NanoTech (NTEK) Wraps Up Successful Amusement Expo 2013 New Video Redemption and Gaming Products Well Received
SAN JOSE, Calif., March 25, 2013 /PRNewswire/ -- NANOTECH GAMING LABS, a division of NANOTECH ENTERTAINMENT (OTCPINK: NTEK), wrapping up a successful three day Amusement Expo 2013 today announced the debut of its second Video Redemption Game, MASHER. Built on the same redemption gaming platform use for Jumper, Masher will expand the offering of video redemption and skill with prize offering machines from NanoTech.
Jeffrey A. Foley, CEO of NanoTech, commented, "Our Gaming team had a very successful Amusement Expo 2013 where we met with many customers and distributors. While a preview of Jumper was on display, we were also able to show Masher in a private setting away from the show floor to several people." By leveraging the same platform, manufacturing costs for this second game are substantially reduced.
David Swanson, Vice President of Operations, noted, "We had several meetings with customers and other manufacturers who were looking for solutions for their games and will be using NanoTech products to help solve their problems. We have a line of I/O boards and Amplifiers that we developed for our games, but that we also offer to other companies who don't have the expertise in house to develop such components." By leveraging its unique designs, NanoTech has been able to create a secondary revenue stream from its internally developed components. Foley added, "We not only see a cost savings by being able to produce our components in larger quantities, but we help to provide a standard interface by which multiple manufacturers in the industry will develop their games around. By selling these products we will increase our revenues while having no increase in overhead costs."
The Amusement Expo is a focal point for the Coin-Op industry - serving as a showcase for the latest new equipment for the trade; providing hands-on information for buyers and sellers of the industry; and acting as the primary face-to-face conduit between trade partners in the coin machine business. Like many industry trade events, the AMOA Expo is the annual business barometer for the marketplace it serves. For those who need to keep abreast of the latest developments or want to maintain valuable contacts with fellow coin machine business men and women, the annually-conducted Expo was the place to be.
Foley closed stating, "We had forecasted our Ticker based games to generate several million in gross revenues and over a million dollars in profits for 2013 prior to attending the Amusement Expo. We were able to secure several new partnerships, including new manufacturing and distribution partners. We expanded our presence in the market by accepting the invitation to be a charter member of the DNA association. Finally, our team was able to welcome several of the NanoTech investment community members to the show, view our products and meet our team face to face. We are very excited about the NanoTech Gaming Labs first industry show."
About NanoTech Entertainment
Headquartered in San Jose, CA, with US operations in NV, MA, along with India and China, NanoTech Entertainment is a global technology company that focuses on all aspects of the entertainment industry. With three business units, focusing on Gaming, Media & IPTV and Mobile Apps, the company has a unique business model. The company has a diverse portfolio of products and technology. NanoTech Gaming Labs operates as a virtual manufacturer, developing its technology and games, and licensing them to third parties for manufacturing and distribution in order to keep its overhead extremely low and operations efficient in the new global manufacturing economy. NanoTech Media develops proprietary technology which it licenses to publishers for use in their products as well as creating and publishing unique content. NanoTech Communications develops and sells proprietary apps and technology in the Mobile and Consumer space. NanoTech is redefining the role of developers and manufacturers in the global market. More information about NanoTech Entertainment and its products can be found on the web at www.NanoTechEnt.com.
NanoTech Entertainment (OTCPINK: NTEK) trades on OTC Pink, the open marketplace for a wide spectrum of equity securities. Investors can find real-time quotes and market information at www.otcmarkets.com.
"Safe Harbor" Statement: Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
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Contact: Denise Clifford
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SOURCE NanoTech Entertainment