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Spectre Gaming Signs Exclusive License with Bally for Proprietary Redemption Technology "Agreement Paves Way for Spectre to Enter an Estimated 300,000 Device Marketplace." EL CAJON, Calif., June 2 /PRNewswire-FirstCall/ -- Spectre Gaming, Inc. (OTC:SGMG) (BULLETIN BOARD: SGMG) announced today that it has signed a definitive agreement with Alliance Gaming Corporation (NYSE:AGI), through its Bally Gaming and Systems business unit, to become the exclusive licensee to certain redemption technology that will give Spectre a substantial lead in entering the amusement with prize ("AWP") marketplace. The Company also announced that the Board of Directors of Alliance Gaming Corporation, Bally's parent corporation, has approved the agreement and all other conditions to the effectiveness of the agreement have been met. "This agreement marks a turning point in the life of Spectre Gaming," commented Russell Mix, CEO of Spectre. Mr. Mix continued, "This technology, which has been developed over the past several years, will allow Spectre to enter a marketplace that has an estimated 300,000 devices already in operation. This market continues to grow and is prevalent in states such as Texas that do not allow various other forms of gaming. We believe that operators are looking for several essential components to deploy a complete AWP solution and we believe that this technology will address those needs. In reviewing the technology and the critical intellectual property that surrounds it, we believe Spectre and Bally will be in a strong position to penetrate and defend the AWP market." Bally Gaming and Systems, EVP of Business Development, Paul Lofgren stated "Bally's intellectual property portfolio includes a robust platform for the redemption market. We believe that this platform will allow Spectre to create a full solution for both players and operators, combining the key elements of success: compelling games and reliable systems. It was the next logical step for Bally to license this technology and remain focused on our core casino markets and empower the talented Spectre team to elevate the redemption market with new games and features available through use of these technologies." This news release contains various "Forward-Looking Statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are intended to be covered by the safe harbors created thereby. Statements made in this release which are not historical in nature, including but not limited to statements using the terms "may," "expect to," "believe," "should," "anticipate," and other language using a future aspect, are referred to as forward-looking statements, should be viewed as uncertain and should not be relied upon. Although our management believes that the results reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and our actual future results may be materially different from the expectations expressed in such forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include those set forth in the Company's annual report on Form 10-KSB for the year ended December 31, 2004, and in other filings made, from time to time, by the Company with the Securities and Exchange Commission, including the Company's Registration Statement on Form SB-2, filed on January 19, 2005. The forward-looking statements contained herein speak only as of the date when made and the Company does not undertake to update such statements. DATASOURCE: Spectre Gaming, Inc CONTACT: Russell Mix, CEO of Spectre Gaming, Inc, +1-619-440-6183

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