|Alliance Gaming Announces Increase In Earnings Estimate And Provides Update On Wide Area Progressive Games|
|LAS VEGAS, March 6, 2001 - Alliance Gaming Corp. (Nasdaq: ALLY) today announced that it has updated its forecast for the third quarter ending March 31, 2001, and reaffirms the guidance provided for that period. For the fiscal year ending June 30, 2001, the Company is increasing its EPS estimates from $1.75 to $1.80, which in part reflects a significant sale of 651 units from Bally Gaming and Systems to the Mohegan Sun casino in Connecticut, continued improvements at Bally Wulff in Germany and strong third quarter results at the Company's Rainbow Casino. |
The Company also announced that by March 15 it will have installed its first 100 units of its latest wide-area progressive game, Blondie®. Based on the popular comic strip, this high-hit frequency progressive with a $25,000 reset value was first installed in California on Jan. 31 and has met with considerable success. There is currently a backlog of orders for an additional 600 units that will be placed over the next three months.
Upon the successful rollout of these backlog orders, Bally Gaming will have increased its total base of progressive games by more than 70 percent. To date, the Blondie games shipped and the orders received have not resulted in a dilution of the base of Betty Boop™ progressive games. The Betty Boop games in California continue to perform very well, and in fact, earlier this week the instant-pay top award was hit at Fantasy Springs Casino in Indio, the fourth Betty Boop jackpot in the past six weeks.
Finally, the Company announced today that its third wide-area progressive game, Millionaire 7's™, has now been submitted to the gaming regulators in Nevada, Mississippi, New Jersey and GLI and is expected to be introduced during the June quarter. Millionaire 7's will have an initial jackpot of $1 million and will be a complement to the Company's current low- and mid-range progressive game offerings.
Alliance Gaming is a diversified gaming company with headquarters in Las Vegas. The company is engaged in the design, manufacture, distribution and operation of advanced gaming devices and systems worldwide, is the nation's largest gaming machine route operator, and owns and operates two casinos. Additional information about the company can be found on the Alliance Gaming Web site at www.ally.com.
This news release may contain "forward-looking" statements within the meaning of the Securities Act of 1933, as amended, and is subject to the safe harbor created thereby. Such information involves important risks and uncertainties that could significantly affect the results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements. Future operating results may be adversely affected as a result of a number of risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
Betty Boop™ © 2000 King Features Syndicate, Inc / Fleischer Studios, Inc. ™ Hearst Holdings, Inc. / Fleischer Studios, Inc.
Blondie™ © 2000 King Features Syndicate, Inc / Hearst Holdings, Inc.
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Investor and Media Contact: Robert Saxton
Alliance Gaming Corporation