SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : GameTech Int'l. GMTC < SATELLITE Bingo and more >
 Public ReplyPrvt ReplyMark as Last ReadFileNext 10PreviousNext  
To: Instock who wrote ()1/9/1998 9:02:00 PM
From: Jags  Read Replies (2) of 400
 
FROM A press release:

Commenting an certain non-core operations, Mr. Fedor went on to say that The Satellite Bingo Network, (TSBN),
which began operations on December 1, 1997, has incurred losses due to a number of large bingo halls which had
agreed to participate, delaying their participation. Additional halls are currently being added with the expectation of
stronger participation in the second quarter. International market development for GameTech has been delayed due to
factors beyond GameTech's control. In December 1997, Typhoon ''Paka'', the most devastating typhoon in Guam's
history, caused extensive damage throughout the entire island, including the hall we were planning to lease. We are
currently reviewing alternative sites. However, this will delay the start up of this operation. The financial crisis in Asia
and the devaluation of the Philippine peso has caused the company to which we will be supplying units to slow their
installations. We are proceeding with this venture and continue to pursue this opportunity. GameTech had planned to
introduce a new progressive bingo game in 1998. The recent actions of the U.S. Attorney in Oklahoma with regards to
Multimedia's, ''MegaMania'' game has cast doubt on the legality of such a game in certain states. Until the U.S.
Attorney's office in Oklahoma and the National Indian Gaming Commission have reached an agreement on the legality
and classification of this game, GameTech will delay introduction of its proposed progressive link game. The
aforementioned matters may delay the realization of revenues originally projected for 1998, but do not impact
GameTech's future potential or its core operations.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFileNext 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News