JEFFERSON CITY, MO, Sept. 8, 2015 /CNW/ - INNOVA Gaming Group Inc. ("INNOVA", the "Company") (TSX: IGG), today announced that its wholly owned subsidiary, Diamond Game Enterprises ("Diamond Game"), has signed a one-year extension (the "Agreement") to its current pilot agreement with the Missouri Lottery. The Agreement enables Diamond Game to continue installing its LT-3 ticket dispenser ("LT-3") in veterans and fraternal clubs in the state and to begin installing LT-3s in a limited number of "liquor-by-the-drink" ("LBD") locations. Pursuant to the Agreement, dispensers will be installed in 100 new LBD locations. In addition, it is anticipated that dispensers will be installed in new and existing club locations.
"This Agreement builds on the successful LT-3 pilot program we commenced in November 2013 in Missouri," said Richard Weil, Chairman and CEO of INNOVA. "It represents both an extension and an expansion of the current pilot program, which to this point was run exclusively in veterans and fraternal halls. By adding LBD locations, the Missouri Lottery has offered us an opportunity to demonstrate the broad appeal of the LT-3 in non-traditional gaming venues, while bolstering revenues to small businesses, non-profits, and education in the State."
"The pilot program has been a success," added May Scheve Reardon, Executive Director, Missouri Lottery. "We expect that introduction of LT-3s into select LBD locations will build on that success. Lottery players will enjoy a fun, new product, while local businesses will benefit from increased visits by patrons, and the State's education fund will receive much-needed additional revenue."
About INNOVA Gaming Group Inc.
INNOVA develops unique games and products for the global gaming industry, with particular focus on state and provincial lotteries. Through the Company's wholly owned subsidiary, Diamond Game, INNOVA focuses on enhancing the revenues of government-sponsored lotteries and other regulated operators by offering its unique "stay-and-play" products in traditional and non-traditional gaming venues. Its primary product is the LT-3, an instant ticket vending machine that dispenses tickets while simultaneously displaying the results of each ticket on a video monitor in an entertaining fashion. For more information, please visit www.innovagaminggroup.com.
Certain statements included herein, including those that express management's expectations or estimates of our future performance or future events, including with respect to the deployment of Dispensers and the creation of higher sales volumes and ongoing revenue, constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic, regulatory and competitive uncertainties and contingencies that could cause actual results or events to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. The forward-looking statements contained herein reflect INNOVA's current views with respect to future events, and except as required by law, INNOVA does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events, or otherwise.
SOURCE INNOVA Gaming Group
For further information: Jonathan Ross, CFA, LodeRock Advisors, INNOVA Investor Relations, [email protected], Tel: (905) 334-0095