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Change of Plans for American Wagering4 September 1998
LAS VEGAS -- American Wagering, Inc. (Nasdaq: BETM) has terminated its planned purchase of Imagineering Systems, a keno systems provider located in Reno, Nevada, and has announced plans to develop a progressive Keno system in-house.
"Our decision to terminate the purchase of Imagineering Systems was not an easy one to make," said American Wagering CEO Vic Salerno. "After our Board of Directors reviewed the acquisition in view of the business plan of the company, they felt it would be more consistent with our strategic plan to develop the system in-house. We plan to continue with the direction we have taken towards adding a Keno system to our library of products and are currently waiting for Nevada 5regulatory approval to begin the roll out of this product."
The company owns and operates Leroy's Horse and Sports Place, the licensed bookmaker with the largest number of sports book locations in the state of Nevada, and CBS, a supplier of sports and race book equipment and software in Nevada. It also owns and operates a 150 room hotel/casino complex in Las Vegas.