Date: Fri, 21 Nov 1997 04:14:17 GMT Server: NCSA/1.5 Content-type: text/html Last-modified: Thu, 23 Oct 1997 17:00:49 GMT Content-length: 4969 Acres Gaming Report to Shareholders

Acres Gaming Logo Report to Shareholders


Your Guide to Acres Gaming

The Power of Bonusing™ is what distinguishes Acres Gaming as an industry leader. The core philosophy behind our bonusing systems and other key products is that, "success trickles up." By starting every development effort with keen insight into why people gamble, we’re able to design cost-effective systems that enhance casinos’ competitiveness and profitability in ways that are attractive, entertaining and fun for players.

1997 proved that success doesn’t just trickle, it floods. It was a rewarding year for our shareholders, our customers and for players at casinos from coast to coast and around the globe.

Net revenue increased almost 200 percent in 1997, from just under $7 million last year to more than $20 million. Profitability leapt from the loss column, with net income rising to $1.8 million from a net loss of $1.6 million in 1996. The Company is positioned with the necessary resources for ongoing research and development to sustain the company’s growth and success. The year ends with a strong balance sheet that shows substantial working capital and no long-term debt.

Final delivery and installation of an Acres Bonusing System™ ("ABS") customized for the Crown Casino in Melbourne, Australia, was the capstone of our efforts in 1997. In addition to generating considerable revenue, the Crown installation enhanced our reputation and further confirms the effectiveness of The Power of Bonusing.

The future looks even better. Negotiation of our strategic alliance with International Game Technology ("IGT") – the world’s largest slot machine manufacturer – was completed in January, 1997. This alliance allows the Company to focus resources on further development of our bonusing technology – our greatest potential for increasing revenue.

We appreciate your support, and remain dedicated to putting the Power of Bonusing to work for shareholders and casinos, by continuing to develop products that attract, entertain and retain players.

 

John F. Acres
Chairman and Chief
Executive Officer

Joseph A. Huseonica
President and Chief
Operating Officer


Copyright © 1997 Acres Gaming, Inc. All Rights Reserved.

 

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