SOURCE: Wells-Gardner Electronics Corp.

Wells-Gardner Electronics Corp.

November 17, 2009 08:30 ET

Wells-Gardner Reports Its Subsidiary American Gaming & Electronics Has Signed a Letter of Intent to Distribute SPIELO Terminals Into Illinois VLT Market

CHICAGO, IL--(Marketwire - November 17, 2009) - Wells-Gardner Electronics Corporation (NYSE Amex: WGA) announced that its wholly owned subsidiary American Gaming & Electronics, Inc. (AG&E) has signed a nonbinding letter of intent to distribute SPIELO Manufacturing ULC Video Gaming Terminals (VGTs) to licensed Illinois VGT operators.

"We are delighted to expand our more than 20 years' association with SPIELO, an affiliate of GTECH Corporation," said Anthony Spier, Wells-Gardner's Chairman and Chief Executive Officer. "SPIELO is one of the top manufacturers with proven high quality products that have consistently demonstrated superior earnings in operator-run VLT markets. Their products are top earners in the states of Montana, Oregon and South Dakota as well as in Sweden, Iceland and many lotteries throughout Canada."

"We plan to have our VGT team showing the SPIELO terminals for the Illinois VGT market at SPIELO's booth #1284 at the Global Gaming Expo starting in Las Vegas on Tuesday, November 17th."

"We look forward to working with a high-quality distributor with Wells-Gardner's and American Gaming & Electronics' reputation," said Robin Drummond, SPIELO's Vice President of Sales. "We're excited to deliver our high-earning prodiGi Vu VGT and our top-performing multi-game line-up to the operators in the Illinois market."

The prodiGi Vu™ terminal features a player-driven design that greatly enhances player comfort and enjoyment. It includes optimal screen heights and button panel locations, dual 22"-wide screen LCDs, standard left/right play buttons, remote play buttons, an award winning full-color digital button panel, wrist rest, and multi-channel audio, all with a design that offers value-driven innovation. The prodiGi Vu is also designed for dynamic content capability and is network-gaming ready.

Founded in 1925, Wells-Gardner Electronics Corporation is a distributor and manufacturer of color video monitors and other related distribution products for a variety of markets including, but not limited to, gaming machine manufacturers, casinos, coin-operated video game manufacturers and other display integrators. The Company has the majority of its LCDs and CRT monitors manufactured in Mainland China. In addition, the Company's American Gaming & Electronics, Inc. subsidiary ("AGE"), a leading parts distributor to the gaming markets, sells parts and services to over 700 casinos in North America with offices in Las Vegas, Nevada, Hammonton, New Jersey, Miami, Florida and McCook, Illinois. AGE also sells refurbished gaming machines on a global basis as well as installs and services some brands of gaming machines in casinos in North America.

This press release contains forward-looking statements within the meaning of the federal securities laws. Those statements include statements regarding the intent, belief or expectations of the Company and its management. Readers are cautioned that the forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and that actual results could differ materially from those expressed in any forward-looking statement. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, development of competing technologies, availability of adequate credit, interruption or loss of supply from key suppliers, increased competition, the regulatory process and regulatory and legislative changes affecting the gaming industry. Wells-Gardner assumes no obligation to update the information contained in this release to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. For additional investor information, please contact Jim Brace -- Wells-Gardner at (708) 290-2120 or Alan Woinski -- Gaming USA Corporation at (201) 599-8484.

Contact Information

  • For additional investor information, please contact:
    Jim Brace
    Wells-Gardner
    (708) 290-2120

    Alan Woinski
    Gaming USA Corporation
    (201) 599-8484