LOS ANGELES, July 26, 2016 /CNW/ - INNOVA Gaming Group Inc. ("INNOVA" or the "Company") (TSX: IGG), today announced that its wholly owned subsidiary, Diamond Game Enterprises ("Diamond Game"), has signed an agreement (the "Agreement") with Tonk Group ("Tonk") to distribute the LT-3 in New Hampshire (the "State") under a charitable program regulated by the New Hampshire Lottery.
"With this agreement in place, we expect to be in a position to begin deploying LT-3 terminals in the fourth quarter of 2016 into the state of New Hampshire—our sixth North American market in which we will have LT-3s deployed," said Richard Weil, Chairman and CEO of INNOVA. "Tonk will seek to secure suitable veteran, fraternal or charitable locations to place terminals as authorized by the New Hampshire laws and regulations. We are looking forward to working with Tonk and the New Hampshire Lottery to assist charities and social programs in the state that benefit from gaming activities."
The Agreement designates Tonk as Diamond Game's distributor in New Hampshire for a period of two years from July 26, 2016. Tonk will also provide support and maintenance services. The agreement is subject to customary regulatory requirements and restrictions.
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, including, without limitation, our ability with Tonk Group to place LT-3 terminals in New Hampshire, 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, contingencies and risks that could cause actual results or events to differ materially from those expressed or implied in such statements. Applicable risks and uncertainties include those identified under the heading "Risk Factors" in INNOVA's annual management's discussion and analysis dated March 15, 2016 and in other filings that INNOVA has made and may make with applicable securities authorities in the future, including, as applicable, under the heading "Risk Factors" in INNOVA's latest annual information form, all of which are or will be available on SEDAR at www.sedar.com. 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: please contact: Jonathan Ross, CFA, LodeRock Advisors, INNOVA Investor Relations, [email protected], Tel: (905) 334-0095