Multimedia Games Inc.  
                                Second Quarter Results                                          
                                    Quarter Ended
                              ----------------------------------------
                                March 31,     March 31,     Dec. 31,
                                  2002          2001          2001
                              ----------------------------------------
Gross revenue                 $75,952,000   $26,984,000   $58,891,000
Net revenue                    25,305,000     8,982,000    18,380,000
Net income                      6,889,000       945,000     4,751,000
Depreciation and amortization   3,613,000     2,278,000     3,198,000
EBITDA                         14,774,000     3,953,000    10,946,000
Diluted earnings per share           0.47          0.10          0.33

Other selected financial data (as of end of period):

                                March 31,     March 31,     Dec. 31,
                                  2002          2001          2001
                              ----------------------------------------
Cash and cash equivalents     $17,479,000    $2,393,000   $6,809,000
Inventory                       6,395,000     3,963,000    6,366,000
PPE, net                       29,400,000    13,350,000   26,899,000
Total assets                   68,303,000    26,427,000   54,537,000
Total liabilities              19,525,000    13,756,000   14,918,000
Total stockholders' equity     48,778,000    12,671,000   39,619,000
Working capital (deficit)       9,512,000    (1,086,000)   3,960,000

Player Stations installed (as of end of period):

                                March 31,     March 31,      Dec. 31,
                                  2002          2001           2001
                              ----------------------------------------
Class II - Legacy                   2,674         3,478        2,891
Class II - New Generation           3,775           456        2,933
Class III                           1,873         1,318        1,630

Six-month comparisons are as follows:

                                         Six-months Ended
                             March 31, 2002           March 31, 2001
                             ---------------------------------------
Gross revenue                $134,843,000                $48,591,000
Net revenue                    43,685,000                 16,023,000
Net income                     11,640,000                  1,309,000
Depreciation and
 amortization                   6,811,000                  4,609,000
EBITDA                         25,720,000                  7,011,000
Diluted earnings per share           0.80                       0.13