Progressive Gaming Completes $31 Million Strategic Financing

Progressive Gaming International Corporation, announced recently that it has closed the previously announced strategic investment in the Company. Transaction proceeds of approximately $31 million were generated from a private placement of approximately 6.9 million shares of common stock. The investment was led by a large prominent mutual fund. No warrants were issued in connection with the financing.

The Company expects to use proceeds from this financing, as well proceeds from the anticipated sale of its Table Games Division, to repay debt and for working capital purposes.

The shares of common stock sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (“SEC”) or an applicable exemption from the registration requirements. The shares were offered and sold only to a limited number of accredited investors. The Company has agreed to file a registration statement with the SEC covering the resale of the common stock issued in the private placement.

Progressive Gaming International is a leading supplier of integrated casino and jackpot management solutions for the gaming industry worldwide. This technology is widely used to enhance casino operations and drive greater revenues. Progressive Gaming is unique in the industry in offering casino management and progressive systems in a modular yet integrated solution. Products include multiple forms of regulated wagering solutions in wired, wireless and mobile formats. There are Progressive Gaming products in over 1,000 casinos throughout the world.

For more information, please visit www.progressivegaming.net