Advanced Gaming Technology Inc. Considers Branson Bingo Facility
LAS VEGAS--(BUSINESS WIRE)--Sept. 29, 1999--Advanced Gaming Technology Inc. (OTC BB:ADVI) today announced that it is considering a plan to develop and operate the world's largest electronic bingo facility near Branson, Missouri.
The facility would be built for the benefit of various religious and charitable organizations conducting bingo games as authorized by the Missouri Bingo Statutes and Regulations.
The company currently owns approximately 170 acres of land in Stone County, Missouri, fronting Highway 265, less than two miles from the heart of Branson. Branson is a major leisure travel and entertainment destination. The demographics of the visitors are well suited to a bingo facility.
Daniel H. Scott, president of Advanced Gaming Technology, commented: "The establishment of a quality bingo facility is a natural complement to the existing forms of entertainment that have made Branson so successful. The chance to create new job opportunities, attract additional visitors and raise funds for the benefit of charity is a win-win situation for everyone involved."
Advanced Gaming Technology would lease the facility to the various charitable organizations. The company would also provide its electronic bingo systems to the operation. The company anticipates that a temporary facility could be open during the year 2000. A permanent facility could follow within two years.
Branson has become a major destination for leisure travel and tour operators targeting retired travelers. An estimated 7 million travelers visited Branson during 1998, generating tourism revenue in excess of $1 billion.
Advanced Gaming Technology provides specialized technology to the gaming industry including electronic bingo systems. The company is currently considering joint venture partners and charitable organizations for the facility. Inquiries can be made by telephone to 702/227-6668, or can be sent to P.O. Box 46855, Las Vegas, Nevada 89114.
This news release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and other applicable securities laws. All statements other than statements of historical fact are "forward-looking statements" for purposes of these provisions, including, without limitation, any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objectives of management for future operation; any statements concerning proposed new products, services or developments; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing. Such forward-looking statements are subject to inherent risks and uncertainties, and actual results could differ materially from those anticipated by the forward-looking statements.
CONTACT: Advanced Gaming Technology Inc., Las Vegas
Daniel H. Scott, 702/227-6578
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