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GTECH and NTN Terminate Letter of Intent7 August 1997WEST GREENWICH, R.I. -- GTECH and NTN Communications announced that they have mutually agreed to terminate their previously announced letter of intent for GTECH's subsidiary, Gamescape, Inc., to acquire NTN. The parties were unable to conclude a definitive agreement and determined to pursue their business separately. GTECH Corporation is the world's leading supplier of computerized on-line lottery products and services. Currently, GTECH has contracts to supply and/or operate lottery systems for 29 U.S. customers and 49 customers outside of the United States. NTN Communications, Inc. is a leading producer and programmer of two-way (interactive) television, on-line and Internet entertainment. Based in Carlsbad, California, the company broadcasts to a variety of delivery platforms 24 hours a day, providing multi-player sports and trivia games that are among the most popular destinations on computer on-line and interactive cable services. NTN also distributes its unique programming to more than 15 million participants per month at restaurants, taverns, hotel lounges, military bases and other hospitality sites throughout North America. In addition, NTN has developed LearnStar, an innovative teaching resource used nationwide in hundreds of schools, and IWN, a technological leader in the gaming and wagering industry. |