- New Offerings Highlight Multimedia Games’ Progress in Serving New Class III Gaming Markets -
- Featured Products Address Growing Slot Floor Segments Including New Community Game, Next Generation Slot Tournament System, New Five-Reel Mechanical Reel Games and Advanced Sound System for Multimedia Games’ Popular Cabinet Series -
AUSTIN, Texas — (BUSINESS WIRE) — November 11, 2009 — Multimedia Games, Inc. (Nasdaq: MGAM) (“Multimedia Games” or the “Company”) will debut an expanded product lineup for Class III gaming markets at the ninth annual Global Gaming Expo (G2E®) from November 17-19 in Las Vegas, Nevada (Las Vegas Convention Center, Booth 1610). Multimedia Games’ portfolio of Class III offerings on display at G2E reflects the Company’s focus on developing new games and products that benefit customers and address growing areas of the slot floor. They also reflect the continued success Multimedia Games is achieving in its new product development plan that was implemented late in calendar 2008. In addition to the new Class III products debuting at G2E 2009, Multimedia Games will showcase new games that further the Company’s support of Class II and other electronic bingo gaming markets.
Anthony Sanfilippo, President and Chief Executive Officer of Multimedia Games, commented, “Our commitment to product excellence and customer support and satisfaction will be fully evident at G2E. Over the past year we have made significant progress in advancing our Class III portfolio by developing unique products with intuitive play features that offer high levels of entertainment and excitement. Our expanded Class III portfolio addresses important, growing areas of the slot floor and offers operators high appeal, differentiated games that generate strong coin in. We expect these new products will build on the success we have achieved to date in our efforts to expand into new markets as we execute on a strategy to leverage and accelerate the Company’s core product development resources.”
2009 G2E Product Offerings
Multimedia Games will debut an advanced version of its slot tournament system, its newest community game, a new line of 5-reel mechanical reel games and a new 3-reel mechanical reel multi-tier progressive game, as well as new audio capabilities for its popular Player Series™ gaming cabinets. The Company will also demonstrate two Apps for the iTunes® App Store at G2E that leverage popular Multimedia Games gaming brands, intellectual property and content in an exciting new medium. The new products on display at G2E include:
Meltdown Core Reaction App: A 5-reel, 30-line video game that features the signature Meltdown® re-spin in which certain wins spin up to 5 times, paying winning combinations – including multiple jackpots. Game play highlights include the Toxic Barrel Bonus game where players get to pick 3 out of 9 barrels in the radioactive dump for big bonus prizes. Best of all, if the original triggering spin included more than 3 Toxic Barrel symbols, the entire bonus prize gets nuked, for a total award of up to 5,500x the credit wagered.
Safari Sunrise App: A 5-reel, 30-line game featuring a free spin bonus that players won’t be able to stop playing. The level of player interaction when determining the number of spins, the extra Wild symbol, and the multiplier for the free spin bonus truly make Safari Sunrise a unique game.
Mr. Sanfilippo commented, “Our new approach to product development is resulting in solutions that provide immediate benefits for casino operators as reflected in the advanced capabilities of our TournEvent slot management system. Slot tournaments are an important component of a casino’s marketing and promotion efforts and we believe TournEvent sets the industry standard for functionality and player appeal. In addition, with our existing market-proven Class III video slot titles, the debut of Slot Car Speedway, our newest offering for the community gaming segment, our first ever 5-reel mechanical reel games and a new audio system which enhances our popular Player Series cabinets, we will demonstrate at G2E a broad range of exciting products for current and prospective new customers. Finally, with the introduction of our Meltdown Core Reaction and Safari Sunrise Apps, we will extend the availability of two of our most enduring brands as well as introduce these exciting entertainment experiences in a new medium.”
Benefiting from New Processes and Procedures for Entering New Markets
Mr. Sanfilippo added, “Late last year, we began implementing an entirely new player-focused approach to our game development efforts including establishing dedicated Class III game development studios, enhancing our pre-development testing of new game concepts and utilizing player and industry feedback, all of which is providing inputs for generating the exciting new range of Multimedia Games’ products on display at G2E this year.”
