RENO, Nev., June 11 /PRNewswire-FirstCall/ -- GameTech International, Inc. ('GameTech(R)') (Nasdaq: GMTC), a leading designer, developer and manufacturer of electronic bingo, gaming equipment, gaming systems, and video lottery terminals, announced today that it has entered into a distributor agreement with Goodtime Action Games, the largest distributor of bingo products, services and games in the Texas bingo market.
With this agreement, Goodtime Action Games will market, sell and support GameTech products to bingo operators throughout Texas. This agreement further expands the opportunities for GameTech and Goodtime Action Games to provide bingo customers with the most innovative and compelling products in the market today.
'Texas is one of the largest and most dynamic bingo markets anywhere and Goodtime Action Games is a real leader and innovator in that market,' said Jay Meilstrup, GameTech's President and Chief Executive Officer. 'We are especially excited to have the opportunity through this partnership to further grow our business in Texas and be able to reach even more customers with GameTech's products because we know that our products can fundamentally improve performance and enhance the customer experience for bingo operators. Now, with Goodtime Action Game's very strong presence in Texas, we jointly have new opportunities to deliver this value to bingo customers in this very exciting market.'
The GameTech and Goodtime Action Games distribution partnership was entered into within the context of a record year for bingo receipts in Texas in 2008. The Texas charitable bingo market is one of the largest in North America with 2008 gross receipts surpassing $684 million, the highest number since the game was legalized in Texas in 1981. There are approximately 1100 non-profit organizations conducting charitable bingo games in the Texas market.
GameTech International, Inc. is in the business of designing, manufacturing, and marketing computerized bingo and gaming equipment, systems, and services. Under the GameTech(R) product brand the company provides electronic bingo systems and equipment, and is an innovator in advanced wireless gaming applications and devices. Under the Summit Gaming(TM) product brand the Company provides video lottery terminal devices, Class III gaming machines, and related software and content. GameTech International, Inc. serves customers in 43 U.S. States, Canada, Japan, Mexico, Norway, Philippines, and the United Kingdom. The company was incorporated in 1994 and is headquartered in Reno, Nevada.
Statements in this press release that are not historical facts are intended to be forward-looking statements subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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 risks associated with doing business in a regulated industry, our ability to retain customers and secure new customers, risks associated with rapid technological change, and those disclosed in documents filed by the Company with the Securities and Exchange Commission, including the Company's most recently filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. GameTech does not intend, and undertakes no obligation, to update our forward-looking statements to reflect future events or circumstances.
SOURCE GameTech International, Inc.
