GameTech shows strong year to date

Other highlights in the financial report included a revenue increase for the third quarter to us$ 16.6 million, from us$ 12.4 million in 2006 and an increase of us$ 4.8 million for the first nine months to us$ 42.1 million.

Jay Meilstrup, GameTech’s President and CEO stated, "The third quarter saw continued revenue growth in some of the larger domestic bingo markets, as well as in the United Kingdom.”

"Helping to offset erosion in some of the more mature domestic bingo markets will be continued expansion into new domestic and international markets, such as the recently announced contract with Mecca Bingo in the United Kingdom which represented the single largest contract in GameTech’s history. Our Summit division’s results for the quarter were impacted by delays in the Louisiana market that did not allow the opportunity to realize the full potential of the market in the third quarter.

He added: "For the balance of the fiscal year and into 2008, we anticipate developing new business from the introduction of new products in both the bingo and video lottery terminal markets as well as pursuing strategic opportunities as they arise."