Another gaming company goes down the tubes

winbig · #1 03-23-2009, 08:32 PM

This time it's Progressive Gaming, which had patents for casino management systems that connected over 70,000 slot machines across the world.

They only have $263K in assets and owe $5.6M to their creditors, which includes $1M to Hasbro, from a lawsuit that they lost a couple of years ago.. IGT bought most of their assets and plans to merge their operations.

Unfortunately, I think we're only going to see more and more news like this...I don't think the end is in sight, yet.

Full story: http://www.lvrj.com/business/41620927.html

nutforslots · #2 03-24-2009, 02:44 AM

This is a real shame but it is bound to happen. I just hope that things slow down and turn around quickly. I am a slot lover and must have my machines. Bad news seems to abound lately but there is always a rainbow after every storm.

Eyeofngt · #3 03-24-2009, 04:25 AM

So true Nutforslots!! As we see this happen, we seen new ones opening. Thereis always a rainbow at the end of every storm if we look for it. This UIGEA bill, will get thrown out sonnoer or later, and the sooner the better.. After that you will see things start to happen faster than we can keep up with.