LAS VEGAS, Dec. 1, 2011 /PRNewswire/ -- Gaming Partners
International Corporation (GPIC: Nasdaq) (the "Company"), a leading
worldwide provider of casino currency and table gaming equipment,
announced today that its Board of Directors unanimously authorized
a program to repurchase shares of the Company's common stock.
The Board approved the repurchase of up to five percent (5%), or
approximately 410,000 shares, of the Company's outstanding common
stock.
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These repurchases will be made from time to time in open market
or in privately negotiated transactions. The timing and
amount of share repurchases will be determined by the Company's
management based on its evaluation of market conditions, the
trading price of the stock, applicable legal requirements, and
other factors, subject to periodic approval of the Board.
This program does not obligate the Company to acquire any
particular amount of common stock or to acquire shares within any
particular timetable and the program may be suspended at any time
at the Company's discretion.
Greg Gronau, President and CEO,
stated that, "At the present time, based upon the combination of
our current market valuation, our cash balances and our ongoing
cash flow generation, we believe that this share repurchase program
is an appropriate use of cash, while also providing us adequate
flexibility for future initiatives."
About Gaming Partners International Corporation
(GPIC)
GPIC manufactures and supplies casino table games and equipment
to licensed casinos worldwide. Under the brand names of
Paulson®, Bud
Jones®, and Bourgogne et Grasset®,
GPIC provides casino currency such as chips, plaques and jetons;
casino tables, furniture and accessories; table layouts; playing
cards; precision dice; roulette wheels; and gaming-related
RFID technology and applications. Headquartered in
Las Vegas, Nevada, GPIC has
additional locations in Beaune, France; San Luis Rio
Colorado, Mexico; Atlantic City,
New Jersey; Gulfport,
Mississippi; and Macau S.A.R., China. For additional
information, please visit www.gpigaming.com.
Safe Harbor Statement
This release contains "forward-looking statements" based on
current expectations involving known and unknown risks and
uncertainties, such as statements relating to anticipated future
sales or the timing thereof; the long-term growth and prospects of
our business or any jurisdiction; the duration or effects of
unfavorable economic conditions which may reduce our product sales;
and the long term potential of the RFID casino currency solutions
market and the ability of GPIC to capitalize on any such growth
opportunities. Actual results or achievements may be materially
different from those expressed or implied. GPIC's plans and
objectives are based on assumptions involving judgments with
respect to future economic, competitive and market conditions, the
timing and its ability to consummate acquisitions, and future
business decisions and other risks and uncertainties identified in
Part I-Item 1A, "Risk Factors" of the Company's Annual Report
on Form 10-K for the period ended December 31, 2010, all
of which are difficult or impossible to predict accurately and many
of which are beyond its control. Therefore, there can be no
assurance that any forward-looking statement will prove to be
accurate.
For more information please contact:
Gerald W. Koslow, Chief Financial
Officer
+1.702.384.2425
jkoslow@gpigaming.com
SOURCE Gaming Partners International Corporation