SEARCH NEWS:

 

IGT and TransAct Expand Relationship

WALLINGFORD, Connecticut – (PRESS RELEASE) -- TransAct Technologies Incorporated (Nasdaq: TACT) and IGT, a subsidiary of International Game Technology (NYSE: IGT), today announced that they have signed an agreement for the integration of TransAct's Epic 950(TM) printer to become a standard option on all IGT slot machine platforms. IGT is a world leader in the design, development and manufacture of microprocessor-based gaming and video lottery products and software systems. TransAct Technologies is a leading producer of transaction-based printers for customers worldwide.

The companies expect availability of IGT's slot machines with TransAct's integrated printer to commence in the second quarter of 2005. As part of the agreement, TransAct expects to incur approximately $500,000 in costs mostly in the fourth quarter 2004 and the rest in the first quarter 2005. These costs are associated with the integration of TransAct's printer into all IGT platforms and slot machine models and for TransAct's assistance in achieving regulatory approval in all jurisdictions where IGT does business.

Jon D. Berkley, Senior Vice President of Global Gaming and Lottery for TransAct, said, "The agreement to supply IGT with our Epic 950(TM) will enable TransAct to offer IGT's customer base an unsurpassed solution. We greatly appreciate the opportunity to grow our relationship with our friends at IGT and look forward to a long and mutually beneficial relationship."

Bart C. Shuldman, Chairman, President and Chief Executive Officer of TransAct Technologies, commented, "This is a significant advancement for TransAct and we are extremely pleased and honored to be expanding our relationship with industry leader IGT. We feel very positive about being able to announce such a major deal after launching our new Epic 950(TM) thermal ticket printer in October and feel that it has the potential to significantly impact our business."

< Gaming News