AGS SELECTS INDUSTRY VETERAN MIODUNSKI TO LEAD COMPANY
July 9, 2010
American Gaming Systems has appointed gaming industry veteran Robert L. Miodunski as its chairman and interim president and chief executive officer.
Miodunski, who as chief executive officer guided the corporate turnaround of Alliance Gaming Corp., was lured out of retirement by San Francisco-based Alpine Investors, which has stated its intent to make AGS a more influential player in the gaming equipment market.
Miodunski retired as chief executive officer of Alliance Gaming in September 2004 after a five-year run that saw the company’s split-adjusted publicly traded stock price move from below $2 to more than $100. During Miodunski’s tenure, Alliance's Bally Gaming and Systems business unit experienced tremendous growth, and coupled with several key technology acquisitions, set the stage for the company to become Bally Technologies, Inc., a leading global gaming supplier.
AGS’ portfolio of products includes Class III and Class II slots, Class III and Class II server-based gaming and wide-area progressives, most with an emphasis on locals play. AGS is a leader in the Class II space, providing video machines to tribal markets, and has offices in Nevada, Illinois, Oklahoma, South Carolina and Canada, with a satellite service presence in a number of other jurisdictions. AGS' current list of market approvals includes Oklahoma, California, Florida, New Mexico, Michigan, Maryland and Washington and is seeking regulatory approvals and gaming licenses in new jurisdictions every week.
“Alpine has decided to put strong financial backing behind and specific emphasis on its investment in AGS,” said Graham Weaver, president of Alpine Investors, “and Bob Miodunski delivers the credibility, the leadership and the motivation we need to take AGS to another level.”
Miodunski, who had focused on real estate development since leaving the industry, said the opportunity to take a profitable and growing technology company and push it into the mainstream of gaming suppliers was too good to pass up.
“Alpine Investors is dedicated to building on an impressive foundation and product line that already exists,” Miodunski said. “Our plan is to identify a high-caliber president and CEO that I will work with while retaining my position as chairman.”
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