Sunday, June 26, 2005

Legg Mason comments on IGT partnership (Intelligent Table System)

Under the terms of the agreement, SHFL will provide its automatic card shufflers, intelligent card reading shoes plus chip sorters and verifiers. Progressive Gaming will contribute its RFID technology in bet recognition, gaming tracking and payoff recognition and IGT will provide the back-end table management system consisting of player tracking, loyalty and rewards.

IGT will acquire 50% of SHFL RFID patents for $10.5 million now and $4.9 million more in 2007. IGT considering investment into Progressive.

Legg Mason mentions that the co's think this ITS will rival ticket-in-ticket-out technology in terms of its impact on the casino floor.

LM also feels Progressive might be an IGT target down the road.


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