Slot makers strike deal

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Monday, Oct. 21, 2002 | 11:10 a.m.

Slot machine manufacturers Mikohn Gaming Corp. and Aristocrat Technologies Inc. have signed a development and licensing agreement in which Aristocrat will be an exclusive supplier of hardware for Mikohn's licensed recurring revenue products.

Las Vegas-based Mikohn will be responsible for developing games and licensing themes for games, while Aristocrat will integrate those games onto its latest hardware platforms. Both companies will share responsibility for marketing and servicing the games.

The deal will allow Australia-based Aristocrat to make its first significant foray into the licensed brand game market, Aristocrat President Mark Newburg said. Such games carry familiar brands that must be licensed from their creators and are generally leased to casinos, thus producing recurring revenue.

"The ability to offer our popular branded games on Aristocrat's hardware not only provides a reduction in our cost structure, but also allows both companies to gain market share in new jurisdictions," Mikohn President and Chief Executive Officer Russ McMeekin said.