VANCOUVER, July 13, 2017 /CNW/ - POYDRAS GAMING FINANCE CORP. (TSX-V: PYD) (OTCQX: PYDGF) ("Poydras" or the "Company") today announced that Integrity Gaming Inc., a wholly-owned subsidiary, has successfully deployed its first Gamblit Gaming machines at the Downstream Casino Resort in Quapaw, Oklahoma. Gamblit Gaming, LLC ("Gamblit") is the leading technology provider in the emerging interactive entertainment meets gambling space, enabling a wide range of video game genres to accommodate wagering experiences. Integrity has an exclusive agreement with Gamblit to distribute its products in Tribal jurisdictions in Oklahoma and Texas.
The recently installed Gamblit Model G™ interactive game tables are the first multiplayer skill games in the state, currently on the floor at Downstream Casino Resort, a state of the art casino with over 2,000 gaming machines. The Model G™ consoles feature multiple games including Gamblit Poker™, a poker-based game where the players get to pick their own cards by touching a "Grab Card" button on the interactive touch screen, and Cannonbeard's Treasure™, a fast-paced skill game similar to Blackjack that features pirate ships firing upon one another as players race to achieve the target number. Requiring both skill and dexterity, these games add an interactive, party-like atmosphere to familiar game types, bringing the fun of competitive video games in a format that is attractive for both new and experienced players.
"These consoles going live mark an important milestone in our development and position us as the leading provider of next generation gaming devices in Oklahoma and Texas," said Peter Macy, CEO of Poydras Gaming. "Gamblit's games have been designed to appeal to a wide demographic, retain existing users, attract new players, increase game play and ultimately, increase cash flow for our customers. We have multiple contracts in place to install Gamblit consoles and expect the success of this first installation will attract even more interest."
"We are very pleased to be working with Integrity as we launch in Oklahoma, which as the third largest gaming market in the United States presents a particularly attractive opportunity for Gamblit Gaming's lineup of interactive gaming devices," said Eric Meyerhofer, CEO of Gamblit Gaming. "Integrity is a leading player and a trusted partner in Oklahoma, and its strong and enduring relationships make them the ideal partner as we deploy additional gaming machines in the region."
New Machine Placement Agreement
Today Poydras also announced that Integrity has entered an agreement with the Choctaw Nation of Oklahoma ("Choctaw Nation") to place gaming consoles at their Choctaw Casinos & Resorts. Headquartered in Durant, Oklahoma, Choctaw Casinos & Resorts feature a variety of gaming, hotel and resort properties throughout southeastern Oklahoma. The placed machines will be comprised of games from Gamblit as well as Grand Vision Gaming, a manufacturer of Class III gaming machines. Poydras has an exclusive distribution agreement with Grand Vision Gaming and this will be the first installation in Oklahoma. Initial placement will be at Choctaw Casino & Resorts' flagship property in Durant, a AAA Four Diamond resort and entertainment destination.
"This agreement demonstrates the attractiveness of our line of exclusive machines in the gaming community, allowing us to expand and diversify our customer base," added Mr. Macy. "We are pleased to make this initial placement with a leading operator like the Choctaw Nation and look forward to increasing our relationship with them as these consoles demonstrate value."
The consoles are expected to be in place and generate revenue in Q3 2017.
About Gamblit Gaming:
Gamblit Gaming is the leading publisher of real money and skill gaming in video games, enabling a wide range of game genres to accommodate gambling experiences at land based casinos worldwide. Gamblit's platform provides all essential regulated technology, customer operations, and licenses, freeing up game developers, publishers, and casino operators to focus on making the best possible game experience for their players. Founded with the goal of bridging the gap between video games and casinos, Gamblit's executive team has deep roots in both industries.
About Poydras Gaming Finance Corp.:
Poydras Gaming is a regional slot route operator with approximately 2,600 gaming machines in operation across over 25 casinos in Oklahoma and Texas. The Company primarily derives its revenue from short- and long-term revenue share contracts with Native American casinos. It provides gaming equipment such as slot machines and electronic table games, and project financing to owners, operators, and managers of casinos and other regulated gaming venues. The company works with casinos, new casino developments, and gaming machine suppliers. In addition, it distributes casino and bingo equipment, and offers direct and online sales of gaming supplies for poker and bingo. Additional information about the Company can be found on the Company's website at www.poydrasgaming.com and on the SEDAR website at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward‐Looking Statements
Certain information in this news release is considered forward‐looking within the meaning of certain securities laws and is subject to important risks, uncertainties and assumptions. This forward‐looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward‐looking information. The forward‐looking information in this news release, including those statements relating to expected EBITDA impact, and the closing of the transaction, describes the Company's expectations as of the date of this news release.
The results or events anticipated or predicted in such forward‐looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward‐ looking information include, among others, risks arising from general economic conditions and adverse industry events.
The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward‐looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward‐looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD‐LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD‐LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
SOURCE Poydras Gaming Finance Corp.
For further information: Craig MacPhail, Investor Relations | NATIONAL Equicom, T: 416.586.1938, E: [email protected]; James Kim, VP of Corporate Development, Poydras Gaming Finance Corp., T: 604.683.8393, E: [email protected]; For Gamblit Gaming, please contact: Karina St. Jean / Amy Pandya, Rogers & Cowan for Gamblit Gaming, 310.854.8112 / 310.854.8262, [email protected], [email protected]owan.com