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Multimedia Games' CEO Discusses F1Q12 Results - Earnings Call Transcript

Stocks in this article: MGAM

Unit sales also increased year-over-year as we sold 408 proprietary (inaudible) units in this year’s first quarter versus 201 in last year’s first quarter, and we did so by selling into 10 states, which is important as we continue to diversify our markets and customer base.

The second initiative that we previously discussed was to continue to increase the mix of successful proprietary Class II games in the footprint of our largest customer in Oklahoma. Year-over-year, we replaced over 350 Class III games with our own proprietary Class II games and we have plans to continue this game mix transition throughout the year. Our focus on this initiative and the success we are achieving in the game performance of our proprietary Class II games helps to strengthen our strategic relationship with the Chickasaw Nation.

As you may have read, two weeks ago we came to an agreement with the Nation regarding the extension of placements for over 2,000 units at several of their largest properties and we believe these extensions are a good indication of our alignment and our customers’ increased confidence in our strategic direction. These agreements were originally set to expire in the middle of 2013, and pursuant to our new agreements we have extended the majority of these units for 3.5 years beyond the original expiration date. We also worked together on a staggered re-pricing on our revenue share for our traunch of games at WinStar that was on a higher revenue share than all of the others throughout Chickasaw Nation. Working through these extensions and changes well ahead of the expiration was very important to us as our 2,000 (inaudible) game footprint generated over 25 million in revenue for our company in fiscal 2011.

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