SOURCE: Wells-Gardner Electronics Corp.

November 13, 2008 08:30 ET

Wells-Gardner Signs License and Supply Agreements With Dimension Technologies Inc. for 3D Products

Company Giving Private Presentations of the 3D Products to Many Customers at G2E

CHICAGO, IL--(Marketwire - November 13, 2008) - Wells-Gardner Electronics Corporation (AMEX: WGA) announced that the Company signed five-year exclusive license and supply agreements with Dimension Technologies Inc. (DTI) of Rochester, NY to market 3D products for the gaming, lottery, amusement and casino signage markets.

"We are very excited about the 3D technology we are licensing," said Robert Lube, Wells-Gardner's Vice President of Engineering. "The 3D technology has been designed specifically for the gaming market and incorporates a patented 2D/3D switch which allows game play in 2D, which is much more user friendly, eliminating eye strain. Possibilities are endless in the game play and game attract mode."

"This is the type of technology that IGT paid in excess of $10 million to license recently," said Anthony Spier, Wells-Gardner's Chairman and Chief Executive Officer. "This is a dramatic step in our strategy of developing proprietary products for our customers. We are making private presentations of this technology to many of our existing customers as well as some target customers at G2E starting next week in Las Vegas. We anticipate marketing these 3D products to our customers immediately and expect revenue to begin in 2009. We have developed what we believe are the best value 3D products in the market and we expect to obtain the leading market share in this space. We also expect to increase our LCD market share as a result of this development."

"We are very excited about the growth opportunity that our relationship with Wells-Gardner represents to feature and launch our patented 3D technology in the market," said Arnie Lagergren, CEO of Dimension Technologies Inc. DTI is the world leader in true three-dimensional imaging on flat panels without the use of special glasses. The Company owns major patents on this breakthrough technology. The goal at its founding in 1986 is its goal today: conduct leading edge research into the creation of real 3D images, and use that research to produce market-ready products and licensable technology.

Wells-Gardner amicably terminated its co-development agreement with The Software Game (TSG) recently.

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
    (708) 290-2120

    Alan Woinski
    Gaming USA Corporation
    (201) 599-8484