Progressive Gaming International is a leading supplier of Integrated Casino Management Systems Software and Games for the gaming industry worldwide. The Company develops and distributes an expanding array of slot and table games, plus management and progressive jackpot software systems.
The Company is unique in the industry in offering management, progressive systems and games as a modular yet integrated solution. There is a Progressive Gaming International product in virtually every casino in the world.

2008 First Quarter Financial Review:
Systems revenues, now reported as the sole component of revenues from continuing operations, rose 3%, or $0.5 million, to $15.2 million for the quarter ended March 31, 2008 from $14.7 million in the same period a year ago. The 2007 first quarter period has been adjusted for the discontinued operations of the slot and table games division. As a result, the now reported systems revenues of $14.7 million for the 2007 first quarter include approximately $1.1 million of game station and intellectual property license revenues that were previously classified as slot and table games revenues. The Company incurred a net loss from continuing operations in the three months ended March 31, 2008 of approximately $7.0 million, or $0.11 per share, compared to a net loss from continuing operations of approximately $7.4 million, or $0.21 per share for the three months ended March 31, 2007. There were approximately 62.0 million and 34.8 million weighted average shares outstanding in the March 2008 and March 2007 quarterly periods, respectively. 

The slot management systems installed base as of March 31, 2008 was 80,573, representing year-over-year growth of 29%, or 18,298 systems. The 6% quarterly sequential growth was in line with the quarterly sequential growth achieved in the prior year period and reflects the normal seasonality in the Company's business in which the first quarter is historically the slowest period for new slot management system installations. The Company installed 4,234 slot management systems in the first quarter of 2008, or approximately 17% of its expected full year total of 24,261, which represents expected full year growth of approximately 32%. The percentage of slot management systems installed in the first quarter of 2008 compared to the anticipated full year total is in line with the 19% level achieved in the first quarter of 2007. 

The installed base of table management systems as of March 31, 2008 was 6,533, more than double the installed base as of March 31, 2007, and representing quarterly sequential growth of 14%, or 793 table management systems. The 793 table management systems installed during the first quarter represents 25% of the expected 2008 full year table management system installations of 3,160 systems. 

                        As of     As of              As of
                      3/31/2008 3/31/2007 % Change 12/31/2007 % Change
Slot Management        80,573    62,275     29%      76,339      6%
Table Management        6,533     3,155     107%     5,740      14%
 

Commenting on the results, Progressive Gaming International Corporation President and Chief Executive Officer, Russel McMeekin, stated, "Our 2008 first quarter systems installation growth is consistent with our expectations in what is historically our seasonally slowest period. We remain on plan, and expect to achieve, our full year revenue, systems installations and gross margins targets. Since positioning the Company in 2007 to focus exclusively on the high-margin revenue opportunities associated with our slot and table management systems offerings, we have significantly and consistently increased the penetration of these products in key markets such as Europe, Asia and Canada. Additionally, we have recently expanded into Latin America where we currently have $3 million of backlog in contracts year-to-date with significant future potential in this rapidly growing region. 

Progressive Gaming International Reports First Quarter 2007 Financial Results 
    - Systems Installed Base Grows 18% Year-Over-Year and 6% on a    Quarterly Sequential Basis -
    - CJS Installations at March 31, 2007 Rise to 5,558, or 46% of  Company's 2007 Year-End CJS Target of 12,000 -
LAS VEGAS--(BUSINESS WIRE)--May 14, 2007--Progressive Gaming International Corporation(R) (NASDAQ: PGIC):
    Conference Call:    Today, May 14, 2007 at 11:00 a.m. EDT
    Dial-in numbers:    800/260-8140 or 617/614-3672 (international)
    Webcast:            www.progressivegaming.net
Progressive Gaming International Corporation(R) (NASDAQ: PGIC) ("the Company"), a leading provider of diversified technology and content products and services used in the gaming industry worldwide, today reported revenues of $16.9 million and a net loss of approximately $8.7 million, or $0.25 per share, for the quarter ended March 31, 2007, compared to revenues of $16.9 million and a net loss of $8.8 million, or $0.26 per share in the comparable year ago period. The first quarter 2007 operating results do not include approximately $3.8 million in revenues, representing $0.11 per fully diluted share, related to several large systems arrangements that were completed in the first quarter of 2007, but which, pursuant to Generally Accepted Accounting Principles ("GAAP"), will be recorded in the second quarter of 2007.
Excluding the results of the Company's Table Games Division ("TGD"), pro forma revenues in the 2007 first quarter were approximately $15.1 million compared to pro forma revenues of approximately $14.5 million in the prior year period. In the first quarter of 2007, the Company's systems business grew approximately 22% on a year-over-year basis when including the $3.8 million that was deferred in the first quarter of 2007. At March 31, 2007, the Company had approximately 5,558 CasinoLink(R) Jackpot Systems(TM) ("CJS") installations, representing approximately 46% of the Company's target of approximately 12,000 CJS systems installations at December 31, 2007.

