GameTech Announces $5.0 Million Share Repurchase Program
September 04 2007 - 8:30AM
PR Newswire (US)
RENO, Nev., Sept. 4 /PRNewswire-FirstCall/ -- GameTech
International, Inc., (NASDAQ:GMTC), a leading designer, developer
and marketer of computerized bingo and gaming equipment, systems,
and services, today announced that its board of directors has
authorized a $5.0 million share repurchase program. The shares from
the new $5.0 million authorization are expected to be acquired
through open market transactions over a period of up to the next 12
months. The actual number and timing of share repurchases will be
subject to market conditions and applicable SEC rules. About
GameTech International, Inc. GameTech International, Inc.
("Company" or "GameTech") is in the business of designing,
manufacturing, and marketing computerized bingo and gaming
equipment, systems, and services. Under the GameTech(R) brand the
company provides electronic bingo systems and equipment, and is an
innovator in advanced wireless gaming applications and devices.
Under the Summit Gaming (TM) brand the company provides video
lottery terminal devices and related software and content. GameTech
International, Inc. serves customers in 43 U.S. States, Canada,
Japan, Mexico, Norway, Philippines, and the United Kingdom. The
company was incorporated in 1994 and is headquartered in Reno,
Nevada. Statements contained in this press release that are not
historical facts are intended to be forward-looking statements
subject to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements
include the final amount that is expended on share repurchases, the
actual number of shares of common stock repurchased, changes in the
market price of the Company's common shares of stock. GameTech
cautions that these statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those reflected by the forward-looking statements contained
herein. Such factors include change in cash availability to the
Company, our dependence on the bingo and video lottery terminal
businesses, risks associated with rapid technological change, our
ability to retain customers and secure new customers, and other
factors disclosed in documents filed by the Company with the
Securities and Exchange Commission, including the Company's most
recently filed Annual Report on Form 10-K and Quarterly Reports on
Form 10-Q. Forward-looking statements speak only as of the date of
this release, and we undertake no obligation to update such
statements. DATASOURCE: GameTech International, Inc. CONTACT:
Donald Tateishi, CFO of GameTech International, Inc.,
+1-775-850-6110 Web site: http://www.gametech-inc.com/
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