RENO, Nev., Jan 05, 2005 /PRNewswire-FirstCall via COMTEX/ -- International Game Technology
(NYSE: IGT) today announced the acquisition of substantially all of the assets
of its Canadian distributor, Hi-Tech Gaming, and the formation of IGT-Canada,
Inc., a new subsidiary that will support sales and service for customers
throughout Canada.
Hi-Tech Gaming has been in business since 1987 and has grown to become the
leading supplier of gaming equipment and services in Canada, providing the
majority of both slot machines and video lottery terminals for the Canadian
Gaming Industry.
Most of Hi-Tech's 43-person workforce joined IGT-Canada effective
January 1, 2005, subject to all appropriate regulatory notifications and
approvals.
Duane Frahm, director of VLT product sales for IGT, has been named
managing director of IGT-Canada and will move to Toronto to work out of the
IGT-Canada office there. Other former Hi-Tech offices, which will become
IGT-Canada offices, are located in Moncton, Montreal and Winnipeg. Hi-Tech
principals Owen MacNeil and Bill Hennessey have agreed to serve as consultants
to IGT-Canada.
The Canadian gaming and video lottery market has over 80,000 machines in
operation in provinces throughout the country.
"We are excited about the new combined organization and welcome Hi-Tech
and its employees into the IGT family," said TJ Matthews, IGT CEO. "IGT-Canada
will offer Canadian customers the best of both worlds with the same
uninterrupted support they have been receiving from Hi-Tech, along with
additional resources provided by IGT."
IGT (www.IGT.com) is a world leader in the design, development and
manufacture of microprocessor-based gaming and video lottery products and
software systems in all jurisdictions where gaming or video lottery is legal.
Statements in this release, which are not historical facts, are "forward
looking" statements under the Private Securities Litigation Reform Act of
1995. Although the Company 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 our 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.
SOURCE IGT
Patrick Cavanaugh, Director, Investor Relations of International Game Technology,
+1-866-296-4232, or
Ed Rogich, Vice President, IGT Marketing, +1-702-896-8690
http://www.prnewswire.com
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