IGT Enters Into Exclusive Agreement With Caribbean CAGE LLC to Supply Video Lottery Terminals in Licensed Bancas in the Dominican Republic
PR Newswire
LAS VEGAS, April 27, 2011
LAS VEGAS, April 27, 2011 /PRNewswire/ — International Game Technology (NYSE: IGT) announced today it has entered
into an exclusive agreement with Caribbean CAGE LLC (CAGE), a video lottery
terminal (VLT) and gaming terminal operator in Latin America and the
Caribbean, to supply several thousand video lottery terminals in licensed
bancas (Bancas de Apuestas Depotivas) in the Dominican Republic and to
connect those gaming terminals to the IGT Casinolink(R) gaming management
solution system.
"This agreement with Caribbean CAGE highlights IGT's expertise in the
global VLT market and in gaming management solutions," said Patti Hart, IGT
President and CEO. "Partnering with this industry-leading gaming company in
the Caribbean and Latin America has given IGT an opportunity to launch our
successful VLT products in the Dominican Republic. CAGE is well known in the
industry for delivering great gaming experiences to its players, which makes
this partnership with IGT a perfect fit."
"This strategic agreement with IGT is a dynamic and exciting business
opportunity for us to expand our reach across the Caribbean and Latin
America," said Robert L. Johnson, chairman of The RLJ Companies and majority
owner of CAGE. "IGT's track record of delivering world-class
technology-including terminals, games and systems-will help CAGE empower
small businesses to generate sustainable cash flow in these challenging
economic times."
"We at CAGE could not be more excited about our newly formed relationship
with IGT and its commitment to deliver unique gaming solutions to our
markets," said Bob Washington, chairman and CEO of CAGE. "The opportunity to
partner with IGT in the Dominican Republic will provide us with the tools and
the systems to monitor and ensure compliance with existing laws relating to
video lottery terminals in licensed bancas in the Dominican Republic."
"IGT's technology will expand our capability by offering enjoyable games
for consumers and players, as well as additional sustainable annual revenues
for specific needs of many of the countries in Latin America and the
Caribbean, such as health care, education and sports," Washington concluded.
IGT will begin by delivering several hundred VLTs in the spring of 2011,
and will continue shipping additional units to the Dominican Republic on a
monthly basis. A large percentage of the games IGT will supply to CAGE will
be part of the Game King(R) 6.0 Multi-Game suite, featuring the industry's
top blackjack, poker and video slot themes. This multi-game suite offers 46
poker selections, 13 video slot titles, 9 keno games and blackjack.
Additional games being provided to the Dominican Republic include player
favorites such as Coyote Moon(R), Cats, Kitty Glitter(R), Da Vinci
Diamonds(R) and Pharaoh's Gold(R).
In addition to the VLTs, IGT Casinolink(R) will be used by CAGE to
centrally monitor the bancas operations. IGT Casinolink(R) has the capability
to connect the management of video lottery terminals, slot machines, table
games, account-based wagering, marketing and casino cashier services into one
comprehensive system. The system's extensive reporting capabilities allow for
better planning and operational decisions in addition to increased control,
accountability and monitoring of casino cashier operations. This scalable
solution can be used in single and multi-site casino properties. IGT
Casinolink(R) meets Gaming Standards Association (GSA) compliance protocols,
which gives operators the ability to respond to ever-changing business and
market needs.
About Caribbean CAGE LLC
Caribbean CAGE LLC (An RLJ Companies Majority-Owned Company) is a U.S.
Virgin Islands-based company that manages, develops, operates and distributes
video lottery terminals in a number of countries and territories throughout
the Caribbean and Latin America. CAGE is owned by RLJ Gaming LLC, RBW Gaming
LLC and Cage HR LLC (Hard Rock). The Company was founded by Robert L. Johnson
and Robert B. Washington, and is majority-owned by Johnson, who is the
founder and chairman of The RLJ Companies and Black Entertainment Television
(BET). Within The RLJ Companies portfolio, Johnson owns or holds interests in
businesses operating in hotel real estate investment, private equity,
consumer financial services, asset management, insurance services, automobile
dealerships, sports and entertainment, and video lottery terminal (VLT)
gaming.
As a local-focused gaming business, CAGE installs and maintains VLTs at
gaming sites such as restaurants, bars, lounges, liquor stores, convenience
stores and other venues. More information about CAGE is available at
http://www.caribbeancage.com.
About IGT
International Game Technology (NYSE: IGT) is a global leader in the
design, development and manufacture of gaming machines and systems products,
as well as online and mobile gaming solutions for regulated markets. More
information about IGT is available at http://www.IGT.com, or follow IGT on
Twitter at @IGTNews (http://www.twitter.com/igtnews) or on Facebook at
http://www.facebook.com/IGT.