you all asked me to post my leads here.. well check this:
Wednesday March 4, 12:19 pm Eastern Time
Company Press Release
SOURCE: Advanced Gaming Technology, Inc.
Advanced Gaming Technology, Inc. Announces Completion Of Distribution Agreement With K&B Sales, Inc.
VANCOUVER, March 4 /CNW-PRN/ - Advanced Gaming Technology, Inc. (OCTCBB:AGTI) today announced completion of a Distribution Agreement (Agreement) with K&B Sales, Inc. (K&B) of Dallas, Texas for the exclusive distribution of AGT's MAX(LITE) hand set in Texas. The State of Texas is the dominant market in the U.S. for bingo, generating retail sales of approximately $500 million per annum.
The alliance with K&B is in line with the Company's restructuring; forming strategic relationships with established entities to deliver the MAX Bingo System to the market in the most cost effective manner.
With the recently announced exclusive licensing agreement with Bingo Technologies Corporation (BTC) for the MAX(PLUS) and TurboMAX systems, coupled with this alliance with K&B, the Company is now fully represented in the State of Texas, the largest bingo market in the U.S., for its full range of products.
Under the terms of the Agreement with K&B:
- K&B is exclusively responsible for marketing, installing and servicing
of MAX(LITE) handset in the State of Texas for a period of 3 years;
- K&B will place the MAX(LITE) which will, on annualized bases, yield to
the Company in excess of $1,000 per unit placed;
- There is also a minimum placement target set for each year of the
term;
- AGT is responsible for providing the equipment, namely, the handset, a
controller's unit, and the peripheral equipment.
K&B Sales, Inc. is a private company, engaged in the distribution of gaming products for the past 20 years. K&B has approximately 30 employees; an established customer base of some 500 clients; and is one of the leading distributors in the State of Texas in the bingo industry.
Mr. Ken Griffiths, owner and president of K&B Sales, Inc. states, ''... the Texas Market for handsets like the MAX(LITE) is excellent, and we look forward to introducing this product to our established customer base. MAX(LITE) has the potential for significant market penetration in the State of Texas.''
Mr. Tom Nieman, Chief Executive Officer of AGT, states, '' ... this Agreement is consistent with the new AGT marketing strategy that was announced earlier this year. AGT will be creating more strategic alliances with well established partners to deliver our MAX Bingo Systems into their respective markets.''
Information provided herein by AGT contains, and from time to time AGT may disseminate materials and make statements which may contain ''forward-looking'' information, as that term is defined by the Private Securities Litigation Reform Act of 1995 (the ''PSLRA''). These cautionary statements are being made pursuant to the provisions of the PSLRA and with the intention of obtaining the benefits of the ''safe harbour'' provisions of the PSLRA. AGT cautions investors that any forward-looking statements made by AGT are not guarantees of future performance and that actual results may differ materially from those in the forward-looking statements as a result of various factions, including but not limited to the contingencies noted above.
Advanced Gaming Technology, Inc. creates, designs, markets patented and proprietary gaming systems and software including technologically advanced electronic bingo systems. The Company is a major supplier 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.
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