AGTI-NEWS:
Advanced Gaming Technology Announces Negotiations To
Achieve a Plan of Re-Structure to Advance the Company
PR Newswire - December 03, 1997 09:33
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DENVER, Dec. 3 /PRNewswire/ -- Advanced Gaming Technology, Inc.
(Nasdaq: AGTI) today announced the Company is currently in negotiations with
qualified investors who will be instrumental in funding the Company and in
achieving a plan of re-structure in order to advance the Company from research
and development to profitable operations.
The plan includes the appointment of a new Board of Directors, the
organization of an Advisory Board, and a review of current management. The
implementation of this plan will focus the Company on its core business, the
MAX Bingo Systems.
Mr. Robert Silzer, Chairman and CEO stated, "Advanced Gaming has numerous
patents on its state-of-the-art technology for electronic bingo that will take
AGT beyond the leading edge of technology. The next step is to deliver bottom
line profits. The Company, in order to get to that next level, needs new
leadership, and I am heading that effort, including the replacement of my own
position with the Company."
The Company also announced that an executive search for a new Chief
Executive Officer has begun. This individual will be responsible for the
execution of the plan of re-structure. The current management team is
committed to remain with the Company at the discretion of the new Chief
Executive Officer.
Advanced Gaming Technology, Inc. designs, manufactures, markets and
services patented and proprietary gaming systems, including technologically
advanced electronic bingo systems. The Company is a major suppler of
electronic gaming systems, offering increased play potential and revenue to
gaming operators. Its stock trades under the symbol AGTI on the NASD
Electronic Bulletin Board.
SOURCE Advanced Gaming Technology, Inc.
/CONTACT: Chris Sargent of AGT Investor Relations, 604-689-8841/
(AGTI) |
