Brief: Spintek coin-weighing deviced approved

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Friday, Dec. 18, 1998 | 2:38 a.m.

The approval means AccuSystem is an accepted "second verifier," an electronic means of satisfying a regulatory standard that the number of coins placed in a machine hopper be verified by someone other than the employee charged with keeping machine hoppers full. Until now, that second verification requirement has meant casinos must have two employees on hand to fill a hopper.

Casinos that adopt AccuSystem will be allowed to effect hopper fills with one employee instead of two.

"We believe that casinos using AccuSystem for fill verifications will realize a substantial decrease in operational costs," said Gary Coulter, chairman and chief executive of Spintek.

Separately, Spintek said Coulter has bought 477,843 shares of company stock from the Malcolm C. Davenport V family trust. Davenport, trustee of the trust, is a company director.

"This transaction underlines my commitment to Spintek," said Coulter.

Spintek stock was down 2.7 cents in mid-day trading today to 25 cents. Over the past year, the stock has traded as high as 78 cents and as low as 20 cents.