LAS VEGAS, April 3, 2003 (PRIMZONE) -- Innovative Gaming Corporation of America, (OTCBB:IGCA), a developer and manufacturer of fast playing, highly interactive gaming machines, today announced that it has entered into a definitive Settlement Agreement with GET USA, Inc. ("GET"), DPSS Ventures, Richard Phillips and Richard Depew.
Tom Foley, Chairman of the Board of IGCA stated, "I am pleased that we continue to make enormous strides in the right direction by systematically sticking to our game plan. This agreement settles nearly $765,000 worth of outstanding obligations that were incurred under the direction of prior management. Since change of management, we have eliminated nearly 20 percent of the company's outstanding liabilities. I am confident that we will continue to build shareholder value."
About Innovative Gaming
Innovative Gaming Corporation of America, through its wholly owned operating subsidiary, Innovative Gaming, Inc., develops, manufactures and distributes fast playing, highly interactive gaming machines. The Company distributes its products both directly to the gaming market and through licensed distributors. For more information, visit www.igca.com or call 702-614-7199.
Forward Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward looking matters discussed in this news release are subject to certain risks and uncertainties, including but not limited to issuance of additional convertible notes, the Company's liquidity and need to raise additional capital, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission, such as the Company's Form 10K for the fiscal year ended December 31, 2001. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
A registration statement relating to certain securities of the Company has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may or may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.