2013-02-28 14:32:27 -
Chicago, Illinois, February 28, 2013 --- Wells-Gardner Electronics Corporation
(NYSE MKT: WGA) announced that its wholly owned subsidiary American Gaming &
Electronics (AG&E) has received total signed purchase orders for VGT units to be
installed in Illinois valued at over $30 million.
"We are pleased to report that as of today we have received purchase orders
valued at $30 million." said Anthony Spier, Wells-Gardner's Chairman and Chief
Executive Officer. "Our backlog is now over $20 million as we have shipped
approximately 10 million of VGTs as of yesterday. We are expecting this backlog
to be converted to shipped orders by the end of 2013, depending on the speed
of
jurisdictional approvals of bars and other liquor establishments in the state."
Founded in 1925, Wells-Gardner Electronics Corporation is a distributor and
manufacturer of color video monitors and other related distribution products for
a variety of markets including, but not limited to, gaming machine
manufacturers, casinos, coin-operated video game manufacturers and other display
integrators. The Company has most of its LCDs manufactured in Mainland China.
In addition, the Company's American Gaming & Electronics, Inc. subsidiary
("AGE"), a leading parts distributor to the gaming markets, sells parts and
services to over 700 casinos in North America with offices in Nevada, New
Jersey, Florida and Illinois. AGE is also a licensed distributor of video gaming
terminals in Illinois.
This press release contains forward-looking statements within the meaning of the
federal securities laws. Those statements include statements regarding the
intent, belief or expectations of the Company and its management. Readers are
cautioned that the forward-looking statements are not guarantees of future
performance and involve a number of risks and uncertainties, and that actual
results could differ materially from those expressed in any forward-looking
statement. Important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements include, but
are not limited to, development of competing technologies, availability of
adequate credit, interruption or loss of supply from key suppliers, increased
competition, the regulatory process and regulatory and legislative changes
affecting the gaming industry. Wells-Gardner assumes no obligation to update
the information contained in this release to reflect events or circumstances
after the date of this release or to reflect the occurrence of unanticipated
events. For additional investor information, please contact Jim Brace - Wells
Gardner at (708) 290-2120 or Alan Woinski - Gaming USA Corporation at (201)
599-8484.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Wells-Gardner Electronics Corporation via Thomson Reuters ONE
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