SOURCE: Wells-Gardner Electronics Corp.

April 23, 2008 09:35 ET

Wells-Gardner Announces Wide Ranging Agreement With Axiomtek of Taiwan

CHICAGO, IL--(Marketwire - April 23, 2008) - Wells-Gardner Electronics Corporation (AMEX: WGA) announced that it signed a wide ranging supply agreement with Axiomtek of Taiwan.

"With this agreement with Axiomtek, Wells-Gardner will be able to offer our customers a wide range of cost effective manufacturing services starting with bezels, doors and top box assemblies and eventually complete game cabinets including motherboards and other sub assemblies in addition to video displays. This is part of our continuing strategy to develop proprietary products for our customers," said Anthony Spier, Wells-Gardner's Chairman and Chief Executive Officer. "In addition, Axiomtek will be our 2nd source of LCD manufacturing in Mainland China, thereby mitigating our risk and that of our customers."

"We are excited about the new products and new concepts that we can introduce to our customers," noted Wally Sa'd, Wells-Gardner's Vice President of Global Sales. "We plan to commence marketing these products immediately."

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, Egg Harbor Township, 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

  • Contacts:
    Jim Brace
    Wells-Gardner
    (708) 290-2120

    Alan Woinski
    Gaming USA Corporation
    (201) 599-8484