Acres Gaming Announces Strategic Alliance with IGT, Formation of Proprietary Games Division

PR Newswire | August 9, 1996 | Copyright

Acre's Concept III Technology to be Embedded in IGT Smart System, $5 Million

Equity Investment from IGT for Acres Convertible Preferred Stock

CORVALLIS, Ore., Aug. 9 /PRNewswire/ -- Acres Gaming (Nasdaq: AGAM) today announced that it has signed a letter of intent to implement a strategic alliance with International Game Technology (NYSE: IGT) that includes a $5 million investment from IGT in return for newly issued shares of Acres 3% convertible preferred stock, with a twelve-month option to invest an additional $5 million. The funds are to be used within a new ...

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