Aristocrat lands Boyd deal

May 21, 2002 7:07 AM
by

share

Aristocrat Technologies Inc., the Nevada subsidiary of an Australia-based manufacturer of gaming machines, has announced its first blockbuster deal in the Silver State. The company has entered into a long-term agreement with Boyd Gaming Inc. (BYD) to supply a "substantial quantity" of Aristocrat video and stepper gaming machines to 12 of the Boyd properties.

Aristocrat Technologies Inc. is the U.S. subsidiary of Aristocrat Leisure, Ltd., one of the world’s largest producers of slot machines. It has been part of the Nevada scene for the past year and has added to its presence by acquiring Casino Data Systems.

Commenting on the agreement, Aristocrat President Mark Newburg said, "For 50 years, Aristocrat has created games people want to play. With our recent entry into the U.S. market, casinos in this country have been getting their first taste of customer reaction to Aristocrat’s games."

Speaking for Boyd Gaming, Keith Smith, executive vice president and COO, said, "Over the last year or so, we have seen the increasing popularity of Aristocrat games in all of our properties. This agreement ensures that we will maintain a competitive advantage by continuing to offer the types of games our players love to play. We are pleased to partner with Aristocrat in bringing the very latest games to our customers."

Word of the Boyd Gaming agreement had an immediate impact on the Aristocrat Leisure Ltd. shares in Australia. Even though exact financial details of the deal were not released, investors jumped on the slots manufacturers shares, boosting the value up 7.14%.