Mr. Laus M. Abdo This is Me

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1. 1. Today's News

   www.prnewswire.com/cgi-bin/sto - [Cached]

   Published on: 11/5/2002   Last Visited: 11/5/2002

   Commenting on the article, Laus M. Abdo, Chief Executive Officer and President of Innovative Gaming said, "This is a very exciting sector of the slot machine market -- one with an ever increasing prominence. Inclusion of Innovative Gaming's 3 Hand Poker in the article 'Best of Show' in Global Gaming Business is further confirmation of the positive response we have had to 3 Hand Poker. The casino operators who have previewed the game have indicated their buying interest already upon the required regulatory approval anticipated in the near future. We look forward to the product rollout scheduled late in the 4th Quarter 2002, and are pleased with this pre-approval publicity." The introduction of the 3-Hand Poker, the first in a series of recurring revenue video poker game offerings under development by Innovative Gaming, was identified earlier in the year by Innovative Gaming's management as one of the milestones to re-emerge in 2003 as a profitable company. 3-Hand Poker along with the recently approved Ticket-In Ticket-Out/Cashless technology will further complement Innovative's popular video slot products. Currently the Company has 16 video gaming titles including bonus games.
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   For further information, please contact Investors, Jens Dalsgaard, Managing Director of Redwood Consultants, LLC, +1-415-884-0348, for Innovative Gaming Corporation of America; or Laus M. Abdo, President, CEO and Chief Financial Officer of Innovative Gaming Corporation of America, +1-702-614-7199.

2. 2. Today's News

   www.prnewswire.com/cgi-bin/sto - [Cached]

   Last Visited: 10/29/2002

   Commenting on the change in accounting, Laus M. Abdo, Chief Executive Officer and President of IGCA said, "We want to take the most fiscally conservative approach possible in our financial reporting. This change in accountancy will defer current product shipment revenue recognition to subsequent quarters. Although this will reduce the revenues reported in the 3rd and 4th Quarters, the revenue recognition will better reflect the actual timing of cash receipts from our customers."
   
   Preliminary Third Quarter Results
   
   In addition, the Company provided guidance for the quarter ending September 30, 2002.
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   In releasing the preliminary Third Quarter results, Mr. Abdo said, "Much of the Company's time and energy was focused on a private placement in the Third Quarter which helped to financially stabilize the Company. That effort, combined with a hardware supplier (parts) issue that has now been resolved, the termination of the GET merger, and the change in policy concerning revenue recognition, collectively resulted in lower than anticipated revenues for the Third Quarter."
   
   The Company indicated that although it has given financial guidance in the past, that guidance can be impacted by the timing of regulatory approvals. Due to the uncertainties associated with the timing of regulatory approvals, from this point forward the Company intends to provide guidance based on important milestones. The following Milestones were achieved in the 3rd Quarters of 2003:
   
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   Commenting on the revised guidance for 2002, Mr. Abdo said, "Substantial progress is being made to return to profitability in 2003. The Company has reduced its operating expenses by approximately 50% over the first nine months of the year compared to the nine months ended September 30, 2001. The Company has reduced its outstanding liabilities by over $1 million year to date and has lowered its breakeven to a little more than 100 units per month."
   
   Preliminary Projections for Fiscal Year 2003 and 2004
   
   Based on average monthly sales of 175 units, fairly evenly distributed between Video Slots and Video Poker in 2003, the Company expects 2003 Net Revenues to be between $20 million and approximately $23 million with EBITDA of between $3.0 million and $3.5 million.
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   For further information please contact: investors, Jens Dalsgaard, Managing Director of Redwood Consultants, LLC, +1-415-884-0348, for Innovative Gaming Corporation of America; or Laus M. Abdo, President, CEO and Chief Financial Officer of Innovative Gaming Corporation of America, +1-702-614-7199.

3. 3. Yahoo - Innovative Gaming Announces Preliminary Second Quarter Results; Provides Guidance on Third & Fourth Quarter 2002

   biz.yahoo.com/prnews/020711/la - [Cached]

   Published on: 7/11/2002   Last Visited: 7/11/2002

   "We are tremendously pleased with the continuing rapid improvement in our market positioning and financial situation," said Laus M. Abdo, newly-named CEO of Innovative Gaming Corporation of America. "A 100%-plus quarter-over- quarter revenue increase is a glowing testimonial to the market reception for our products, and we're approaching break-even EBITDA just two quarters after experiencing losses of a million dollars a month. Our gross profit margin of 50% is well in line with current industry benchmarks."
   
   The Company continues to estimate 2002 revenues at approximately $17.8 million, and has lowered the projected 2002 EBITDA to $4.5 million versus earlier projections of $5.1 million. The Company further indicated that its projections are dependent on the completion of its re-capitalization as well as the timing of the receipt of regulatory approvals for new products.
   
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   For further information please contact: IGCA Investor Relations - Jens Dalsgaard, Managing Director of Redwood Consultants, LLC., +1-415-884-0348; or Laus M. Abdo, President & Chief Executive Officer of Innovative Gaming Corporation of America, +1-702-614-7199.