Multimedia Games Incorporated Reports Loss for Third Quarter

Gaming company, Multimedia Games Incorporated, which is primarily based in Austin, Texas has reported losses in its earnings and profits for the third part of the fiscal year of 2006, which ended for Multimedia on June 30 of this year.

The company's loss for this quarter amounts to almost $585,000 dollars, equivalent to 2 cents per share, compared to its net income of $4.6 million dollars equivalent to 16 cents per share for the same period just last year.

Its quarterly revenue has also dropped, which totals about $32.2 million dollars in comparison to its $37.1 million dolars for the third quarter of 2006. According to the company(which trades under the name of MGAM) and which usually sells and supplies electronic games and gaming stations to Native American owned casinos; there are fewer players terminals that they have installed in gaming markets than the company have expected, which contributed greatly to the poor results this quarter. According to Multmedia President and CEO Clifton Lind, they were sorely disappointed especially with Oklahoma Market.

He added that the in the last few months, there have been a noticeable increased in placements and interest in a big number of stand alone machines in Oklahoma, which has greatly affected Multimedia's standing with its present customers because their machines are older and are linked, standard sequence type bingo games and titles.

Also the lower hold per day and the situation that their machines and games are more expensive compared to their competitors has greatly affected them. They really need to redouble their efforts to be one step ahead of their competitors.

Clifton Lind also said the Multimedia's newest Reel Time Bingo 1.2 gaming platform combined with its expanded supply agreement with a third party for non-linked bingo gaming machines has already given the company an improved fourth-quarter hold for day.

The company expects a 2 cents improvement of their earnings for the next quarter.

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