Galaxy Gaming, Inc. (GLXZ): I met with the company last week. They...

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iancassel

Re: RACKnRICKY post# 12

Wednesday, 09/01/2010 7:56:49 AM

Wednesday, September 01, 2010 7:56:49 AM

I met with the company last week. They explained it to me. What they shut down in July was the Interconnected jackpot system. The interconnected jackpot system is the bonus jackpot system + we finance the jackpots + they interconnect the jackpots among numerous casinos so the jackpot increases more rapidly. Basically its the Bonus Jackpot system on steroids.

What I got out of it was they shut it down because of 2 things. 1. The guy that made the official approval in March went on leave for 3 months and the person that replaced him didn't understand the interconnected system so they stopped it. 2. it was too big of a leap (going from A to C instead of A to B) from the Bonus Jackpot system. They are currently working on a "B" where GLXZ finances jackpots but they aren't interconnected and they expect this to be approved in the next 30 days or so. Then they will apply for "C", interconnecting them. Hope this helps.