Diamond Game has deployed 60 modified LT-3 break open ticket dispensers in Clovis bingo hall
LOS ANGELES, June 26, 2017 /CNW/ - INNOVA Gaming Group Inc. ("INNOVA" or the "Company") (TSX: IGG), today announced that its wholly owned subsidiary, Diamond Game Enterprises ("Diamond Game"), has deployed 60 modified LT-3 break open ticket dispensers ("LT-3") under an Agreement (the "Agreement") with the Red Arrow Bingo Hall in Clovis, New Mexico.
"This is a significant opportunity for Diamond Game to demonstrate the benefit of its LT-3 for the charities in operation at Red Arrow Bingo," said Richard Weil, Chairman and CEO of INNOVA. "While the sales cycle can take time, we are beginning to see indications that both existing and new jurisdictions are ready to begin adding LT-3s. This announcement is one of several considerable growth opportunities that the Company has available to it. In the coming years, we expect to drive strong deployment growth with existing and new customers and to continue to generate solid financial performance through the addition of value-added content and features to existing units in the field."
The Agreement demonstrates Diamond Game's ability to modify LT-3s for a given jurisdiction's needs, in this case to provide the player with the same engaging experience, without a cash-out voucher or accumulated credits. The Agreement is dated June 15, 2017 and will extend for three years. Diamond Game is a licensed Bingo Manufacturer by the New Mexico Gaming Control Board in New Mexico.
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 "extended 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, 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, LodeRock Advisors, INNOVA Investor Relations, email@example.com, Tel: (416) 283-0178