Release Details
TRANSACT TO ENTER MACAU
TRANSACT TO ENTER MACAU
April 2, 2007
TRANSACT TO ENTER MACAU 13.3 KB
TRANSACT TO ENTER MACAUWallingford, CT, April 2, 2007 TransAct Technologies Incorporated (NASDAQ: TACT), a leading producer of market specific printers for transaction-based industries worldwide, today announced that it will expand into Macau, China the dominant hub of the fast growing Asia Pacific market. Andrew Hanley will serve as Sales Manager, Asia & Australia, Global Gaming & Lottery Division and will be based in Macau.
Bart C. Shuldman, Chairman, President and Chief Executive Officer, commented, "Macau is the driving force in the Asia Pacific market. Our proven model in the U.S., Europe and Australia has been to build a local presence to best serve customers. As a result, international casino printer sales now represent a significant percentage of our gaming and lottery sales. By cost efficiently establishing a local presence in Macau, we will be able to leverage the success we have already had to further accelerate growth in the Asia Pacific market, including Australia."
Mr. Shuldman continued, "The Asia gaming market is just beginning to take off and the opportunities for TransAct to gain additional market share are vast. Although Asia has historically been a table game market, one of the goals for new casinos opening in the region is to add slot play into the Asian experience. In addition to new casinos being constructed, many other casinos are now talking about expanding their casino floor to include more slot machines. TransAct's Epic 950® thermal casino printer enables printing in two colors and in Chinese characters. This has enabled casinos in the region that are already using the Epic 950®, including Wynn Macau where TransAct won 100% of the slot floor, to differentiate and improve the customer slot experience."
TransAct appointed Andrew Hanley to lead the Company's sales efforts in Asia and Australia, where TransAct already has a considerable market share. Andrew will be responsible for the sales and marketing of the Company's casino gaming printer products and services into targeted key manufacturers and resort groups based in Macau and Australia. Andrew joined TransAct with over 12 years of casino gaming experience, including spending the last four years focused on the Asian market. In his most recent position, Andrew was Group Sales and Marketing Manager for Mark Sensing Australia PTY Ltd., where he was responsible for entering new geographic markets and establishing joint ventures and distribution centers worldwide..
Commenting on the appointment Mr. Shuldman stated, "Andrew's industry experience and enthusiasm will be a valuable asset to TransAct. During his career, he has successfully built strong relationships with casino properties and slot machine manufacturers around the world, which have directly resulted in increased sales and market penetration. We believe that his experience in the Asian market combined with his past success makes him the right person to have on the ground in Macau. We look forward to Andrew's contributions as we continue to expand and add market share in Asia."
About TransAct Technologies Incorporated TransAct Technologies Incorporated (NASDAQ:TACT) is a leader in developing and manufacturing market-specific printers for transaction-based industries. These industries include gaming, lottery, banking and hospitality. Each individual market has distinct, critical requirements for printing and the transaction is not complete until the receipt and/or ticket is produced. TransAct printers are designed from the ground up based on market specific requirements and are sold under the Ithaca® and Epic product brands. TransAct distributes its products through OEMs, value-added resellers, selected distributors, and direct to end-users. TransAct has over two million printers installed around the world. TransAct also has a strong focus on the after-market side of the business, with a high commitment to printer service, supplies and spare parts. TransAct is headquartered in Wallingford, CT. For more information on TransAct, visit www.transact-tech.com or call 203.859.6800.
Contacts: Steven DeMartino, Chief Financial Officer, 203-859-6810 or David Pasquale, 646-536-7006, or Denise Roche, 646-536-7008, both with The Ruth Group
# # #
Forward-Looking Statements:
Certain statements in this press release include forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "project" or "continue" or the negative thereof or other similar words. All forward-looking statements involve risks and uncertainties, including, but are not limited to, customer acceptance and market share gains, both domestically and internationally, in the face of substantial competition from competitors that have broader lines of products and greater financial resources; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; dependence on significant vendors; the ability to recruit and retain quality employees as the Company grows; dependence on third parties for sales outside the United States, including Australia, New Zealand, Europe, Latin America and Asia; economic and political conditions in the United States, Australia, New Zealand, Europe, Latin America and Asia; marketplace acceptance of new products; risks associated with foreign operations; availability of third-party components at reasonable prices; price wars or other significant pricing pressures affecting the Company's products in the United States or abroad; risks associated with potential future acquisitions; and the outcome of lawsuits between TransAct and FutureLogic, Inc. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and the Company assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.
