HAMMONTON, NJ — (Marketwired) — 08/22/17 — American Gaming & Electronics, Inc. (OTCQB: AGNU) is pleased to announce that, in conjunction with its joint venture partner Image Power, it has signed a daily operations contract with Ocean Downs Casino, Berlin, Maryland, which is a partnership between Churchill Downs Inc. and the Saratoga Casino.
The agreement is for AG&E and Image Power to supply slot technicians to maintain all technical operations on the casino floor. This is the second agreement of its type that AG&E and Image Power has in place. The first was with Hollywood Perryville Casino (Penn National Gaming–s REIT) in Perryville Maryland.
Anthony Tomasello, CEO and President of American Gaming and Electronics, said, “In our opinion this is a step towards the future that allows the operator to control staffing levels and still have a qualified work force for both regular and high volume periods. The economic savings is considerable for the operator and includes other beneficial services such as inventory control, preventative maintenance and a large back up staff for projects. This also provides a strong revenue increase for the Company and its investors.”
AG&E, Inc. has also signed a distribution and service agreement with GameCo., Inc., Las Vegas, a leading manufacturer of Skill Based casino machines geared to the millennial player.
AG&E is presently in negotiations with several equipment manufactures and expects those distribution agreements to be in place soon. Image Power is an approved MBE vendor in the state of Maryland.
AG&E Holdings Inc. is one of the largest suppliers of gaming parts, electronic components and technical labor, both domestically and internationally. AG&E is strategically located in Las Vegas, New Jersey, Florida and Illinois and its distribution chain reaches the Caribbean and Puerto Rico, Canada, and Eastern and Western Europe. AG&E also serves as the national warranty center for a major supplier of bill acceptors in the industry. It provides repair service for all types of monitors and bill validators and sells a wide array of products detailed on its web site .
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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. AG&E 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.
Contact:
Paul Knopick
E & E Communications
940.262.3584
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