WELLS-GARDNER ANNOUNCES DISTRIBUTION AGREEMENT BETWEEN FUTURELOGIC AND AMERICAN GAMING & ELECTRONICS
Chicago, Illinois, November 12, 2013 ---- Wells-Gardner Electronics Corporation (NYSE MKT: WGA) announced today that its wholly owned subsidiary, American Gaming & Electronics (AG&E) and FutureLogic, Inc, the leading developer of innovative ticket printing and couponing solutions to gaming technology providers and operators around the world, have entered into a Sales Representative and Distribution Agreement through December 31, 2015. AG&E will be the exclusive distributor for FutureLogic gaming printer products in the upper Midwestern states, including Illinois, Indiana, Iowa, Wisconsin, Minnesota and Michigan. AG&E will also be a non-exclusive distributor in 14 states, including California, Nevada and Arizona.
"This distribution agreement with FutureLogic is a very exciting opportunity for AG&E," said Anthony Spier, Chairman and Chief Executive Officer of Wells-Gardner. "FutureLogic is the undisputed leader in the gaming printer business and has been for a very long time. The innovation and quality of their products are a great fit for the catalog of products that AG&E supplies to the gaming industry nationwide. With a large installed base of customers, FutureLogic`s recognition of AG&E as the right partner to represent their market leading products strongly endorses our position as a leading parts provider to the gaming industry. We look forward to a long and mutually beneficial collaboration.
"We are pleased to have AG&E as one of our major distributors," said Nick Micalizzi, FutureLogic`s Vice President Sales and Marketing, North America. "They have an outstanding reputation in the industry in providing superior sales and service support. That was vitally important to us in entering into this agreement. We have a leading position in our industry and we believe that AG&E and Wells-Gardner will help us to not only maintain this position, but to build on it."
Mr. Spier concluded, "The impetus leading to the finalization of this agreement occurred at the recent Global Gaming Expo (G2E). We expect there will be other partnering opportunities that develop from our participation in this year`s show."
About FutureLogic, Inc.
FutureLogic is the leading developer of innovative ticket printing and couponing solutions to gaming technology providers and operators around the world. As the premier supplier of super-robust thermal ticket printers to the global gaming industry, FutureLogic has shipped more than 1.5 million printers for casino gaming, video lottery, AWP, LPM, SWP and kiosk applications worldwide. Headquartered in Glendale, CA and with offices across North and South America, Europe, Asia and Australia, FutureLogic`s sales and engineering teams are ready to provide direct support and local knowledge for manufacturers and operators around the world. For more information or to contact us, please visit futurelogic-inc.com.
About Wells-Gardner
Founded in 1925, Wells-Gardner Electronics Corporation is a distributor and manufacturer of color video monitors and other related distribution products for a variety of markets including, but not limited to, gaming machine manufacturers, casinos, coin-operated video game manufacturers and other display integrators. The Company has the majority of its LCDs manufactured in Mainland China. The Company has an installed base of over 750,000 LCDs. In addition, the Company`s American Gaming & Electronics, Inc. subsidiary ("AGE"), a leading parts distributor to the gaming markets, sells parts and services to over 700 casinos in North America with offices in Las Vegas, Nevada, Hammonton, New Jersey, Miami, Florida and McCook, Illinois. AGE is a distributor of Video Lottery Terminals (VLTs) in Illinois.
Safe Harbor
This press release contains forward-looking statements within the meaning of the federal securities laws. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for such forward-looking statements. The words believe, expect, anticipate, estimate, will, and other similar statements of expectation identify forward-looking statements. Those statements include statements regarding the intent, belief or expectations of the Company and its management. Readers are cautioned that the forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and that actual results could differ materially from those expressed in any forward-looking statement. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, development of competing technologies, availability of adequate credit, interruption or loss of supply from key suppliers, increased competition, the regulatory process and regulatory and legislative changes affecting the gaming industry. Wells-Gardner assumes no obligation to update the information contained in this release to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. For additional investor information, please contact Jim Brace - Wells Gardner at (708) 290-2120 or Joe Diaz of Lytham Partners at (602) 889-9700.
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Source: Wells-Gardner Electronics Corporation via Thomson Reuters ONE
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