LAS VEGAS, Nov. 3, 2011 (GLOBE NEWSWIRE) -- Galaxy Gaming, Inc. (OTCBB:GLXZ), announced today that it has completed its purchase of the table game assets of Lakes Entertainment, Inc. (Nasdaq:LACO). Eight casino table game patents, two registered and several other trademarks, four casino table games and an assignment of the casino table game route previously owned by Lakes were included in the purchase. Terms of the transaction were not disclosed.
The four table games acquired are Bonus Craps, Bonus Roulette, Rainbow Poker and Four the Money. The electronic and internet gaming rights are included with the exception of the electronic version of Four the Money, which is licensed to Digi-Deal Corporation of Spokane, Washington. Bonus Craps was prominently displayed by Galaxy Gaming in their booth at the Global Gaming Expo (G2E), held last month in Las Vegas. Commenting on the response from G2E, Ron Marks, Galaxy's Vice President of Sales said, "The response at the G2E show and subsequently from our clients to Bonus Craps has been amazing. They love that Galaxy now has something for their dice tables. We are thrilled the acquisition is complete and we will now begin the process of filling orders. We are extremely enthusiastic about our future in regards to this acquisition of Bonus Craps and all of the outstanding Lakes Entertainment games."
Robert Saucier, Galaxy Gaming's CEO commented, "As significant as the acquisition of these table games and their associated intellectual property is, I am equally delighted with the addition of a dozen or more new clients which we now welcome to the Galaxy family. In particular, we have prominently added to our Las Vegas Strip presence with the addition of Bellagio, Wynn, Encore, Treasure Island, New York, New York and Aria as Galaxy Gaming clients. I want to personally thank and recognize Lyle Berman, Chairman and CEO of Lakes Entertainment and his team, who were great to engage with on this transaction. I hope we will have another opportunity to further our business relationship."
About Galaxy Gaming
Headquartered in Las Vegas, Galaxy Gaming (www.galaxygaming.com) is the world's second largest developer, manufacturer and distributor of over 60 casino table games including Lucky Ladies, 21+3, Three Card Poker(UK), Texas Shootout, Emperor's Challenge, Deuces Wild and Bonus Craps. In addition, it develops innovative and enhanced electronic wagering platforms and systems such as its Bonus Jackpot System, its Inter-Casino Jackpot System, its MEGA-Share system and the TableMAX e-Table Gaming System. Galaxy Gaming distributes its products to casinos worldwide.
The Galaxy Gaming, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6569
About Lakes Entertainment
Lakes Entertainment, Inc. (Nasdaq:LACO) currently has development and management or financing agreements with two separate Tribes for casino operations in California, for a total of two separate casino sites. Lakes is currently managing the Red Hawk Casino for the Shingle Springs Band of Miwok Indians. Lakes has an investment in Rock Ohio Ventures, LLC for their planned casino developments in Cincinnati and Cleveland, Ohio. Lakes is also involved in other business activities.
Safe Harbor
This release may contain certain "forward-looking statements" relating to the Company's business which may be subject to various factors that may cause actual results to be materially different from those described herein as anticipated, estimated, or expected. The Company disclaims any obligation to update or alter its forward-looking statements.