Attached files
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| 8-K - Gaming Partners International CORP | v195333_8-k.htm |
Exhibit 99.1
Gaming Partners International and
International Game Technology Enter Into RFID License and Transfer
Agreement
GPI to strategically unite RFID
technologies with acquisition of certain rights from IGT
Las Vegas, Nevada, - August 26, 2010
– Gaming Partners International Corporation
(Nasdaq: GPIC), a worldwide leader of casino currency and table games equipment,
announced that it has entered into an RFID License and Transfer Agreement with
International Game Technology (NYSE: IGT) covering certain high-frequency RFID rights and
products including software related to a Chip Inventory System (“CIS”), a newly developed communication
platform to integrate RFID data into a variety of casino management systems and
a license to certain other RFID related intellectual property and
assets.
As a result of the agreement, GPI has
acquired the ability to develop, manufacture and distribute additional
high-frequency RFID products and systems worldwide. Together IGT and GPI will
provide for transition of sales, support and service of
IGT’s current high-frequency RFID
customers.
Casinos worldwide continue to increase
their desire for RFID technology in both low (1.25 KHz) and high (13.56 MHz)
frequencies. Previously, GPI held rights and licenses for low-frequency RFID products and software
systems, as well as limited rights for high-frequency products. This
transaction, which provides GPI access to certain RFID related intellectual
property for the 13.56 MHz Phase Jitter Modulation technology and the
rights to IGT’s CIS, will enable GPI to converge RFID
applications for the two frequencies and add improved functionality, security
and communications with a range of casino systems.
GPI’s low-frequency and IGT’s high-frequency systems have been the
most widely implemented
chip tracking technology in the marketplace. Both employ RFID-based capabilities
to provide casino operators with the tools necessary to maintain an accurate
real-time inventory of the entire stock of chips, and securely and efficiently
transfer gaming chips to each table across
the casino floor into the cage areas and all validation
points. Subsequent to this transaction, GPI’s customers will now have a larger array
of RFID options and solutions.
“Our leadership in gaming currency and
RFID products makes GPI the logical choice for unifying these
technologies,” GPI
President and CEO Greg Gronau commented. “This acquisition will aid in the
expansion of our opportunities in RFID systems both in terms of sales or RFID hardware and the
licensing of software. This will allow our customers to better secure its
currency, authenticate chips, gather other data at the table and cage, while
linking with a casino’s backend system. We have a
strong relationship with IGT and will be working closely with
them to provide our customers with a smooth transition,” Gronau concluded.
“This
transaction will allow our mutual customers to enjoy the technological and
creative benefits that will undoubtedly arise from uniting disparate pools of
RFID technology under a pit-focused organization like GPI," states Javier Saenz,
VP Network Systems. "IGT is committed to serving its customers
not only directly with its own market-leading products but also through
third-party relationships with companies like GPI.”
About Gaming Partners International
Corporation
GPIC manufactures and supplies (under
the brand names of Paulson®, Bourgogne et Grasset® and Bud Jones®) casino chips, including plaques and jetons and
low frequency and high frequency RFID chips, low and high frequency RFID
readers, table layouts, playing cards, table accessories, gaming furniture,
dice, roulette wheels, and other products that are used with casino table games such as blackjack, poker,
baccarat, craps, and roulette. GPIC is headquartered in Las Vegas, Nevada, with
offices in Beaune, France; San Luis Rio Colorado, Mexico; Atlantic City, New
Jersey; and Gulfport, Mississippi. GPIC sells its casino products directly to licensed casinos
throughout the world. For additional information about GPIC, visit our web site
at www.gpigaming.com.
About
IGT
International
Game Technology (NYSE: IGT) is a leader in the design, development and
manufacture of gaming machines and systems products worldwide. More information
about IGT is available at www.IGT.com.
Safe Harbor
Statement
This release contains “forward-looking statements” based on current expectations but involving known and
unknown risks and uncertainties, such as statements relating to anticipated
future sales or the timing thereof; the long-term growth and prospects of our
business or any jurisdiction; the duration or effects of unfavorable economic conditions which may
reduce our product sales; and the long term potential of the RFID gaming chips
market and the ability of Gaming Partners International to capitalize on any
such growth opportunities. Actual results or achievements may be materially different from those
expressed or implied. Gaming Partners International’s plans and objectives are based on
assumptions involving judgments with respect to future economic, competitive and
market conditions, the timing and its ability to consummate, acquisitions, and future business
decisions and other risks and uncertainties identified in Part I-Item 1A, “Risk Factors” of the Company’s Form 10-K for the period ended
December 31, 2009, all of which are difficult or impossible to predict
accurately and many of which are beyond its
control. Therefore, there can be no assurance that any forward-looking statement
will prove to be accurate.
For more Information please
contact:
For Gaming Partners International
Corporation:
Gerald W. Koslow
702-598-2401
jkoslow@gpigaming.com
For International Game
Technology:
Craig S. Billings
702-669-7695
craig.billings@igt.com
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