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Source: International
Game Technology
International Game Technology and Anchor Gaming announce
results of Shareholder meetings
Reno & Las Vegas
December 18th, 2001
International Game Technology (NYSE: IGT) and
Anchor Gaming (Nasdaq: SLOT) announced that their stockholders approved
the proposed IGT acquisition of Anchor at stockholders meetings held by
each company today.
"We are pleased that IGT and Anchor Gaming stockholders
overwhelmingly approved the proposed transaction," said G. Thomas Baker,
President and Chief Executive Officer of IGT. More than 98% of the IGT
stockholders voting approved the issuance of shares to Anchor Gaming stockholders
transaction and more than 98% of the Anchor Gaming stockholders voting
approved the transaction.
The companies received notice last week that the
Federal Trade Commission had terminated the pre-clearance waiting period
under the Hart-Scott-Rodino Act applicable to the proposed acquisition
of Anchor Gaming by International Game Technology.
International Game Technology and Anchor Gaming are working to complete
the merger by the end of January 2002 or earlier subject to obtaining all
required regulatory approvals and satisfaction of other customary closing
conditions.
Statements in this release regarding IGT, which are
not historical facts, are ``forward-looking'' statements under the
Private Securities Litigation Reform Act of 1995. These matters involve
risks and uncertainties, including changes in demand for
the companies products because of a reduction in the growth of markets
or changes in the popularity of its products, a decrease in the popularity
of its wide area progressive systems, the risks of conducting international
operations, the adoption of new unfavorable gaming laws or laws applicable
to gaming machine manufacturers, uncertainties generally associated with
the development and manufacturing of gaming machines and systems
the risk that the proposed merger with Anchor Gaming may not occur.
Historical results achieved are not necessarily indicative of future
prospects of IGT. More information on factors that could affect IGT's
business and its financial results are included in its Annual Report on
Form 10-K and other public filings made with the Securities and Exchange
Commission. For more information on International Game Technology,
visit the IGT company web site at http://www.igt.com.
This press release contains certain forward-looking
statements regarding Anchor Gaming within the meaning of section
21e of the Securities Exchange Act of 1934, as amended and other
applicable securities laws. All statements other than statements
of historical fact are ``forward-looking statements'' for purposes
of these provisions. Included in these provisions are any projections
or estimates of earnings, revenues, or other financial items; any
statements of plans, strategies, and objectives of management for
future operation; any statements concerning proposed new products,
services, or developments; any statements regarding future economic
conditions or performance; statements of belief; and any statement
of assumptions underlying any of the foregoing. Such forward-looking statements
are subject to inherent risks and uncertainties, and actual results
could differ materially from those anticipated by the forward-looking
statements. Although Anchor Gaming believes that the expectations reflected
in any of its forward-looking statements will prove to be correct,
actual results could differ materially from those projected or assumed
in Anchor Gaming's forward-looking statements. These risks and uncertainties
include, but are not limited to: the risk that we may not meet our projected
financial results; risks of proprietary games such as pressures from
competitors, changes in economic conditions, obsolescence, declining popularity
of existing games, failure of new game ideas or concepts to become popular,
duplication by third parties and changes in interest rates as they relate
to the wide area progressive machine operations within our joint venture
with IGT; general changes in economic conditions; our ability to improve
results of operations in our gaming systems segment; reduced lottery sales
in lottery jurisdictions where AWI has lottery contracts; our ability to
keep or renew existing lottery contracts; competition in Colorado that
could adversely affect our Colorado casinos; our ability to generate sales
of new video lottery central control systems and video lottery terminals;
we are subject to adverse determination in pending litigation with Acres
Gaming relative to our proprietary games' intellectual property and in
pending litigation between Gtech Holdings and the Florida Lottery relative
to our Florida Lottery contract; we have obligations under agreements with
the Pala Band of Mission Indians that subject us to joint venture risk,
construction risk and sovereign immunity risk; risk that initial results
from the Pala Casino cannot be sustained over the long-term; the risk that
the merger with International Game Technology may not occur and other factors
described from time to time in Anchor Gaming's reports filed with the Securities
and Exchange Commission, including Anchor's Form 10-K for the year ended
June 30, 2001, Form 10-Q for the quarter ended September 30, 2001 and the
merger joint proxy statement/prospectus dated November 13, 2001. These
reports and proxy statement may be obtained free of charge at the website
of the Securities and Exchange Commission at http://www.sec.gov.
CONTACT:
Media, Ed Rogich, 702-896-8690,
or Investors, Bob McIver, 775-448-0110, both of IGT; or Media, Howard Stutz,
or Investors, Geoff A. Sage, both of Anchor Gaming, 702-896-7568.
For more information
on International Game Technology, visit the company web site at www.igt.com
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