American Wagering Announces Keno Approval
PR Newswire - April 21, 1999 10:51
LAS VEGAS, April 21 /PRNewswire/ -- American Wagering, Inc. (Nasdaq: BETM) today announced that the Nevada Gaming Control Board granted approval for the implementation and operation of the Company's state wide, casino-linked, wide-area Keno System.
Before implementation of the system, the Company must still receive approval of the Nevada Gaming Commission. Upon final approval by the Commission, the Company expects to begin a test field trial of the system with a few select casinos within the next few weeks.
Commenting on the approval, Victor Salerno, Chairman and CEO of American Wagering said, "The Company's system will be the first state wide Keno system. We believe Keno can be operated similar to our successful sportsbook network. The Company plans on offering the system not only in Nevada but in jurisdictions in the United States and the international casino market. This new market for AWI includes casinos which have not been able to offer Keno or casinos which will continue to offer Keno with a more exciting product. This will be accomplished by utilizing the networking ability that AWI uses to operate approximately 50 sportsbooks in Nevada. We look forward to the approval and implementation of this new Keno product. The plans for the product include a minimum million dollar progressive jackpot and the Company is also exploring the possibility of implementing Keno on the Internet in addition to its interactive sportsbook Internet operation."
American Wagering, Inc., owns and operates Leroy's Horse and Sports Place, the licensed bookmaker with the largest number of sports book locations (48) 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$ports. The Company also owns and operates a 150 room hotel/casino complex in Las Vegas and has formed an Australian Subsidiary to operate Mega$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, the occurrence of which involves certain risks and uncertainties including that American Wagering, Inc. takes financial risks on the outcome of sporting events and there can be no assurance that the operations of Keno will be profitable or that the approval for operation will be extended beyond its current term and uncertainties detailed in American Wagering's filings with the Securities and Exchange Commission.
SOURCE American Wagering, Inc.
/CONTACT: Robert Ciunci of American Wagering, 702-735-5529; or Alan R.
Woinski of Gaming Venture Corp., 201-947-4642/
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