VendingData Receives South Korean Order
VendingData(TM) Corporation (Amex: VNX), announced today that it has received a purchase order from one of its international distributors, TCSJohn Huxley, for ten Deck Checkers(TM) to be installed in the Kangwon Land Casino in Kangwon Province, Korea and the Seven Luck Casino in Seoul. This order represents VendingData(TM)'s first sale into Korea. TCS has requested delivery and installation by June 30, 2006.The 1969 ban against gambling in South Korea ended in October, 2000 with the opening of the first casino for Koreans in the remote town within Kangwon Province. Kangwon Land -- a Korean version of America's Las Vegas -- is made up of hotels, casinos, theme parks, and other service facilities. Its casino is equipped with 960 slot machines, 132 table games, and 477 guestrooms. Since its opening, over 5 million people -- both Korean and foreign nationals -- have visited the casino. Kangwon Land is the only casino in the nation, where Korean nationals are permitted entry. By law, only one casino in South Korea admits local citizens, with the remaining 13 open only to foreigners. The largest casino in South Korea with gaming space of over 2,600 sq. meters and approximately 80 gaming tables is currently the recently opened foreigner-only Seven Luck Casino in Seoul.
"These orders represent our first sale into Korea, the second largest gambling market in Asia, with annual revenues estimated at $956 million. Korean tourism and gaming industry is growing rapidly fueled by Chinese vacation travel. Entering the market through both the most established as well as the largest and newest casino in Korea validates our product line credibility in this market," commented Mark Newburg, CEO of VendingData(TM).