VendingData announces organizational restructuring

The reorganization changes include, first, the transferring of all Research & Development efforts to VendingData’s newly created R&D Center located in Zhuhai, China. Two engineers from the US will be transferred to Zhuhai to oversee development and maintain contact with the US regulatory bodies.

The relocation of the engineering division to the Zhuhai office is a strategic step in continuing the forward movement and integration of VendingData’s engineering division in Zhuhai with Elixir Group Limited’s newly established gaming research and development center in Macau, as per the Alliance Agreement completed with Elixir (a wholly owned subsidiary of Melco International Development Limited) on January 18, 2007.

Second, in order to support the anticipated growth of the company’s domestic business from new product line introductions, VendingData will transfer the responsibility for US sales and service to another party that has in place extensive sales and technical service teams throughout the US.

Third, VendingData has relocated its US Corporate offices to 1120 Town Center Drive, Suite 260, Las Vegas, Nevada, 89144.

The fourth and final element of this restructuring is the recently completed sale of intellectual property related to the discontinued SecureDrop product line. The proceeds of the transaction totaled us$ 500,000. This sale is another step of the plan to redeploy VendingData’s resources to new product line introductions as well as capitalize on the opportunities in Macau and other growing markets.

"This organizational realignment allows our company to focus on our core competencies while right-sizing the company, reducing our costs and tightening expenses. We are a highly innovative company with outstanding, R&D, engineering and manufacturing capabilities, and through partnerships an ever expanding global distribution channel. The world gaming markets are accelerating their purchasing of innovative products and technology. It is our mission to deliver leading edge technologies and reliable products at advantageous prices," commented Mark Newburg, CEO of VendingData Corp.