LAS VEGAS, Nev., June 9, 2000 (PRIMEZONE) -- Mikohn Gaming Corp. (Nasdaq:MIKN) today announced that its MONOPOLY(r) Poker Edition(tm) game has received regulatory approval in Nevada, and marketing of this new offering, the first table game ever developed under a major consumer brand name, will begin immediately to Nevada casinos.
Developed under exclusive license from Hasbro, Inc. (NYSE:HAS), the MONOPOLY(r) Poker Edition(tm) game is based on Hasbro's MONOPOLY(r) game, the world's most popular board game. A panel of industry experts has already recognized the new offering as one of the "Twenty Most Innovative Gaming Products" of the year. The Nevada state gaming approval of MONOPOLY(r) Poker Edition(tm) followed a successful 90-day field trial at Circus Circus on the Las Vegas Strip. The MONOPOLY(r) Poker Edition(tm) game previously was approved in Mississippi and initial table placements at four casinos are showing very good results.
The company also announced that its new Progressive Jackpot Pai Gow Poker(tm) game has gained regulatory approval in Mississippi. The recently introduced game was one of Mikohn's featured products at the recent Southern Gaming Summit trade show in that state.
"Mikohn is implementing the largest roll-out of proprietary progressive table games in industry history," commented David J. Thompson, the company's chairman and chief executive officer, "and these two games are an important part of that effort. We now have a complete portfolio of table games, giving us the ability to offer the right product to meet a casino operator's specific needs.
"Building on the strength of our industry leading Caribbean Stud(r) poker game, we are focused on the long-term growth of our table game route via our new progressive games and 'Electronic Pit' concept. Our objectives are to enhance the profitability of our casino customers while building our own recurring revenues."
Greg Colella, Mikohn's product manager of table games, added that the MONOPOLY(r) Poker Edition(tm) game "reinterprets the world renowned classic board game, using its imagery and graphic elements to create an entertaining, easy-to-learn poker game with the added appeal of a progressive jackpot. Progressive Jackpot Pai Gow Poker(tm) is Mikohn's newest progressive table game. It targets an attractive specialty niche market. The development team has created a great package with the dynamic new theming, felt and electronics."
According to Thompson, Mikohn's "Electronic Pit" brings a new level of excitement to table games with new games, brand name appeal, exciting displays and linked progressives, which build larger jackpots. The first such installation at Grand Casino Biloxi includes two MONOPOLY(r) Poker Edition(tm) game tables and eight Progressive Blackjack(tm) tables which joined the four existing Caribbean Stud(r) tables at the property. All are linked by game type to create larger progressive jackpots and a Grand Casino Biloxi player recently won the first-ever MONOPOLY(r) Poker Edition(tm) game progressive jackpot game for more than $80,000.
More recently, Mikohn has installed a mini "Electronic Pit" in Trump's Casino in Gary, Indiana. Six tables of Mikohn games (Caribbean Stud(r), Caribbean Draw(r) and Wild Aruba Stud(r)) are all linked to a common progressive jackpot.
"We believe our table game initiative represents the wave of the future in the casino pit," Thompson concluded.
Mikohn is a diversified supplier to the casino gaming industry worldwide, specializing in the development of innovative products with recurring revenue potential. The company develops, manufactures and markets an expanding array of slot games, table games and advanced player tracking and accounting systems for slot machines and table games. Mikohn is also a leader in exciting visual displays and progressive jackpot technology for casinos worldwide. There is a Mikohn product in virtually every casino in the world. For further information, visit the company's website: www.mikohn.com.
MONOPOLY (r) & (c) 2000 Hasbro, Inc. All Rights Reserved.
Safe Harbor Statements under The Private Securities Litigation Reform Act of 1995: Except for historical information, statements in this release regarding the business outlook for Mikohn Gaming Corporation (the Company) are forward looking and are subject to certain risks and uncertainties including the overall industry environment, customer acceptance of the Company's new products, delay in the introduction of new products, the further approvals of regulatory authorities, adverse court rulings, production and/or quality control problems, the denial, suspension or revocation of privileged operating licenses by governmental authorities, competitive pressures and general economic conditions as well as the Company's, debt service obligations and other factors indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.