Gaming Industry Finance Executive Brings Valuable International Experience to WMS
Gaming Inc. (NYSE:WMS) announced today that effective
immediately Scott D. Schweinfurth, 46, has been named Executive Vice
President-Chief Financial Officer and Treasurer, replacing Jeffrey M.
Schroeder, who served as Vice President-Finance, Chief Financial
Officer and Treasurer since 1999 and who is leaving to pursue other
business interests. WMS also announced that Robert R. Rogowski, who
presently serves as Vice President of Finance for the Company's WMS
Gaming Inc. subsidiary has been promoted to also serve as Vice
President of Finance and controller of WMS Industries.
Mr. Schweinfurth brings to WMS extensive gaming industry
experience as well as relevant experience in international gaming
markets. In his new capacity, Mr. Schweinfurth, a Certified Public
Accountant, will be responsible for managing all financial and
treasury functions, bank and financial community relationships and
conducting internal and industry analysis to support the Company's
goals for growth and profitability.
Prior to joining WMS, Mr. Schweinfurth served as Senior Vice
President, Chief Financial Officer and Treasurer of Las Vegas-based
Alliance Gaming Corporation (NASDAQ:ALLY), a $500 million diversified
gaming company. At Alliance, Mr. Schweinfurth also recently served as
Managing Director of the Company's Berlin, Germany-based Bally Wulff
subsidiary. Prior to joining Alliance, Mr. Schweinfurth served as
Senior Vice President, Chief Financial Officer and Treasurer of Bally
Gaming International, which was acquired by Alliance in 1996. Mr.
Schweinfurth began his career in 1976 as a staff accountant at Ernst &
Young in Chicago and was a Partner when he left in 1994. He is a 1976
graduate of Miami University - Oxford, Ohio.
Robert Rogowski, a Certified Public Accountant, joined WMS in
1992, and was named Vice President of Finance of WMS Gaming Inc. in
1996. Prior to joining WMS, Mr. Rogowski served for nine years in the
finance department at Sara Lee. He received an M.B.A. in 1991 from the
University of Chicago.
Commenting on the appointment, Brian R. Gamache, President and
Chief Operating Officer of WMS, stated, "With these management changes
we are adding Scott's valuable gaming industry and international
experience while recognizing the important contributions that Bob has
made to WMS' current strong financial structure which includes a solid
balance sheet with over $47 million in cash and a book value of
($5.88) per share.
"Scott's international experience both at Alliance and at Ernst &
Young and his gaming industry knowledge and relationships, are
valuable attributes that will enable him to quickly add value to WMS'
senior management team. We expect him to play a key role in our future
growth and success."
Scott D. Schweinfurth added, "As a long-time follower and
competitor of WMS, I was attracted to the Company for many reasons,
including its innovative product offerings and its potential to
continue building its market share as one of the leading suppliers to
the gaming industry. I look forward to joining Brian and Bob, as well
as the rest of the WMS team."
This press release contains certain forward
concerning future business conditions and the outlook for the Company
based on currently available information that involve risks and
uncertainties. The Company's actual results could differ materially
from those anticipated in the forward looking statements as a result
of certain risks and uncertainties, including, without limitation, the
financial strength of the gaming industry, the expansion of legalized
gaming into new markets and legislative and regulatory changes in
existing gaming markets, the development, introduction and success of
new games and new technologies and the ability to maintain the
scheduling of such introductions, the ability of the Company to
qualify for and maintain gaming licenses and approvals, the outcome of
certain legal proceedings to which the Company is a party and other
risks more fully described under "--Factors Affecting Future
Performance" in the Company's Annual Report on Form 10-K.
WMS Industries Inc. is engaged in the design,
sale of gaming devices and video lottery terminals and contract
CONTACT: WMS Gaming Inc., Chicago
Molly D. Sandberg
Manager, Media Relations
Joseph N. Jaffoni
Jaffoni & Collins Incorporated