RENO, Nev., Feb. 2, 2011 /PRNewswire/ -- On February 2, 2011, GameTech International, Inc.
("GameTech" or the "Company") (Nasdaq: GMTC), a leading designer,
developer and marketer of interactive electronic bingo equipment,
bingo systems, and video lottery terminals, announced that on
January 28, 2011, the Company
received notice that the NASDAQ Stock Market, LLC ("Nasdaq") had
approved the Company's application to transfer its common stock
from the Nasdaq Global Market (the "Global Market") to the Nasdaq
Capital Market (the "Capital Market"). In connection with the
transfer to the Capital Market, on February
1, 2011, Nasdaq notified the Company that it had granted the
Company an additional 180 calendar days, or until August 1, 2011, to regain compliance with the
$1.00 per share minimum closing bid
price requirement for continued listing on the Nasdaq Capital
Market.
The Company's common stock began trading on the Capital Market,
and ceased trading on the Global Market, at the opening of
business, February 1, 2011. The
trading symbol for the Company's common stock remains "GMTC."
According to Nasdaq, the Capital Market operates in
substantially the same manner as the Global Market.
GameTech International, Inc. is in the business of designing,
developing, manufacturing, and marketing interactive computerized
bingo equipment and systems, video lottery terminals, slot machine
gaming devices, and related software. GameTech International,
Inc. is an innovator in advanced wireless gaming applications and
devices as well as software and content for traditional slot
machine games. GameTech International, Inc. serves customers
in 40 U.S. states, Canada,
Japan, and the United Kingdom. The company was incorporated
in 1994 and is headquartered in Reno,
Nevada.
Statements in this press release that are not historical facts
are intended to be forward-looking statements subject to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. GameTech cautions that these statements are
qualified by important factors that could cause actual results to
differ materially from those reflected by the forward-looking
statements contained herein. Such factors may include risks
associated with doing business in a regulated industry, our ability
to retain customers and secure new customers, risks associated with
rapid technological change, and those disclosed in documents filed
by the Company with the Securities and Exchange Commission,
including the Company's most recently filed Annual Report on Form
10-K and Quarterly Reports on Form 10-Q. GameTech does not intend,
and undertakes no obligation, to update our forward-looking
statements to reflect future events or circumstances.
SOURCE GameTech International, Inc.