SOURCE: Wells-Gardner Electronics Corp.

May 03, 2007 12:45 ET

Wells-Gardner Announces Filing of Three New Patent Applications for Gaming Devices Involving LCDs

CHICAGO, IL -- (MARKET WIRE) -- May 3, 2007 -- Wells-Gardner Electronics Corporation (AMEX: WGA) announced that they had filed 3 new patent applications for gaming consoles involving LCDs.

"The filing of these patent applications is a continuation of our program to develop intellectual property particularly involving LCDs in gaming applications and to increase our value to stockholders as a technology company," said Anthony Spier, Wells-Gardner's Chairman and Chief Executive Officer. "This brings the number of patent applications to eight."

"Our three patent applications pertain to one software application to enhance LCD performance and two software/hardware applications that expands the flexibility of LCD usage," noted Robert Lube, Wells-Gardner's Vice president of Engineering.

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 a 50/50 joint venture named Wells-Eastern Asia Displays ("WEA") to manufacture CRT video monitors in Malaysia. The Company has entered into contracts to manufacture LCD video monitors with two different suppliers in Shenzhen and Shanghai, China. The Company's wholly owned subsidiary American Gaming & Electronics, Inc. ("AGE") is a leading parts distributor to the gaming markets selling parts and services to over 700 casinos in North America with offices in Las Vegas, Nevada, Egg Harbor Township, New Jersey 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, USA at (201) 599-8484.

Contact Information

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

    Alan Woinski
    Gaming USA Corporation, USA
    (201) 599-8484