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): December 22, 1997
Powerhouse 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)
2311 So. 7th Avenue, Bozeman, MT 59715
(Address of principal executive offices and zip code)
(406) 585-6600
(Registrant's telephone number, including area code)
Video Lottery Technologies, Inc.
(Former name of registrant)
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Item 5. Other Events
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On December 22, 1997, the Company announced that it will change its name to
Powerhouse Technologies, Inc. (Nasdaq National Market: PWRH), effective January
1, 1998. The Company's press release is attached as Exhibit 99.1 hereto.
Item 7. Financial Statements and Exhibits
---------------------------------
(c) Exhibits.
Exhibit 3.(i) Certificate of Amendment to Certificate of
Incorporation filed with the State of Delaware
Secretary of State on December 22, 1997.
Exhibit 99.1 The Company's Press Release dated December 22,1997.
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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: December 31, 1997 /s/ Janet M. Bjork
--------------------
Janet M. Bjork
Assistant Secretary
(Authorized to sign on behalf of Registrant)
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EXHIBIT INDEX
Exhibit Page
Number Description Number
- ------ ----------- ------
3.(i) Certificate of Amendment to Certificate of Incorporation 5
99.1 Press Release dated December 22, 1997 6
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Exhibit 3.(i)
STATE OF DELAWARE
SECRETARY OF STATE
DIVISION OF CORPORATIONS
FILED 12:07 PM 12/22/1997
971442343 - 2263871
CERTIFICATE OF AMENDMENT TO
CERTIFICATE OF INCORPORATION OF
VIDEO LOTTERY TECHNOLOGIES, INC.
I, Richard M. Haddrill, President, Chief Executive Officer and
Treasurer of Video Lottery Technologies, Inc., hereby certify that the following
amendment has been duly adopted pursuant to Section 242 of the Delaware General
Corporation Law.
Article 1 of the Company's Certificate of Incorporation is hereby
amended to read as follows:
ARTICLE 1. The name of this corporation is Powerhouse Technologies,
----------
Inc.
/s/ Richard M. Haddrill
Richard M. Haddrill
President, Chief Executive Officer and Treasurer
STATE OF MONTANA )
: ss.
County of Gallatin )
On this 19 day of December, 1997 before me, a notary public in and for said
State, personally appeared Richard M. Haddrill known to me to be the President,
Chief Executive Officer and Treasurer of Video Lottery Technologies, Inc., the
person who subscribed this document and who acknowledged to me the execution of
the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial
seal the day and year first above written.
/s/ Vicki L. Consoli
Notary Public for the State of Montana
( S E A L ) Residing at Bozeman, Montana
My commission expires: 1/2/98
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Exhibit 99.1
FROM: VIDEO LOTTERY TECHNOLOGIES, INC.
115 Perimeter Center 2311 South 7th Avenue
Atlanta, GA 30346 Bozeman, MT 59715
Jay Schuttler (406)585-6607
Email: [email protected]
Web site address: www.vlt.com
The MWW Group
Public Relations - Tel. (201) 507-9500
Contact: Laurie Terry Fern - Email: [email protected]
Bob Sommer - Email: [email protected]
----------------------------------------------------------------
FOR IMMEDIATE RELEASE
VIDEO LOTTERY TECHNOLOGIES, INC. ANNOUNCES NAME CHANGE TO
POWERHOUSE TECHNOLOGIES, INC., EFFECTIVE JANUARY 1, 1998
Powerhouse Name Demonstrates Company's Leadership
in World's Gaming Technology Market
ATLANTA, December 22, 1997 - Video Lottery Technologies, Inc. (Nasdaq
National Market: VLTS), announced today that it will change its name to
Powerhouse Technologies, Inc. (Nasdaq National Market: PWRH), effective January
1, 1998.
According to Richard M. Haddrill, President and CEO of Video Lottery
Technologies, Inc., "The name change is being made because the corporation has
simply outgrown the scope of its original name. Although we remain the worldwide
leader in supplying the video lottery industry, we now are a dominant player in
on-line lottery systems, casino gaming markets, and pari-mutuel systems, and we
are also in the process of opening our first racetrack casino.
"The name Powerhouse Technologies better represents the broad scope of our
leading edge technology," continued Haddrill, "as well the strength and energy
of our management and employees."
-more-
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POWERHOUSE
TAKE 2-2
"This has been a year of great excitement and profitability for our
company. We have delivered on the promises made last year to increase
shareholder value and have emerged as a stronger, more focused company," said
Haddrill. "We remain committed to building long-term shareholder value as we
enter 1998."
The Company's main operating subsidiaries -- AWI, VLC, United Tote and
Sunland Park racetrack -- will continue to maintain their identities under the
Powerhouse Technologies umbrella.
Video Lottery Technologies, Inc., through its subsidiaries -- Automated
Wagering International, Inc. (AWI), United Tote Company, VLC, Inc. and Sunland
Park racetrack-- 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, and a manufacturer and distributor of gaming
devices for casinos. Presently, the subsidiaries' equipment and systems are in
operation in the United States, Canada, Australia, Europe, South America and the
Caribbean.
###
The private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Some statements in this release are
forward-looking and are subject to certain risks and uncertainties. These
include, but are not limited to, economic conditions, changes in laws or
regulations, demand for the products and services of the Company, and the
effects of competition. These risks and uncertainties could significantly affect
anticipated results in the future and actual results may differ materially from
any forward-looking statements. For more information on the potential factors
which could affect the Company's business and financial results, see the
Company's filings with the Securities and Exchange Commission, including the
annual report on Form 10- K dated December 31, 1996 and Form 10-Q dated
September 30, 1997.
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