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TheStreet Open House

GameTech International, Inc. Names Kevin Painter President And CEO

Stock quotes in this article: GMTC

RENO, Nev., June 24, 2011 /PRNewswire/ -- GameTech International, Inc. (NASDAQ: GMTC), a leading supplier of electronic bingo equipment and video lottery terminals, announced today that Kevin Painter has been named as President and Chief Executive Officer of the company. Mr. Painter's appointment as President and Chief Executive Officer became effective on June 21, 2011, but remains subject to regulatory approvals.

Mr. Painter joined the GameTech Board of Directors on April 13, 2011 and was recently appointed as Chairman of the Board. Mr. Painter's background includes more than 15 years of experience developing and managing manufacturing entities throughout China and Southeast Asia. This experience includes having served as Chairman of IBM Technology Products Co., IBM Corporation's first wholly owned manufacturing entity in China, and as Director and Chief Financial Officer of Hailiang Storage Products Co., an IBM joint venture in Shenzhen, China.

GameTech International, Inc. is in the business of designing, manufacturing, and marketing computerized bingo and gaming equipment, systems, and services. Under the GameTech® product brand the company provides electronic bingo systems and equipment, and is an innovator in advanced wireless gaming applications and devices. Under the Summit Gaming ™ product brand the Company provides video lottery terminal devices, gaming equipment, and related software and content. GameTech International, Inc. serves customers in 43 U.S. States, Canada, Japan, Mexico, Norway, Philippines, and the United Kingdom. The company was incorporated in 1994 and is headquartered in Reno, Nevada.

This press release includes various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent GameTech expectations or beliefs concerning future events. Statements containing expressions such as "believes," "anticipates," or "expects," used in the Company's press releases and periodic reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission ("SEC"), are intended to identify forward-looking statements. All forward-looking statements involve risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurances that actual results will not differ materially from expected results. The Company cautions that these and similar statements included in this report are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. GameTech undertakes no obligation to publicly release any revisions to such forward-looking statements to reflect events or circumstances after the date hereof.

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