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Acres Gaming Announces Agreement with IGT for MGM Mirage Properties27 December 2000LAS VEGAS, Nevada -- (Press Release) -- Dec. 27, 2000 -- Acres Gaming Inc. (Nasdaq:AGAM) today announced that it has agreed to sell Acres Advantage hardware and license software to International Game Technology (NYSE:IGT) in connection with IGT's contract with MGM MIRAGE to install a combined IGT and Acres slot accounting, player tracking and bonusing system in up to 11 MGM MIRAGE properties. Acres has received deposits of $3.7 million against projected revenues of $7.8 million for four installations. The first hardware and application software installation is scheduled to begin at The Mirage in January 2001. The other three hardware and application software installations are scheduled to follow at a rate of approximately one casino per month. Bonusing software products, representing $1.1 million of the projected revenues, are expected to be installed at a later date. If the complete system is installed at all 11 MGM MIRAGE casinos, Acres anticipates that its revenues will total approximately $20.1 million over the next twelve to 18 months. ``We are very pleased to be working with IGT to provide our products to MGM MIRAGE, a premier provider of casino entertainment on the Las Vegas Strip and other gaming venues around the country,'' stated Bud Glisson, Acres chairman and CEO. Acres Gaming provides products and services to casinos worldwide, using its proprietary Acres Bonusing Technology to increase player enjoyment and casino efficiency and profitability. |