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Geller Rudman Announces Class Action Lawsuit Against Alliance Gaming Corp. on Behalf of Investors NEW YORK, June 18 /PRNewswire/ -- The Law Firm of Geller Rudman, PLLC announced today that a class action lawsuit has been filed in the United States District Court for the District of Nevada on behalf of purchasers of Alliance Gaming Corp. (NYSE:AGI) ("Alliance Gaming" or the "Company") publicly traded securities during the period between January 15, 2004 and June 7, 2004, inclusive (the "Class Period"). A copy of the complaint filed in this action is available from the Court, or can be viewed on the firm's website at http://www.geller-rudman.com/case_signup_sec.asp?cID=307 . The complaint charges Alliance Gaming and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Alliance Gaming is a diversified, worldwide gaming company that designs, manufactures and distributes gaming machines and computerized monitoring systems for gaming machines. The complaint alleges that during the Class Period, defendants caused Alliance Gaming's shares to trade at artificially inflated levels through the issuance of false and misleading statements regarding the Company's business prospects, which allowed the Company to consummate stock-for-stock acquisitions with inflated stock valued at $16 million; allowed certain defendants to sell $3.6 million worth of their own shares at artificially inflated prices; and permitted Alliance Gaming to grow and benefit economically from the wrongful course of conduct. As a result, the Company's shares traded at inflated prices, topping $34 during the Class Period. On June 8, 2004, the Company issued a press release updating the Company's guidance for fiscal year 2004 to "the range of $0.96 to $1.00 per share, compared to the prior guidance of $1.04," and for fiscal year 2005 to "a range of $1.20 to $1.30" compared to prior guidance of $1.40. On this news, the Company's shares plunged $5.24 to close at $16.15 per share. According to the complaint, the defendants actively concealed from the public that: (i) the Company was experiencing massive problems/delays associated with the Company's Wide Area Progressive games in Nevada due to regulatory hold-ups; (ii) the Company was experiencing massive delays in its approval and deployment of New York VLT game revisions; (iii) the Company's margins were being slashed by increased costs associated with the Company's central and traditional determination products; (iv) the Company's acquisition of Sierra Design Group was suffering from massive integrative problems; (v) the Company was losing its competitive position and experiencing problems in its game unit (video product); and (vi) as a result of the above, defendants' forecasts for fiscal year 2004 of $1.04 and fiscal year 2005 of $1.40 per share, were grossly inflated. If you bought Alliance Gaming publicly traded securities between January 15, 2004 and June 7, 2004, inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than August 16, 2004. If you are a member of this class, you can join this class action online at http://www.geller-rudman.com/ . Any member of the purported class may move the Court to serve as lead plaintiff through Geller Rudman or other counsel of their choice, or may choose to do nothing and remain an absent class member. Geller Rudman, PLLC is a national law firm that represents investors and consumers in class action and corporate governance litigation. It is one of the country's premier firms in the area of securities fraud, with in-house finance and forensic accounting specialists and extensive trial experience. Since its founding, Geller Rudman, PLLC has grown to become one of the most respected and successful firms representing investors and consumers in class action litigation. The firm came of age under the client focused realities of the Private Securities Litigation Reform Act of 1995, which provided new opportunities for institutional investors to assume leadership in combating securities fraud. The firm's lawyers have achieved substantial recoveries for aggrieved investors and consumers in class action lawsuits prosecuted in state and federal courts throughout the nation. Geller Rudman, PLLC maintains a widely recognized reputation for excellence, as courts have repeatedly appointed the firm to major positions in intricate multi-district or consolidated litigations. In this regard, Geller Rudman, PLLC has successfully pursued hundreds of class action lawsuits, has taken a lead role in numerous complex litigations on behalf of defrauded investors and consumers and has been responsible for billions in recoveries as well as landmark corporate governance changes. The firm maintains offices in Boca Raton and New York. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call or e-mail the Firm or visit the Firm's website at http://www.geller-rudman.com/ . Contact: GELLER RUDMAN, PLLC Samuel H. Rudman, Esq. or David A. Rosenfeld, Esq. Client Relations Department: 200 Broadhollow, Suite 406 Melville, NY 11747 631-367-7100 Toll Free: 1-877-992-2555 Fax: 1-631-367-1173 E-mail: DATASOURCE: Geller Rudman, PLLC CONTACT: Samuel H. Rudman, Esq. or David A. Rosenfeld, Esq., both of Geller Rudman, PLLC, +1-631-367-7100, or +1-877-992-2555, or fax, +1-631-367-1173, or Web site: http://www.geller-rudman.com/ http://www.geller-rudman.com/case_signup_sec.asp?cID=307

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