Bart C. Shuldman, Chairman, President and Chief Executive Officer, commented, "Macau is the driving force in the Asia Pacific market. Our proven model in the U.S., Europe and Australia has been to build a local presence to best serve customers. As a result, international casino printer sales now represent a significant percentage of our gaming and lottery sales. By cost efficiently establishing a local presence in Macau, we will be able to leverage the success we have already had to further accelerate growth in the Asia Pacific market, including Australia."
Mr. Shuldman continued, "The Asia gaming market is just beginning to take off and the opportunities for TransAct to gain additional market share are vast. Although Asia has historically been a table game market, one of the goals for new casinos opening in the region is to add slot play into the Asian experience. In addition to new casinos being constructed, many other casinos are now talking about expanding their casino floor to include more slot machines. TransAct's Epic 950® thermal casino printer enables printing in two colors and in Chinese characters. This has enabled casinos in the region that are already using the Epic 950®, including Wynn Macau where TransAct won 100% of the slot floor, to differentiate and improve the customer slot experience."
TransAct appointed Andrew Hanley to lead the Company's sales efforts in Asia and Australia, where TransAct already has a considerable market share. Andrew will be responsible for the sales and marketing of the Company's casino gaming printer products and services into targeted key manufacturers and resort groups based in Macau and Australia. Andrew joined TransAct with over 12 years of casino gaming experience, including spending the last four years focused on the Asian market. In his most recent position, Andrew was Group Sales and Marketing Manager for Mark Sensing Australia PTY Ltd., where he was responsible for entering new geographic markets and establishing joint ventures and distribution centers worldwide..
Commenting on the appointment Mr. Shuldman stated, "Andrew's industry experience and enthusiasm will be a valuable asset to TransAct. During his career, he has successfully built strong relationships with casino properties and slot machine manufacturers around the world, which have directly resulted in increased sales and market penetration. We believe that his experience in the Asian market combined with his past success makes him the right person to have on the ground in Macau. We look forward to Andrew's contributions as we continue to expand and add market share in Asia."
About TransAct Technologies Incorporated TransAct Technologies Incorporated (NASDAQ:TACT) is a leader in developing and manufacturing market-specific printers for transaction-based industries. These industries include gaming, lottery, banking and hospitality. Each individual market has distinct, critical requirements for printing and the transaction is not complete until the receipt and/or ticket is produced. TransAct printers are designed from the ground up based on market specific requirements and are sold under the Ithaca® and Epic product brands. TransAct distributes its products through OEMs, value-added resellers, selected distributors, and direct to end-users. TransAct has over two million printers installed around the world. TransAct also has a strong focus on the after-market side of the business, with a high commitment to printer service, supplies and spare parts. TransAct is headquartered in Wallingford, CT. For more information on TransAct, visit www.transact-tech.com or call 203.859.6800.
Contacts: Steven DeMartino, Chief Financial Officer, 203-859-6810 or David Pasquale, 646-536-7006, or Denise Roche, 646-536-7008, both with The Ruth Group
# # #
Forward-Looking Statements:
Certain statements in this press release include forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "project" or "continue" or the negative thereof or other similar words. All forward-looking statements involve risks and uncertainties, including, but are not limited to, customer acceptance and market share gains, both domestically and internationally, in the face of substantial competition from competitors that have broader lines of products and greater financial resources; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; dependence on significant vendors; the ability to recruit and retain quality employees as the Company grows; dependence on third parties for sales outside the United States, including Australia, New Zealand, Europe, Latin America and Asia; economic and political conditions in the United States, Australia, New Zealand, Europe, Latin America and Asia; marketplace acceptance of new products; risks associated with foreign operations; availability of third-party components at reasonable prices; price wars or other significant pricing pressures affecting the Company's products in the United States or abroad; risks associated with potential future acquisitions; and the outcome of lawsuits between TransAct and FutureLogic, Inc. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and the Company assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.