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AUSTIN, Texas -- Multimedia Games, Inc. (Nasdaq: MGAM) announced today that it has been selected by Apuestas Internacionales S.A. de C.V. ("Apuestas"), a subsidiary of Grupo Televisa, S.A. (NYSE: TV), to provide traditional and electronic bingo gaming, technical assistance, and related services for Apuestas' locations in Mexico. Apuestas was granted a permit by the Ministry of the Interior of Mexico to open 65 facilities throughout Mexico to operate bingo and sports books.
Pursuant to the agreement, Multimedia Games ("Multimedia") will initially train Apuestas personnel in traditional bingo games, and provide all of the electronic bingo units for the first facility, which is expected to open during the second quarter of 2006. After the initial six months, Multimedia will provide 70% of the units in the establishments opened by Apuestas. During calendar 2006, approximately 10 facilities are
expected to come online. Multimedia will place its electronic bingo units in consideration for a percentage of each unit's net win.
In addition to providing electronic bingo units and related services, Multimedia will install its MGAMe(R) System, including full-featured player tracking software, in each of Apuestas' facilities.
Clifton E. Lind, Multimedia's President and Chief Executive Officer, commented, "We are honored to enter into this relationship with Grupo Televisa. We look forward to working closely with Apuestas' staff to assist with the development of their traditional bingo games and to meet their electronic bingo requirements. This exciting new market opportunity in Mexico extends our track record in deploying our technology base to further diversify our revenue sources."
About Multimedia Games
Multimedia Games is a leading developer and supplier of comprehensive systems, content, electronic games and player terminals for the Native American gaming market, as well as the racino, charity bingo, video lottery, and sweepstakes and amusement with prize markets. The Company's ongoing development and marketing efforts focus on Class II and Class III gaming systems and products for use by Native American tribes throughout the United States, video lottery systems and other ...
Source: HighBeam Research, Multimedia Games Awarded Contract to Supply Electronic Bingo Units...