTech employee. After consultation with Texas and Mississippi authorities, the Company shut down units in those states. The Texas fixed base units account for approximately 6% of the Company's annual revenues.
We are pleased that the Texas regulatory officials have given us approval to reactivate our fixed base units and we appreciate the speed and cooperation in which they worked to test the system," said Clarence H. Thiesen, GameTech CEO. "While we were confident that the misuse was limited to fixed base units in the Las Vegas area, we wanted to satisfy officials in Texas that the system as modified was sound."
GameTech officials confirmed the employee who allegedly misused the system was one of the developers of the Company's software and one of only a very few individuals with the level of knowledge to circumvent the many safeguards in the system.
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 and the Company's continuing remedial actions in response.
Source: GameTech International, Inc.