|LAS VEGAS--(BUSINESS WIRE)--June 14, 2005--IGT's acquisition of these patents and the announcement of the worldwide product integration agreement between IGT, SHFL, and Progressive Gaming International Corporation emphasizes the importance of and is an endorsement for the RFID technology in the gaming industry. |
GPIC owns several patents for the embedding of RFID microchips in gaming chips as well as the exclusive license on patents now jointly owned by SHFL and IGT for the utilization of RFID chips and readers in the United States for tracking and accounting for RFID embedded gaming chips. GPIC sells RFID chips and readers directly to the casinos for Casino-Currency-Control and components, such as reader boards and antennas, to licensed Original Equipment Manufacturers (OEM) companies making their own pieces of equipment, particularly for players tracking.
"GPIC began imbedding RFID microchips (made by Phillips) about ten years ago and has gained unparalleled expertise and success in manufacturing RFID gaming chips. These chips have the exact same feel and quality as the gaming chips familiar to the dealers and gamblers. With RFID chips and readers casinos can control their own currency with total security and efficiency," Gerard P. Charlier, President and Chief Executive Officer of GPIC said.
GPIC manufactures these chips under the brand names of Chipsoft(TM) by Paulson, Smartchip(TM) by Bud Jones, and Safechip(TM) by B&G. GPIC has already sold in excess of 3 million of these RFID gaming chips and hundreds of readers to various casinos in Europe, the Far East and in the U.S., including the new Wynn Resort in Las Vegas.
The embrace of this technology by these OEM leaders and their new commitment confirms GPIC's long held belief that RFID technology represents the future of the gaming industry.
About the Company
GPIC manufactures and supplies gaming chips, table layouts, playing cards, dice, gaming furniture, table accessories and other products that are used with casino table games such as blackjack, poker, baccarat, craps and roulette. GPIC is headquartered in Las Vegas, Nevada, with offices in Beaune, France; San Luis, Mexico; and Atlantic City, New Jersey. GPIC sells its casino products directly to licensed casinos throughout the world. For additional information about GPIC, visit our web site at www.gpicgaming.com.
This press release may contain certain forward-looking statements that are subject to risks and uncertainties. GPIC's expectations regarding operating results and operating efficiencies, including the growth of new product markets, may not be met. Factors that could cause actual results to vary materially from these forward-looking statements include: timing and volume of customer demand for our casino products, timing of new casino openings and expansions, failure of the industry to accept RFID technology with respect to gaming chips and readers, potential patent infringement issues, domestic or international terrorists incidents, and unexpected taxes, charges, costs or difficulties in consolidating the operations of the companies. Additional information concerning factors and risks that could affect these statements and GPIC's financial condition and results of operations are included in GPIC's Form 10-K for the year ended December 31, 2004 and Form 10-Q for the quarter ended March 31, 2005.