September 21, 1999 09:16
On-Point Technology Systems, Inc. Unveils Next Generation Products for the Lottery Industry; On-Line Technology Enables Progressive Jackpots For Instant Lotteries
SAN MARCOS, Calif.--(BUSINESS WIRE)--Sept. 21, 1999--On-Point Technology Systems, Inc. ("On-Point") (Nasdaq:ONPT), today reported that its lottery division unveiled its new generation lottery products at the North American State & Provincial Lotteries (NASPL) annual conference and trade show, held September 21 to 25, 1999 in Halifax, Nova Scotia, Canada.
On-Point demonstrated the first on-line instant ticket ever to be dispensed through an automated vending unit. On-Point's patented dispenser technology permits the reading and activation of the instant ticket during the vending process. This key feature, when combined with communications connectivity, provides lotteries worldwide with the capability to create progressive super jackpots, the kind that are only possible with on-line technology.
On-Point also unveiled its next generation dispensing technology. Showcasing its design ingenuity, the company demonstrated its automated instant ticket vending terminal ("PlayPoint(TM)") and its automated instant ticket counter-top dispensing terminal ("CounterPoint(TM)"). PlayPoint(TM) is engineered to provide the most advanced electronic, software, communications and dispensing capabilities of any currently deployed instant ticket vending machine. PlayPoint(TM) is expected to be available in the fourth quarter of 1999. CounterPoint(TM) is designed to be the most flexible automated countertop dispensing system in the world. CounterPoint(TM) provides unparalleled installation options for the convenience of the lottery retailer, while enhancing security and automating inventory control and accounting. CounterPoint(TM) is marketed in two models, one of which is available now and the other is expected to be available in the first quarter of 2000.
"The convergence of technologies in both PlayPoint(TM) and CounterPoint(TM) provides lotteries with the platform on which dynamic new features can be designed into instant ticket games," stated Frederick Sandvick, Chairman and Chief Executive Officer of On-Point. "By virtue of their sophisticated communications capabilities, both products provide our customers with the benefits of real-time system monitoring. In addition, On-Point's patented on-line instant ticket feature will for the first time enable lotteries to provide instant game players with the appeal and excitement of a progressive jackpot, where each ticket sold adds to the potential payout. We believe that this new feature could have a tremendous impact on instant ticket sales."
About On-Point Technologies
On-Point provides effective technologies for transaction automation. Three operating divisions, On-Point Lottery Technologies, On-Point Vending Technologies and e-Point Technologies, form the core of the company's market-driven strategy. On-Point pioneered the development of the instant ticket vending machine for lotteries worldwide and is one of the world's largest providers of these and other high-security vending products. On-Point designs, sells, leases and services high-security vending machines both domestically and internationally and has begun to market the delivery of automated electronic solutions for high-volume, cash-oriented transactions.
Any forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Act of 1995. Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, continued acceptance of the company's products and services in the marketplace, competitive factors, new products and technological changes, the company's successful entry into new markets, the company's successful transition to its next generation product line, dependence upon third-party vendors, a limited number of customers, political and other uncertainties related to customer purchases, and other risks detailed in the company's periodic filings with the Securities and Exchange Commission.
CONTACT: Lippert/Heilshorn & Associates
Lillian Armstrong / David Barnard, 415/433-3777
lillian@lhai-sf.com / david@lhai-sf.com
Keith Lippert, 212/838-3777
or
On-Point Technology Systems, Inc.
Sam W. Stearman, 760/510-4900
|
