Global Payment Technologies, Inc. and Table Trac, Inc. Sign Definitive Joint Ligaz888 Venture and Distribution Agreements

Global Payment Technologies to Market Worldwide a New Joint Casino Gaming Product, Table Trac Lite, which includes its New ARGUS Currency Validator. The market is estimated in excess of 35,000 tables worldwide, or approximately $70 million.

 

Hauppauge, New York, July 11, 2001 – Global Payment Technologies, Inc. (NASDAQ Symbol:GPTX) (“GPT”), a leading manufacturer and innovator of currency acceptance systems used in the worldwide gaming, beverage, and vending industries, jointly announced with Table Trac, Inc. (OTC/BB: TBTC) of Minneapolis, Minn. the signing of the definitive agreements. Under the terms of the agreements GPT and Table Trac will each have the right to distribute and sell the new product, Table Trac Lite. In addition, GPT will receive an exclusive right to sell Table Trac’s casino management system product outside of the United States and Canada, subject to minimum sales requirements.

 

“Until now,” said Stephen Katz, Chairman & CEO of GPT, “casinos around the world have lacked the technology that our combined product, Table Trac Lite, provides. For the first time, a casino can have an automated secure way to monitor the currency received and other important performance variables at its gaming tables in real-time. Table Trac Lite is an economical way to provide currency validation and security that casino operators have been looking for.”

 

“The pairing of both firms brings new technologies to the Ligaz888 gaming industry, in which both companies have been operating, and will allow both of us to leverage GPT’s already established worldwide sales and support …