LAS VEGAS, April 4 /PRNewswire-FirstCall/ -- American Wagering, Inc.
(OTC Bulletin Board: BETM) (the "Company") today announced that Computerized
Bookmaking Systems, Inc. ("CBS"), a wholly owned subsidiary of the Company,
successfully completed the first installation of the CBS race/sports software
using the Hewlett-Packard AlphaServer(TM) computer hardware platform. This
teaming of the CBS software with the AlphaServer(TM) hardware was accomplished
at the Aladdin Hotel & Casino in Las Vegas, Nevada.
Karl Johnson, CBS' Director of Research and Development, said, "The
implementation of the AlphaServer(TM) system is a real breakthrough. CBS is
the only company to offer a 64-bit processor to the Nevada sports industry;
the sheer speed of this processor will dramatically increase throughput and
reduce the amount of time required to perform administrative functions such as
game analysis and report generation. The efficiency generated by
AlphaServer(TM) simply cannot be matched by the PC-based systems of our
competitors."
Victor Salerno, the Company's CEO and President, said, "With the mergers
and consolidations we've seen of late, the race and sports book industry
required a bigger, better and faster system that could efficiently process
wagers from numerous casino properties concurrently. CBS recognized this need
and produced a scalable product that is not only able to meet the current
requirement, but a product that is able to grow with the industry."
ABOUT COMPUTERIZED BOOKMAKING SYSTEMS, INC.:
CBS is a technology-driven company that designs, sells, installs and
maintains specialized software, hardware and computer systems for the race and
sports betting industry. CBS is the leading race and sports systems supplier
in the state of Nevada and provides systems and services to the majority of
race and sports book in Nevada; at the present time, wagers placed through a
CBS system account for approximately 90% of all sporting event wagers placed
in the state of Nevada (based on total amount wagered). CBS' customers
include, but are not limited to, the following: Boyd Group, Caesars
Entertainment, Coast Casinos, Harrah's, Leroy's, Mandalay Resort Group,
MGM/Mirage Group, Stations Casinos, etc. At the present time, CBS has
standing orders to install the AlphaServer(TM)-based system at the Riverside
Hotel and Casino (Laughlin), the Peppermill Hotel and Casino (Reno) and the
Rainbow Hotel and Casino (Wendover); these installations are expected to be
completed prior to the start of the professional football season.
ABOUT AMERICAN WAGERING, INC.:
American Wagering, Inc. is a publicly traded holding company that
primarily operates through various wholly owned subsidiaries including, but
not limited to, Leroy's Horse & Sports Place, Inc. ("Leroy's"), Computerized
Bookmaking Systems, Inc. ("CBS"), and AWI Manufacturing, Inc. ("AWIM").
Leroy's owns and operates over 60 race/sports book outlets in the state of
Nevada, CBS is the dominant supplier of sports wagering hardware/software to
the Nevada gaming industry, and AWIM is a Nevada Gaming Commission licensed
manufacturer/distributor and supplier of race/sports self-service wagering
kiosks.
WHERE THE READER CAN FIND MORE INFORMATION:
The Company is subject to the informational requirements of the Exchange
Act and, accordingly, files its annual reports on Form 10-KSB, quarterly
reports on Form 10-QSB, current reports on Form 8-K, proxy statements, and
other information with the SEC. Materials filed with the SEC may be read and
copied at the SEC's Public Reference Room at 450 Fifth Street, NW, Washington,
D.C., 20549; please call the SEC at (800) SEC-0330 for further information on
the Public Reference Room. In addition, as an electronic filer, the Company's
public filings are maintained on the SEC's Internet site that contains
reports, proxy and information statements, and other information; the address
of that website is http://www.sec.gov.
FORWARD-LOOKING STATEMENTS:
This news release contains "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Action of 1995 and other
applicable securities laws that reflect the Company's current views with
respect to certain current/future events and financial performance. The
Company believes its forward-looking statements are reasonable; however, undue
reliance should not be placed on such statements, which are based on current
expectations. Such forward-looking statements are and will be, as the case
may be, subject to risks, uncertainties and factors relating to the operations
and business environments of the Company and its subsidiaries that may cause
the actual results to differ materially from these forward-looking statements.
The Company and its subsidiaries face risks related to their operations that
include, but are not limited to, the following: the ability of the Company to
obtain trade credit, shipments and terms with vendors and service providers;
the Company's ability to maintain contracts and licenses that are critical to
its operations; potential adverse developments with respect to the Company's
liquidity or results of operations; the ability of the Company to attract and
retain customers; the ability of the Company to attract, retain and compensate
key executives; demand in the markets in which the Company operates; economic
conditions; the effects of any hostilities or act of war or terrorist attack;
labor costs; financing costs; the costs and availability of insurance, bonds
and sureties; security-related costs; competitive pressures on pricing;
weather conditions; government legislation and regulation; consumer
perceptions of the Companies' products; etc. Additional risks associated with
the Company's business are detailed in its reports filed with the SEC on Form
10-KSB, Form 10-QSB, and Forms 8-K.
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SOURCE American Wagering, Inc.
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CONTACT:
Tim Lockinger, CFO, American Wagering, Inc.,
+1-702-735-0101, ext. 412
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