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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported): May 9, 1996
VIDEO LOTTERY TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-19322 81-0470853
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
115 Perimeter Center Place, Suite 911, Atlanta, GA 30346
(Address of principal executive offices and zip code)
(404) 481-1800
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On May 9, 1996 the Arizona Lottery Commission announced that it would seek
termination of its on-line-lottery contract with Video Lottery Technologies'
subsidiary, Automated Wagering International, Inc. (AWI), due to the claimed
inability of AWI to comply with certain contractual requirements in a timely
fashion. A copy of the press release announcing the event is attached as
Exhibit 5.1 hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit 5.1 Press Release by Video Lottery Technologies, Inc.,
dated May 9, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
VIDEO LOTTERY TECHNOLOGIES, INC.
Date: May 14, 1996 /s/ Richard M. Haddrill
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Richard M. Haddrill
Executive Vice President, Chief
Financial Officer and Treasurer
(authorized to sign on behalf of Registrant)
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EXHIBIT INDEX
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Exhibit Page
Number Description Number
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5.1 Press Release dated May 9, 1996 5
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Exhibit 5.1
FROM: VIDEO LOTTERY TECHNOLOGIES, INC.
115 Perimeter Center
Atlanta, GA 30346
MWW/Strategic Communications, Inc.
Public Relations - Tel. (201) 507-9500
Contact: Laurie Terry - Email: [email protected]
Bob Sommer - Email: [email protected]
FOR IMMEDIATE RELEASE
AUTOMATED WAGERING INTERNATIONAL'S ON-LINE CONTRACT WITH
ARIZONA TO BE CANCELLED
ATLANTA, May 9, 1996 -- Video Lottery Technologies, Inc. (Nasdaq National
Market: VLTS) today announced that the Arizona Lottery Commission has decided
to seek termination of its on-line lottery contract with VLT's subsidiary,
Automated Wagering International, Inc. (AWI), due to the claimed inability of
AWI to comply with certain contractual requirements in a timely fashion. At
the same time, the Lottery conceded that it did not have the necessary
resources to comply with the Company's proposed schedule designed to remedy and
complete various aspects of AWI's new system.
The Company, expressing extreme disappointment with the agency's arbitrary
action, said it intended to vigorously protest this decision, calling it unfair
and unjustified and reflecting a lack of good faith on the part of the Lottery.
It comes at a time when the Company has been in active discussions with the
Lottery seeking to resolve outstanding issues over the implementation of AWI's
advanced and innovative system.
Video Lottery Technologies, Inc., through its subsidiaries - Automated
Wagering International, Video Lottery Consultants and United Tote - is one of
the leading suppliers of system software, equipment and related services for
on-line lotteries, video lotteries and pari-mutuel systems throughout the
world.
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