Under the terms of the agreement, PGIC will promote GPI as its exclusive chip manufacturer in the United States and preferred chip manufacturer abroad. GPI will be the sole chip manufacturer dedicated by PGIC to sell 13.56 MHz RFID based peripheral readers in the U.S. and abroad.
Gaming Partners International and Progressive Gaming International Expand Relationship
Thursday November 30, 8:30 am ET
Companies Partner to Expand Use of 13.56 MHz RFID Technology in Casino Equipment
LAS VEGAS, Nov. 30 /PRNewswire-FirstCall/ -- Gaming Partners International Corporation (Nasdaq: GPIC - News; "GPI") the gaming industry's leading manufacturer and supplier of casino chips and other table game supplies, and Progressive Gaming International Corporation (Nasdaq: PGIC - News; "PGIC") a leading technology supplier to the gaming industry worldwide, today announced the formation of a strategic alliance that expands the two companies' existing relationship to develop and market casino currency control equipment incorporating 13.56 MHz RFID microchip technology.
Under the terms of the agreement, PGIC will promote GPI as its exclusive chip manufacturer in the United States and preferred chip manufacturer abroad. GPI will be the sole chip manufacturer dedicated by PGIC to sell 13.56 MHz RFID based peripheral readers in the U.S. and abroad. GPI already holds the exclusive license until 2015 in the United States on two key patents for the sale and use of RFID gaming chips and also for readers for chip security and monitoring purposes.
Additionally, the two companies have agreed to further integrate equipment, software and other products and technologies that make use of PGIC's 13.56 MHz RFID platform. GPI and PGIC will also work closely to develop and accelerate the availability of more comprehensive management and tracking systems to enable casinos to make greater use of the data provided by RFID embedded casino currency.
"Besides the already well developed 125 KHz RFID technology, GPI recognizes the potential of 13.56 MHz technology for both GPI and its customers worldwide. We believe that casinos will need an all encompassing platform, everything from gaming currency - to equipment - to software that analyzes and tracks data, in order to make the best use of high-speed RFID gaming technology," said Gerard P. Charlier, President and Chief Executive Officer of GPI.
Charlier continued, "By combining the synergistic expertise of both companies, we have created, and will continue to create, a robust suite of high-speed RFID products that we expect will better address the needs of the global casino gaming industry. We believe this strategic alliance is a winning combination that provides both GPI and PGIC with significant growth opportunities and greatly enhances our casino customers' ability to track player comps and centrally manage asset security."
President and Chief Executive Officer of Progressive Gaming Russ McMeekin stated, "We are excited at the opportunity of working with GPI to further expand our offering of RFID products. Being able to build off of GPI's existing products, knowledge and IP for currency tracking will help us provide more value-added products for our RFID customers, thereby driving even greater justification and ROIs when casinos make the decision to implement our technology."
Moreover, PGIC will lead the development of cage readers and other peripheral readers incorporating Magellan 13.56 MHz RFID technology and software. The companies will co-promote products developed by one another and products developed jointly through the alliance.
The agreement provides for an initial five year term and is automatically renewable for additional one year terms.
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