LAS VEGAS, Aug. 14, 2014 /PRNewswire/ -- Two of the
world's most innovative gaming service and product suppliers are
joining forces to expand distribution in Macau and North
America, in a three-year agreement between global casino
gaming entertainment leader IGT (NYSE: IGT) and Paradise
Entertainment Limited (SEHK: 1180) subsidiary LT Game. Under the
terms of the agreement, IGT will distribute LT Game's live and
electronic table game systems in the
United States and Canada,
while LT Game will serve as distributor for IGT's slot machines in
Macau.
As IGT and LT Game each seek to expand their global market share
and product portfolio, this partnership provides the unique
opportunity to leverage existing sales, service and compliance
infrastructures to drive revenues from incremental product
segments. The terms of the agreement specify that IGT will
distribute LT Game products on an exclusive basis across
jurisdictions in the U.S. and Canada. IGT is also granted
right of first refusal for distribution of LT Games to Europe, the Caribbean, Mexico, South
America and Central America.
"This alliance is unique to the gaming industry, combining the
storied IGT legacy with the market intuition of LT Game to deliver
a broader and more relevant product portfolio to our collective
customers in North America and
Macau," said Eric Tom, IGT EVP of Global Sales. "We will work
alongside our partner, LT Game, in both markets to ensure that an
exemplary level of customer care is maintained, while we also
continue our direct sales and support for systems products in
Macau."
"The agreement unlocks enormous potential for LT Game in the
international market and marks a significant milestone in our
history. It signals an important cooperation that will generate
synergies for both IGT and LT Game. As a market leader in
Macau, LT Game is well-positioned
to assist IGT in their penetration in the domestic Macau market. Conversely, I believe the
collaboration with IGT will enable LT Game to accelerate its
expansion of global presence and distribution," Jay Chun, Chairman and Managing Director of
Paradise Entertainment Limited commented.
For more information on IGT please visit IGT.com or visit IGT on
Facebook at facebook.com/IGT, or follow us on Twitter,
twitter.com/IGTnews. Join the conversation at #IGTBlue.
IGT Resources:
- Like us on Facebook
- Play DoubleDown Casino Games
- Like DoubleDown Casino on Facebook
- Follow us on Twitter
- View IGT's YouTube Channel
For more information about LT Game, please visit LTGame.com or
www.hk1180.com.
About IGT
International Game Technology (NYSE:
IGT) is a global leader in casino gaming entertainment and
continues to transform the industry by translating casino player
experiences to social, mobile and interactive environments for
regulated markets around the world. IGT's acquisition of DoubleDown
Interactive provides engaging social casino style entertainment to
approximately 6 million players monthly. More information about IGT
is available at IGT.com or connect with IGT
at @IGTNews or facebook.com/IGT. Anyone can play at
the DoubleDown Casino by
visiting http://apps.facebook.com/doubledowncasino or
doubledowncasino.com
About LT Game
A subsidiary of Paradise Entertainment
Limited (SEHK: 1180), LT Game is one of the major gaming and casino
providers in Macau and in the
Asia Pacific region. Some of its
avant-garde gaming products include the Live Multiple Games System
(which has live dealers, supports multiple tables and has a
terminal-based multi-game selection system) and the Paradise
Jackpot System (Baccarat Side-Bet Progressive Jackpot). Both have
been patented in Macau,
USA and PCT (Patent Cooperation
Treaty) countries. LT Game is striving to be at the forefront of
the global gaming industry.
Forward-Looking Statements
This release contains
forward-looking statements relating to expected activities and
results relating to an agreement between IGT and LT Game.
These statements involve a number of risks and uncertainties that
could cause actual results to differ materially from the results
predicted, and reported results should not be considered an
indication of future performance. A list and description of
such risks, uncertainties and other matters can be found in our
annual report and other reports filed with the Securities and
Exchange Commission, including under the captions "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition
and Results of Operations" in our most recent Annual Report on Form
10-K and in our subsequent Quarterly Reports on Form 10-Q and
available on the SEC website at www.sec.gov and on
the investor relations section of our website
at www.IGT.com. All information provided in this release
is as of the date hereof, and IGT does not intend, and undertakes
no duty, to update this information to reflect subsequent events or
circumstances.
Contacts:
Phil
O'Shaughnessy
IGT Public
Relations
1-702-669-2975
Phil.O'Shaughnessy@IGT.com
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SOURCE IGT