VendingData™ Corp., a Las Vegas-based developer, manufacturer and distributor of innovative products for the gaming industry (including ChipWasherTM and high-frequency RFID Casino Chips) is ready to play down south.
The Mississippi Gaming Commission issued the company a manufacturer’s and distributor’s license to market and distribute in the State of Mississippi (where dockside casino gambling was legalized in 1990).
Stay tuned for more on the cool, new tagged chips once the state rebuilds – Mississippi is rapidly rebuilding its casino industry, following the devastation of all 12 of the floating casinos on the Mississippi Gulf Coast post-Hurricane Katrina in Aug. 2005.
VendingData™ Receives Mississippi Gaming License
LAS VEGAS, Nevada -(PRNewsWire)-June 16, 2006 – VendingData™ Corporation (AMEX: VNX) announced today that the Mississippi Gaming Commission has approved and issued to the company a manufacturer’s and distributor’s license to market and distribute its products in the State of Mississippi.
The Mississippi Legislature legalized dockside casino gambling with the passage of the Mississippi Gaming Control Act in 1990 in a Special Legislative Session. By 1994, the State was generating well over $1 billion in annual casino gross gaming revenues, crossing the $2.5 billion mark in 1999 and holding steady at approximately that level over the past 6 years. Prior to Hurricane Katrina in August 2005, Mississippi was recognized as the nation’s third largest casino market behind Las Vegas and Atlantic City.
Mississippi is rapidly rebuilding its casino industry, following the devastation of all 12 of the floating casinos on the Mississippi Gulf Coast in 2005. Three of the Gulf Coast casinos are now operating and are reporting property gaming revenues double pre-Katrina levels, 7 additional casinos are expected to open by year end and many new casinos are planned. New state legislation was passed in October 2005 legalizing land-based casinos in the state for the first time, permitting casinos within 800 feet of the shoreline, rather than limiting the gaming halls to barges. Among the announced plans for casinos are: Beau Rivage, Boomtown, Hollywood Casino (Bay St. Louis), Grand Casino(Biloxi), Treasure Bay, Silver Slipper, Bali Hai Casino & Resort, Gulfport Oasis Casino, Bacarran Bay Casino, Foxwoods, Hard Rock and many others.
As of April 2006, 20 casinos are operating in the State of Mississippi with approximately 627 gaming tables and 97 poker tables generating year-to-date revenues as of April 30, 2006 of approximately $840 million.
About VendingData™ Corporation
VendingData™ Corporation is a Las Vegas-based developer, manufacturer and distributor of innovative products for the gaming industry. The company’s products include the Deck Checker™, PokerOne™ and RandomPlus Shuffler™ lines, which are installed in various casinos throughout the United States. VendingData™’s newest innovative products include the ChipWasherTM and high-frequency RFID Casino Chips. The company’s customers include mega-gaming corporations such as Caesars Entertainment, MGM Mirage, Station Casinos, and Boyd Gaming as well as major casinos such as The Venetian, Foxwoods Resort Casino and the world’s largest poker room, Commerce Casino. International customers include casinos in Argentina, Columbia, Korea, Macau, Malaysia, Peru, United Kingdom, and Uruguay. Visit the VendingData Web site at http://www.vendingdata.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, the Company’s ability to close the financing agreements with the Bricoleur funds and otherwise obtain capital as and when needed; the success of the transition of the Company’s manufacturing and assembly to China; changes in the level of consumer or commercial acceptance of the Company’s existing products and new products as introduced; competitive advances; acceleration and/or deceleration of various product development and roll out schedules; higher than expected manufacturing, service, selling, administrative, product development and/or roll out costs; current and future litigation; regulatory and jurisdictional issues involving VendingData™ Corporation or its products specifically, and for the gaming industry in general; general and casino industry economic conditions; the financial health of the Company’s casino and distributor customers both nationally and. For a discussion of these and other factors, which may cause actual events or results to differ from those projected, please refer to the Company’s most recent annual report on Form 10-KSB and quarterly reports on Form 10-QSB, as well as other subsequent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur