CARLSBAD, Calif., Aug. 14, 2019 /PRNewswire/ -- NTN Buzztime,
Inc. (NYSE American: NTN), signed a follow-on contract for over
$3 million with one of the nation's
leading providers of technology, automation, and communications for
correctional facilities to deliver a customized end-to-end hardware
and software solution.
"This $3 million deal is a strong
vote of confidence by our repeat customer, and proof that
Buzztime's hardware and software solutions deliver tremendous value
– enabling companies to focus on their core business. We're
leveraging our manufacturing capacity and form factor flexibility
to penetrate additional vertical markets and uncover new
revenue-generating opportunities," said Ram Krishnan, Buzztime
CEO
In 2018, the correctional facilities provider placed its initial
order for over $1 million of Buzztime
tablets to test their performance in the prison environment.
Buzztime designed a hardware and entertainment solution that
empowered our partner's software to provide inmates access to
email, pay-to-play arcade games, and video visitation when using
Buzztime's highly secure, durable tablets. The system delivered
reliable, ongoing performance – withstanding constant use by
inmates – resulting in the customer more than doubling the quantity
of its first order in this latest $3
million contract.
"Buzztime is unique in the marketplace in that we fully control
the form factor of our tablets and charging systems. This empowers
us to custom-engineer hardware and software solutions that overcome
challenges presented by any vertical market. Our proven track
record combined with a robust manufacturing and support
infrastructure enable us to deliver these solutions at scale – and
at a competitively priced rate," concluded Krishnan.
Buzztime manufactures durable customer-facing tablets and
technology systems for a wide range of vertical markets: from
restaurants to senior living communities to point-of-sale. This
recent partnership within the corrections and rehabilitation
facilities industry underscores the growing demand for custom-built
hardware and software solutions – which is a key revenue
opportunity for Buzztime. In addition, the company is also
licensing Buzztime games which can be played on the tablets,
highlighting an additional revenue stream.
Forward-looking Statements
This release
contains forward-looking statements that reflect management's
current views of future events and operations, including statements
regarding the value of our product to our customer, new vertical
markets, new revenue opportunities, our position in the marketplace
and customer demand for our product. These risks and uncertainties
include the risks of unsuccessful execution or launch of products,
platforms or brands, risks associated with customer retention and
growth plans, the impact of alternative technologies and
competitive products, brands, technologies and pricing, adverse
economic conditions, the regulatory environment and changes in the
law, failure of customer acceptance or demand for new or existing
products, lower market acceptance or appeal of both existing and
new products and services by particular demographic groups or
audiences as a whole, termination of partnership and contractual
relationships and technical problems or outages. Please see NTN
Buzztime, Inc.'s recent filings with the Securities and Exchange
Commission for information about these and other risks that may
affect the Company. All forward-looking statements included in this
release are based on information available to us on the date
hereof. These statements speak only as of the date hereof and NTN
Buzztime, Inc. does not undertake to publicly update or revise any
of its forward-looking statements, even if experience or future
changes show that the indicated results or events will not be
realized.
About Buzztime:
Buzztime (NYSE American: NTN) delivers interactive entertainment
and innovative technology that helps its customers acquire, engage
and retain its patrons. Most frequently used in bars and
restaurants in North America, the
Buzztime tablets, mobile app and technology offer engaging
solutions to establishments that have guests who experience dwell
time, such as casinos, senior living, and more. Casual dining
venues license Buzztime's customizable solution to differentiate
themselves via competitive fun by offering guests trivia, card,
sports and arcade games. Buzztime's platform creates connections
among the players and venues and amplifies guests' positive
experiences. Buzztime's in-venue TV network creates one of the
largest digital out of home ad audiences in the US and Canada. Buzztime Hardware Solutions leverages
the company's experience manufacturing customized open source
Android solutions with a proprietary remote management platform to
maintain a large fleet of durable tablets and charging
systems. Our competitively priced approach and solutions
enable successful product implementation for a diverse group of
industries including corrections, point-of-sale and
loyalty. Buzztime games have also been recently licensed by
other businesses serving other markets. For more information,
please visit http://www.buzztime.com or follow us
on Facebook or Twitter@buzztime.
IR AGENCY CONTACT:
Kirsten
Chapman, LHA Investor Relations,
buzztime@lhai.com 415-433-3777
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SOURCE NTN Buzztime, Inc.