LAS VEGAS -- American Wagering, Inc. (Nasdaq: BETM) just announced the acquisition of certain assets of Advanced Computer Services, Inc., a software developer specializing in race and sports book systems and hotel and casino property management systems.
The operations of Advanced Computer Services, Inc. generated revenues of $1.5 million in the last year. American Wagering, Inc. acquired these operations for $750,000 in cash and stock.
Advanced Computer Services, Inc. has a number of large and well known hotel and casino clients in Las Vegas and Reno, Nevada, including the Sahara, Frontier, Barbary Coast, Orleans, Gold Coast, Baldinis, El Cortez and Las Vegas Club hotels and casinos. American Wagering, Inc. also announced that, concurrent with this acquisition, they have formed separate subsidiaries for the software and contracts acquired. The subsidiaries will separate the assets and contracts into race and sportsbook systems and hotel systems.
"The acquisition of Advanced Computer Services assets reinforces our position as the leading provider of race and sports book equipment and services in the State of Nevada," American Wagering, Inc. CEO Vic Salerno said. "With the next wave of Mega-Resorts opening in the next 18 months, we expect our Computerized Bookmaking Systems (CBS) and these two new subsidiaries to be quite busy. Advanced Computer Services is an established company with an existing revenue stream. We look forward to integrating the assets we are acquiring with our existing operations."
American Wagering, Inc. owns and operates Leroy's Horse and Sports Place, the licensed bookmaker with the largest number of sportsbook locations in the state of Nevada; CBS, the dominant supplier of sports and race book equipment and software in Nevada and creator and operator of Mega$ports joint venture with International Game Technology. The company also owns and operates a 150 room hotel/casino complex in Las Vegas.