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Non-Tech : What's the next hot gaming stock???????? -- Ignore unavailable to you. Want to Upgrade?

To: cash money who wrote (48)	9/9/1999 11:12:00 AM
From: lindalib	Read Replies (1) \| Respond to of 54

Casino cash and credit: AGOURA HILLS, Calif.--(BUSINESS WIRE)--Sept. 9, 1999--Electronic Clearing House Inc. (Nasdaq:ECHO) Thursday announced a five-year strategic alliance agreement with InnoVentry, a company jointly owned by Wells Fargo and Company (NYSE:WFC) and Cash America (NYSE:PWN), to provide the Atreva(TM) Credit machine, credit card processing, and 24 x 7 customer service for all credit card transactions in InnoVentry's casino business. ECHO, located in Agoura Hills, provides credit card processing, check guarantee, inventory tracking services and various Internet services to more than 19,000 retail merchants across the nation. The company also designs, develops and manufactures software and point-of-sale hardware that is used as credit card processing terminals, automated money order dispensers, inventory tracking devices, and casino cash advance systems. InnoVentry, located in San Francisco, is a company that is focused on the development and deployment of cash management machines for customers in entertainment venues, under the Atreva brand, and for customers in retail store environments under the RPM(TM) (Rapid Pay Machine) brand. The Atreva Credit, which features the smallest footprint in the Atreva product suite, can be used by casino patrons to initiate advances against their credit or debit cards. This machine complements InnoVentry's two larger machines -- the Atreva Express and the Atreva All-in-One. InnoVentry and ECHO jointly developed this machine for space-constrained casinos, along with a terminal and printer system that can authorize transactions to disburse cash at a casino cage. ECHO provides 24-hour customer service to both the casino employees who operate the cage systems and to the casino customers who use the kiosk units. To date, approximately 20 kiosk and cage-based systems have been deployed in several casino locations. These sites include The Venetian, The Resort at Summerlin and the Hard Rock Casino in Las Vegas. InnoVentry also announced today that ECHO will act as the transaction processing for all casino kiosks and cage-initiated credit card cash advance transactions handled through Atreva machines. For this service, ECHO maintains network connections to VISA, USA and MasterCard International, and provides authorization of credit card cash advance requests on a real-time basis. Frank A. Petro Jr., chairman and chief executive officer of InnoVentry, said, "We are pleased to have ECHO as our partner in providing an important solution that rounds out our suite of Atreva products." Joel M. Barry, chairman and chief executive officer of ECHO, said: "We are very excited to enter into this strategic partnership with a company and management team that already provides superior services to the casino industry -- and thus understands the needs of these demanding customers. Based on our success to date, it proved that we have a partnership that blends our expertise in product development with InnoVentry's marketing strengths." The financial terms of the agreement are not being disclosed; however, ECHO is responsible for the overall credit card settlement functions daily and shares a percent of the net proceeds from these transactions with InnoVentry. To take advantage of the new "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, readers are hereby cautioned that this release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Actual operations and results may differ materially from those expressed in the forward-looking statements made by the Company. --30--AJE/la* WAM/la CONTACT: Electronic Clearing House Inc., Agoura Hills Donna Camras, 818/706-8999, ext. 3033 E-MAIL: corp@echo-inc.com echo-inc.com KEYWORD: CALIFORNIA NEVADA INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED RETAIL INTERACTIVE/MULTIMEDIA/INTERNET Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Sep-09-1999 08:18 GMT Symbols: US;ECHO Source BW Business Wire