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AG&E Holdings Inc. Provides Update On Progress Since November 2016 Merger

AG&E Holdings Inc. Provides Update On Progress Since November 2016 Merger

PR Newswire

HAMMONTON, N.J., May 17, 2017 /PRNewswire/ — AG&E Holdings Inc. (OTCQB: AGNU), whose wholly-owned subsidiary – American Gaming & Electronics, Inc. is one of the largest supply companies in the gaming industry, today provided an update on its progress since its acquisition in November 2016 of Advanced Gaming Associates LLC.

  • AG&E has moved certain of its operations in order to better serve its customers, including moving its Las Vegas facility and fulfillment center to a larger facility which is located closer to major gaming equipment manufacturers, and moving its Florida office to Palm Beach, which is a more central location for its customers. AG&E also expects to open a new facility in Illinois in June to better serve Midwest casinos.
  • AG&E has expanded its management team and sales force through the addition of Renee Zimmerman as Chief Financial Officer, along with two new sales representatives that bring significant experience in the high-end gaming products arena. The Company has also reorganized its sales territories to provide more efficient service and responsiveness to customers.
  • The Company is nearing completion of its license renewals and update process for the current year, and has also received six additional state, tribal and international licenses.

“We are pleased with our recent achievements, especially adding Ms. Zimmerman, whose talents will be critical for our future success,” said Anthony Tomasello, AG&E’s Chief Executive Officer. “We are very excited about the progress we’ve made and are optimistic about the coming months, especially as it relates to our efforts to expand our project business and add new and exciting products to our line up.”

About AG&E Holdings Inc.

AG&E Holdings Inc. is one of the largest suppliers of gaming parts, electronic components and technical labor, both domestically and internationally. AG&E is strategically located in Las Vegas, New Jersey, Florida and Illinois and its distribution chain reaches the Caribbean & Puerto Rico, Canada, and Eastern and Western Europe. AG&E also serves as the national warranty center for a major supplier of bill acceptors in the industry. It provides repair service for all types of monitors and bill validators and sells a wide array of products detailed on its web site http://www.agegaming.com.

Important Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for such forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “will,” and other similar statements of expectation identify forward-looking statements. Those statements include statements regarding the intent, belief or expectations of the Company and its management. Readers are cautioned that the forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and that actual results could differ materially from those expressed in any forward-looking statement. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, development of competing technologies, availability of adequate credit, interruption or loss of supply from key suppliers, increased competition, the regulatory process, an economic downturn and regulatory and legislative changes affecting the gaming industry. AG&E assumes no obligation to update the information contained in this release to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.

Investor & Media Contact

Investor & Media Contact
Paul Knopick
E & E Communications

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/age-holdings-inc-provides-update-on-progress-since-november-2016-merger-300458996.html

SOURCE AG&E Holdings Inc.

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