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June 22, 2007
DigiDeal Press Release 07-07 |
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(RENO, Nev., June 22, 2007) –– International Game Technology (NYSE: IGT) announced today that it has closed its previously announced investment in Digideal Corporation, a gaming technology company based in Spokane Valley, WA. Financial terms related to the investment were not released.
In connection with its investment, IGT has received access to Digideal’s intellectual property portfolio, a five-year term of exclusive manufacturing and distribution rights for Digideal products, and an option to acquire Digideal within five years.
Digideal’s primary technology is a patented electronic table game platform, and IGT expects to work jointly with Digideal to expand Digideal’s game content library and electronic table game products.
“IGT is excited to complete this strategic investment in Digideal and to expand our product offering in the electronic table game market,” said Tim Richards, Director of Table Products for IGT. “We look forward to the opportunity to leverage Digideal’s intellectual property portfolio and engineering talent with IGT’s depth of research and development resources.”
“Digideal is eager to move forward in this next chapter of our company,” said Michael Kuhn, Digideal’s CEO. “As the electronic table game market continues to evolve, Digideal can now better leverage its strong pool of innovative game platforms and content.”
International Game Technology (www.IGT.com) is a global company specializing in the design, development, manufacturing, distribution and sales of computerized gaming machines and system products.
Digideal (www.digideal.com), a privately held Nevada corporation based out of Spokane Valley, WA, is a designer and inventor of products for the gaming industry.
Statements in this release, which are not historical facts, are “forward looking” statements under the Private Securities Litigation Reform Act of 1995. Although IGT believes that the expectations reflected in any of its forward-looking statements are reasonable, actual results could differ materially from those projected or assumed. IGT’s future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent known and unknown risks and uncertainties. IGT does not intend, and undertakes no obligation, to update forward-looking statements to reflect future events or circumstances.
Information on risks and factors that could affect IGT’s business and financial results are included in our public filings made with the Securities and Exchange Commission.
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