Paltronics Australasia Pty Ltd. Acquires Trans-Lux Australian Subsidiary Stock Holdings
FOR IMMEDIATE RELEASE
Chicago, IL - May 18, 2004 - Paltronics Australasia, a world-leading manufacturer of casino gaming systems and display technology, today announced the acquisition of Trans-Lux Corporation’s stock holdings in its Australian subsidiary on April 30, 2004. The deal provides Paltronics Australasia with gaming IP rights to Trans-Lux’ product lines, including; meters, controllers, associated gaming equipment, and a distribution license to sell indoor and outdoor display products in Australia and New Zealand.
“Paltronics is pleased with Trans-Lux’ products and technology,” said Stephen Cowan, general manager of Paltronics Australasia. “We hope to continue our business expansion efforts and product distribution in the Australian region, and look forward to building our relationship with Trans-Lux while implementing our technology into casinos around the world.”
As a leading manufacturer of media, slot, and table system technology, Paltronics Australasia’s purchase of Trans-Lux provides the ability to access a wide range of indoor and outdoor electronic displays. Such media devices will include; stadium score books, race books, sports books, vision writers and general information displays.
“We are happy to be part of this agreement with Trans Lux Corporation,” said Angelo Palmisano, president and chief executive officer of Paltronics Inc. “Paltronics Australasia’s knowledge and expertise in the gaming industry will provide the Australian market with high quality products, and the ability to showcase our technology through creativity and innovation.”
Paltronics
Founded in 1992, Paltronics’ revolutionary gaming technology creates efficiencies and drives excitement on the casino floor. First to market with premium-quality LED screens, bonusing technology, progressive and table systems, Paltronics has developed the only system that manages slots, tables and media in one elegant solution. A well-established international company with offices and affiliates in Las Vegas, Reno, Chicago, Atlantic City, Johannesburg, Sydney and London, Paltronics has built an impressive blue chip customer base and a reputation for technical excellence and innovation.
For more information:
Contact: Terri Cooper
Phone: 1.847.854.9300
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