American Wagering Announces Launch of Keno System
LAS VEGAS, Aug. 25 /PRNewswire/ -- American Wagering, Inc. (Nasdaq: BETM - news) today announced the successful launch of the Company's newest Keno product, ``The Game' at the Howard Johnson and Key Largo hotel and casino's in Las Vegas, Nevada.
The new and exciting Keno game was launched after receiving approval from the Nevada Gaming Commission to commence the field trial of the system. The system must operate for 30 consecutive days to complete the trial before being submitted for full approval for the distribution and sale to other casinos in Nevada. The Company has already begun negotiating contracts for the system in anticipation of a successful launch; however, there can be no assurance that final approval will be given.
``The Game' is a Keno system, which will link casinos statewide into one network and will include a progressive prize in the future. Like with the wide-area progressive slot systems around the world, ``The Game' will contain a progressive jackpot, which grows as more and more people play at all the casinos in the network. The progressive jackpot can be won by getting 10 out of 10 winning numbers. Using a themed screen, which will capture a person's attention unlike traditional Keno systems, ``The Game' is geared towards increasing the volume of Keno play by offering larger jackpots and exciting visual graphics. The Company plans to further interest from casino patrons in ``The Game' with the use of electronic betting devices.
Commenting on the launch, American Wagering, Inc. CEO Victor Salerno said, ``We are pleased to begin the field trial for this exciting Keno system. This product is yet another in our Company's line of products to be offered initially in Sports and Race Books but will eventually make its way into the other parts of the casino and hotel area. The interest from some of the larger casino operators in Nevada has been very strong and we look forward to receiving final approval on the system and announcing new contracts.'
American Wagering, Inc. owns and operates Leroy's Horse and Sports Place, the licensed bookmaker with the largest number of sports book locations (45) in the state of Nevada; CBS, the dominant supplier of sports and race book equipment and software in Nevada and creator and operator of Mega$ports. The Company also owns an Australian subsidiary which operates Mega$ports on the Internet.
The statements contained in this release, which are not historical facts contain forward-looking information with respect to plans, projections or future performance of American Wagering, Inc., the occurrence of which involves certain risks and uncertainties, including that American Wagering takes financial risks on the outcome of sporting events as a principal betting against the patrons; an increase or decrease in handle is not necessarily indicative of an increase or decrease in revenues or profits. There can be no assurance that ``The Game' will receive final approval or if approved, that it will be operated profitably. Investors should also examine other uncertainties detailed in American Wagering's filings with the SEC.
SOURCE: American Wagering, Inc.
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