Paul-Son Receives Chip Order From Tribal Casino in California, Furniture and Playing Card Orders From Five Other Casinos; Also Announces Additional Purchases of Common Stock
LAS VEGAS--(BUSINESS WIRE)--Aug. 30, 2000--Paul-Son Gaming Corporation (NASDAQ: PSON), a leading manufacturer and supplier of casino table game equipment in the U.S., announced today that it has received a purchase order for casino chips from a California Native American casino, the Viejas Casino. It is one of the company's first orders from a tribal casino in California since the state began entering into compacts with Native American casino operators.
Paul-Son also received orders for playing cards, furniture and casino chips from five other new or existing casino customers. The company will supply casino chips and table furniture to the Hollywood Casino and Harrah's Casino (previously a Player's Casino property) in Louisiana. The Foxwoods Casino in Ledyard, Connecticut, has ordered table furniture and seating from Paul-Son for its casino expansion. Additionally, Casino Rouge in Baton Rouge, Louisiana, and Trump Casinos-Atlantic City have signed contracts with Paul-Son for casino playing cards.
Eric P. Endy, chairman and chief executive officer of Paul-Son, said, "We welcome these orders and we are especially pleased that a premier customer such as the Trump organization has selected Paul-Son to supply its casinos with our playing cards." Paul-Son now sells all of its primary gaming supply products to Trump Casinos-Atlantic City, he noted.
Endy added, "We recently completed the delivery of casino chips to the newly-opened Aladdin Hotel/Casino on the Las Vegas Strip and will be delivering casino chips, furniture and miscellaneous equipment this week for the opening of the SunCoast Hotel/Casino in Las Vegas."
The company also reported that it recently purchased 3,000 shares of its common stock in accordance with its previously announced stock repurchase plan, reflecting management's belief that the price of Paul-Son's common stock is undervalued. The company announced in 1998 that it planned to repurchase up to five percent, or approximately 180,000 shares, of its outstanding common stock over a period of years.
Paul-Son is a leading manufacturer and supplier of casino table game equipment in the United States with manufacturing facilities in San Luis, Mexico and, to a limited extent, Las Vegas, NV.
This press release contains certain forward-looking statements which are subject to change. The actual results may differ materially from those described in any forward-looking statements. Additional information concerning potential factors that could affect the company's financial results are included in the company's form 10-K for the year ended May 31, 2000.
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