SOURCE: Wells-Gardner Electronics Corp.

May 15, 2007 11:00 ET

Wells-Gardner Announces That Its AG&E Subsidiary Is Offering Aristocrat LCD Retrofit Kits for Sale to Casinos in North and South America

CHICAGO, IL -- (MARKET WIRE) -- May 15, 2007 -- Wells-Gardner Electronics Corporation (AMEX: WGA) announced that its wholly owned subsidiary American Gaming & Electronics (AG&E) has been given authorization by Aristocrat Technologies, Inc. to sell Aristocrat LCD retrofit kits to all casinos throughout North America, the Caribbean and Central and South America.

"We are delighted that Aristocrat has the confidence in AG&E to successfully offer factory authorized LCD retrofit kits for sale to all casinos to replace CRT monitors in their Aristocrat gaming machines," said Anthony Spier, Wells-Gardner's Chairman and Chief Executive Officer. "There is a large installed base of Aristocrat video gaming machines in North America, and this represents an excellent opportunity for AG&E. We unveiled these new products at the Wells-Gardner booth at the G2E show in Las Vegas last November. We will be shipping these products immediately."

"We are pleased to be working with our long time LCD vendor Wells Gardner and their distribution subsidiary AG&E to better service our American customers," said Jason Walbridge, Aristocrat Technologies, Inc. Senior Vice President of Integration and Service. "AG&E will be offering our customers Aristocrat authorized LCD retrofit kits, which are essentially the same LCDs we install in our newest gaming machines. This should give our customers confidence that they are receiving very high quality products that have been tested and approved by our engineering and quality personnel."

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. During 2000, the Company formed a 50/50 joint venture named Wells-Eastern Asia Displays ("WEA") to manufacture CRT monitors in Malaysia. The Company has most of its LCDs manufactured in Mainland China. In addition, the Company acquired American Gaming & Electronics, Inc. ("AGE"), a leading parts distributor to the gaming markets, which sells 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, our ability to increase production at our Malaysian joint venture and our Chinese LCD sub-contractor, 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. All press releases and SEC filings are available on the Wells-Gardner website accessible on www.wellsgardner.com by clicking Company and then clicking News. For additional investor information, please contact Jim Brace - Wells Gardner at (708) 290-2120 or Alan Woinski - Gaming Venture Corp., USA at (201) 599-8484.

Contact Information

  • Jim Brace
    Wells Gardner
    (708) 290-2120

    Alan Woinski
    Gaming Venture Corp., USA
    (201) 599-8484.