In addition to the new game development process, Multimedia Games has instituted changes to the organization that the Company believes will continue to benefit its expansion into new Class III markets. These changes include a build out of the Company’s sales staff that is now led by accomplished executives with Class III gaming experience and the centralization of all new licensing efforts under the office of the Company’s General Counsel. Further, the Company recently added two new positions to further support its Class III expansion:
Mr. Sanfilippo concluded, “At the same time we are advancing our product development efforts, we continue to evolve our marketing tools, sales force and infrastructure to support our efforts to move into Class III markets. The additions of Brad and JP to our organization reflect our commitment to approach new market opportunities with appropriate resources and expertise. We are pleased to welcome these accomplished executives to Multimedia Games and look forward to benefiting from their expertise as we expand our business.”
About Multimedia Games
Gaming technology developer and distributor, Multimedia Games, is a creator and supplier of comprehensive systems, content and electronic gaming units for Class III and Class II Native American gaming markets, as well as for commercial casinos and charity and international bingo markets. Multimedia Games has approximately 17,000 gaming units in operation domestically and internationally installed on revenue-sharing arrangements. The Company also supplies the central determinant system for approximately 13,000 video lottery terminals (“VLTs”) installed at racetracks in the State of New York. Multimedia Games is focused on the further development of new gaming systems and products for the markets it currently serves as well as for new domestic and international market opportunities. Additional information may be found at www.multimediagames.com.
This press release contains forward-looking statements based on Multimedia Games' current expectations and projections of future events and facts and circumstances present as of the date of this press release. All forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. The words “will,” “plan,” “anticipate,” “forward,” “begin,” “strategy,” “launch,” “implement,” “commit,” “progress,” “advance,” “grow,” “build,” “execute,” “debut,” “approach,” “result,” “solutions,” “enhance,” “institute,” “support,” “continue to,” “evolve,” “expand,” “initiative,” “focus,” “intend,” “pursue,” "believe" or the negative or other variations thereof or comparable terminology as they relate to Multimedia Games and its products and markets are intended to identify such forward-looking statements. These forward-looking statements include, among other things, references to future actions, new projects, strategies, future performance, outcomes of contingencies and future financial results of either Multimedia Games or its customers.
These forward-looking statements reflect the current views and assumptions of Multimedia Games, and are subject to various risks and uncertainties that cannot be predicted or qualified and could cause actual results in Multimedia Games’ performance and / or the outcome of its initiatives to differ materially from those expressed or implied by such forward looking statements. These risks and uncertainties include, but are not limited to, the risk inherent to implementing new strategies, products, and / or initiatives, including but not limited to, player preferences and reactions, casino employment of the games, location of the games on the casino floor, and the risk of equipment malfunction; the possible negative effects of local and national economic conditions on both commercial and tribal gaming markets; unfavorable changes in laws, regulatory requirements or unanticipated enforcement action against us, our games or customers, and/or adverse decisions by courts, regulators and/or governmental bodies; delay or prevention of our entry into new markets due to the inability of Multimedia Games or its key employees to secure or maintain required licenses or approvals, or other issues; unfavorable changes in the preferences of our customers or their end users resulting in the removal of our games; software or hardware malfunction or fraudulent manipulation thereof; inability to successfully introduce new and existing games and/or systems into new and existing markets; failure to attract and/or retain key employees; failure to expand our installed base in certain markets or the failure to achieve improved performance of our games or systems; management may not be able to effectively implement new operations, finance, sales, products, and marketing initiatives and/or the outcomes of these initiatives may differ materially from their stated objectives; and the Company’s ability to comply with restrictions contained in its credit facility. Other important risks and uncertainties that may affect the Company's business are detailed from time to time in the "Certain Risks" and "Risk Factors" sections and elsewhere in Multimedia Games' filings with the Securities and Exchange Commission. Multimedia Games disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Multimedia Games, Inc.
Chief Marketing Officer
Jaffoni & Collins Incorporated
Joseph N. Jaffoni
212-835-8500 or Email Contact