VendingData Expands Line
VendingData(TM) Corporation (Amex: VNX) announced today that it will be entering the market for gaming plaques, which are used internationally by casinos for high stake games representing the highest monetary value denomination. Plaques are much larger than traditional gaming chips and their shape varies depending upon the casinos aesthetic preference -- rectangular, oval, etc. Because they are issued to "high rollers," plaques are usually highly decorative, featuring customized artwork of intricate designs specified by the casino. Dolphin plaques incorporate multiple security features of the latest technology -- both covert and overt. In the past, plaques have been formed and finished by hand, making them expensive and slow to manufacture. Dolphin plagues are entirely machine made with much higher precision while still maintaining the luxurious feel and appearance of the original, including fully customized features. Mark Newburg, VendingData's President and CEO stated, "The market for gaming plaques is predicted to rise exponentially, due to massive growth in Asia, where casinos have extensive facilities for high end gamblers. Our recent acquisition of Dolphin, with their manufacturing capabilities, and our patented RFID technology make this a logical step in the continuing expansion of our product line and broadening of our revenue base." Simon Herbert, VendingData's Vice President of Global Sales explained, "VendingData's patented RFID technology is a natural addition to the gaming plaque. In addition to providing enhanced security, the enhanced technology assists with marketing and accounting functions. Currently, there is only one manufacturing source of plaques and our customers, including a number of the largest international casino operators, have strongly encouraged us to offer an alternative or secondary source. We have developed a new manufacturing process which will deliver a highly cost-effective product, with or without embedded RFID technology. Casinos will be able to order Dolphin plaques which are superior in construction, more durable and highly decorative with a huge range of security features by fourth quarter 2006."
Simon Herbert continued, "As new entrants to the casino plaque market we will be cautious with our projections. Our advanced manufacturing techniques will, however, give us a distinct competitive advantage.
In the International market, casinos have an average ratio of 30% plaques to 70% chips. The global market for chips is estimated at 20 million units per year for the next 5 years. The value of the global market for plaques can therefore be estimated in excess of 6 million units per year over the next 5 years."