Progressive Gaming International (MM) (NASDAQ:PGICD)
Historical Stock Chart
From May 2019 to May 2024
Progressive Gaming International Corporation (NASDAQ: PGICD) (“the
Company”), announced today that the Board of
Directors of the Company has engaged Roth Capital Partners, LLC to
assist the Company in reviewing strategic alternatives intended to
enhance shareholder value. The Company expects to consider and evaluate
available alternatives during the strategic review process including,
but not limited to, the sale of the Company.
The Company has not set any timetable for the conclusion of this
strategic review and does not intend to comment further publicly with
respect to this process unless or until a specific alternative is
approved by its Board of Directors. There can be no assurance that the
review process will result in the announcement or consummation of any
sale or other transaction.
About Progressive Gaming International Corporation®
Progressive Gaming is a trusted enterprise gaming solutions and supplier
of integrated casino and jackpot management systems for the gaming
industry worldwide. This technology is widely used to enhance casino
operations and drive greater revenues for existing products. Progressive
Gaming is unique in the industry in offering casino management and
progressive systems in a modular yet integrated solution. Products
include multiple forms of regulated wagering solutions in wired,
wireless and mobile formats. There are Progressive Gaming products in
over 1,000 casinos throughout the world. For further information, visit www.progressivegaming.net.
©2008 Progressive Gaming International
Corporation®. All rights reserved.
Safe Harbor Statements under The Private Securities Litigation Reform
Act of 1995: This release contains forward-looking statements, including
statements regarding a strategic review of the Company including the
potential sale of the Company. Such statements are subject to certain
risks and uncertainties, and actual circumstances, events or results may
differ materially from those projected in such forward-looking
statements. Factors that could cause or contribute to differences
include, but are not limited to, risks related to the Company’s
ability to satisfy the financial and other covenants included in its
lending agreements, delays in the approval, introduction, installation
and customer acceptance of existing and new products, the risk that
markets for the Company’s products are not as
large as the Company anticipates or that competing products may reduce
demand for the Company’s products, the risk
that the Company may not realize expected annual savings from certain
cost reduction initiatives, the risk that the on-going relationship
related to the relationship with PEM and IGT may not provide anticipated
benefits and costs related to the relationship could increase
materially, the risk that regulatory approvals may not be obtained when
expected, or at all, the status of rights licensed from content
providers, risks related to the Company's ability to enforce and develop
its intellectual property rights, including rights licensed from third
parties, the risk that patents may exist of which the Company is not
aware, or that existing patents may provide benefits to third parties
beyond those anticipated by the Company, the Company's ability to meet
its capital requirements, relationships with casino operators, the
overall industry environment, customer acceptance of the Company's new
products, further approvals of regulatory authorities, adverse court
rulings, production and/or quality control problems, the denial,
suspension or revocation of privileged operating licenses by
governmental authorities, competitive pressures and general economic
conditions as well as the Company's debt service obligations. For a
discussion of these and other factors which may cause actual events or
results to differ from those projected, please refer to the Company's
most recent annual report on Form 10-K and quarterly reports on Form
10-Q, as well as other subsequent filings with the Securities and
Exchange Commission. The Company cautions readers not to place undue
reliance on any forward-looking statements. The Company does not
undertake, and specifically disclaims any obligation, to update or
revise any forward-looking statements to reflect new circumstances or
anticipated or unanticipated events or circumstances.