— Continues to expand footprint with addition of 100 machines —
VANCOUVER, Aug. 14, 2017 /CNW/ - POYDRAS GAMING FINANCE CORP. (TSX-V: PYD) (OTCQX: PYDGF) ("Poydras" or the "Company") today announced that it has signed a new agreement with a new customer for the addition of 100 machines. The Company will begin placing the machines towards the end of August with a target completion of September 2017.
"We are very pleased to work with this new customer as we continue to execute on our plan to expand our presence in our core markets," said Peter Macy, CEO of Poydras Gaming. "We also look forward to working with them as they grow their casino into an attractive gaming destination. Our strategy remains to focus on building a strong pipeline for growth through the addition of new customers, organic growth with our existing customers, and by making accretive acquisitions. In terms of new customers, we have already placed or will place by the end of the third quarter, games with four new facilities, bringing the number of total casinos we operate in to over 30."
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]