The acquisition of Oldham-based EndX Group Ltd by Las Vegas-based Progressive Gaming International Corp is expected to be completed during the fourth quarter of 2005 for US$27 million in cash, after approval from the regulatory authorities. The two companies have been in a strategic partnership for over three years, both leading suppliers of integrated casino management systems software. Progressive Gaming claims to have a product in virtually every casino in the world and EndX includes three major UK gaming operators, Grosvenor Casinos, Stanley Casinos and Gala Group, as clients. The partnership has already seen the EndX product incorporated into the management module of Progressive Gaming’s CasinoLink.

Of the signed definitive agreement the Progressive Gaming President and Chief Executive Officer Russ McMeekin said, "We are pleased to welcome our strategic partners at EndX officially into the Progressive Gaming family. Our two organizations have been well connected over the past three years on many fronts and together as one enterprise we expect to maximize the value of their outstanding technology and the world-class team they have assembled. Their strong presence in the expanding markets of the United Kingdom and other territories worldwide are expected to accelerate the growth of our international business."

The addition of EndX and the retirement of high yield debt together with putting legacy business issues behind them should allow Progressive Gaming to concentrate on core strategic growth and deliver to shareholders a 100% increase in bottom line growth in 2006. Estimates for fiscal 2006 revenue are US$100 million to US$110 million. EndX is also predicting accelerated revenue growth by becoming a part of Progressive Gaming.

Nick Boyes-Hunter, co-founder and CEO of EndX, stated, “By becoming a part of Progressive Gaming, we believe we can accelerate our revenue growth through complementary product portfolios and creating synergies that together we expect to take the business to the next level. Our technologies and cultures are very closely aligned which will facilitate a smooth transition, aided by historical success with our partnership. We are pleased that the three primary principals of EndX are expected to have key management roles within Progressive Gaming."

Previously joint marketing and development by EndX and Progressive Gaming have created a TableLink version for the international market. The EndXIntelligence Product Suite, which includes cage and cash management, player marketing, table games accounting and surveillance monitoring, is currently installed in over 20 countries worldwide at more than 175 gaming centres. TableLink and CasinoLink are registered trademarks of Mikohn Gaming, Inc doing business as Progressive Gaming.

Since the 5 December 2004 announcement that Mikohn Gaming Corporation was to focus solely on technology and changed its name to Progressive Gaming International Corporation, after an employee buyout of its interior sign division, the company has acquired Sydney-based PitTrack with a similar product to TableLink. In February 2005 it signed a definitive agreement to acquire VirtGame Corp, a provider of central server-based slot games and centrally managed sports betting. The potential acquisition of the EndX Group would appear to be a logical progression. (E-09.07.05)

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