Gaming Strategy
Featured Stories
Legal News Financial News Casino Opening and Remodeling News Gaming Industry Executives Search News Subscribe
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Search Our Archive of Gaming Articles 

Alliance Gaming Announces Agreement for Cashless Technology Patents

26 April 2001

LAS VEGAS, Nevada –(Press Release) -- April 26, 2001 --Alliance Gaming Corp. (Nasdaq: ALLY) announced today that its Bally Gaming and Systems subsidiary has entered into an agreement with Anchor Gaming whereby Bally Gaming authorized Anchor to offer to the gaming industry two of its United States patents together with several other patents related to cashless gaming.

The agreement allows Bally Gaming and Systems to utilize all the patented cashless technology offered by Anchor for no additional consideration. Bally Gaming will receive a portion of the royalties collected by Anchor for the patented cashless technology used by the gaming industry.

``We certainly feel that the industry is migrating to cashless gaming technology, and we believe this latest agreement places Bally Gaming in a position to capitalize on this market going forward,'' stated Robert Miodunski, President and Chief Executive Officer of Alliance Gaming Corporation.

``We believe that this agreement not only will result in modest royalty revenues, but more importantly will expand the use of the collective patents to advance the cashless technology throughout the industry thereby creating future opportunities.''

Alliance Gaming is a diversified gaming company with headquarters in Las Vegas. The company is engaged in the design, manufacture, distribution and operation of advanced gaming devices and systems worldwide, is the nation's largest gaming machine route operator, and owns and operates two casinos. Additional information about the company can be found on the Alliance Gaming Web site.

< Gaming News