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Vegas-based manufacturer reports loss for quarter

Monday, Aug. 19, 2002 | 11:08 a.m.

Innovative Gaming Corp. of America, a Las Vegas-based gaming machine manufacturer and distributor, reported a $996,000 loss, or 3 cents per share, for the second quarter ended June 30, compared to a $110,000 profit, or 1 cent per share, in the same period of 2001.

Revenue also declined from the second quarter 2001 to this year, from $4.7 million in 2001 to $2.6 million in 2002.

IGCA also announced it will terminate its merger with GET USA Inc. and has agreed to enter into product-development and licensing agreements for the joint development of new products.

Innovative said it introduced eight new slot titles in the second quarter and has four more awaiting approval from gaming regulatory labs. The company has committed to release 15-20 new slot titles each year.

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