    First Quarter 2007 Highlights:
    --  Continued expansion of systems installations with presence in
        over 33 countries and 21 North American jurisdictions as of
        March 31, 2007.
    --  Significant quarterly sequential growth in slot management
        systems, including approximately 2,400 CJS and over 800
        CasinoLink(R) installations.
    --  Several large systems installations were completed and
        installed in the first quarter of 2007 but pursuant to GAAP,
        the revenue related to these installations will not be
        recorded until the second quarter of 2007. As a result,
        approximately $3.8 million of revenue will be reflected in the
        Company's second quarter results. These installations are
        included in the reported installed base figures in this press
        release and in aggregate, these systems installations are
        expected to contribute multi-year recurring revenues of over
        $0.6 million annually.
    --  Adjusted Pro Forma EBITDA was $1.3 million, which left the
        Company in compliance with the financial covenants under its
        $22.5 million Senior Credit Facility. Adjusted Pro Forma
        EBITDA is defined in the Company's credit facility as EBITDA
        plus non-cash stock compensation cost plus the change in
        deferred revenues.
    --  Initiated the process for sale of TGD as part of ongoing focus
        on streamlining operations to focus on the Company's core
        systems business.

Progressive Gaming International Announces Settlement of Class Action Lawsuit 
LAS VEGAS--(BUSINESS WIRE)--March 2, 2007--Progressive Gaming International Corporation (Nasdaq:PGIC) (the Company), a leading provider of systems and technology used in the gaming industry worldwide, announced today that it has reached an agreement to settle the class action securities litigation currently pending in the United States District Court for the District of Nevada. The case, In re Mikohn Gaming Corp. Securities Litigation, has been pending since November 2005. Under the terms of the settlement, the plaintiffs agree to dismiss with prejudice all claims against all defendants, including the Company and its current and former officers and directors, in exchange for a payment in the amount of $2.8 million, virtually all of which is being provided pursuant to the Company's insurance coverage. Substantially all of the Company's costs related to the litigation will be reflected in the financial statements for the year ended December 31, 2006.
Also under the terms of the settlement, all defendants continue to deny any wrongdoing, and the parties agree that the settlement is not to be deemed an admission of the validity of any of the plaintiffs' claims. The settlement is contingent on the satisfaction of several conditions, including the completion by the plaintiffs of limited confirmatory discovery and approval by the court following notice to class members.

Progressive Gaming International Provides Update on Fourth Quarter Financial Results and Progress with Casinolink(R) Jackpot System Deployment 
Issues Financial Guidance for Fiscal 2007
Revenues of $85 Million to $95 Million
Gross Margins of 54% to 58%
LAS VEGAS--(BUSINESS WIRE)--Feb. 20, 2007--Progressive Gaming International Corporation (Nasdaq:PGIC) (the Company), a leading provider of systems and technology used in the gaming industry worldwide, issued an update today on its revenues and installed base for the fourth quarter ended December 31, 2006 and provided financial guidance for the fiscal year ended December 31, 2007.
The Company announced today that approximately $4.5 million (representing approximately 3,500 games) of Casinolink(R) Jackpot Systems(TM) ("CJS") and Casinolink(R) Enterprise installations originally expected to be recorded in the fourth quarter of 2006 are now expected to be recorded in fiscal 2007. The installations, which were completed in various stages during the fourth quarter of 2006, will be recorded upon receipt of formal customer acceptance documentation. The Company expects to record revenues of approximately $16 - $17 million for the fourth quarter of 2006, subject to final audit procedures, and expects to report an installed base of CJS games of approximately 3,100 at December 31, 2006 compared to 1,900 at September 30, 2006.
The Company intends to file a press release with full fourth quarter financial results after the market closes on March 5, 2007. A conference call to discuss the Company's operating results will be hosted by management on March 6, 2007 at 8:00 AM PST.
Chief Financial Officer Heather Rollo commented: "Our business momentum remains strong; however, the transition to a systems company will continue to create variances in our quarterly results. We intend to mitigate these quarterly variances through the growth of our installation base and related daily fee revenues. Our daily fees on systems contracts increased by over 50% in the fourth quarter of 2006 compared to the same quarter in 2005 and we are anticipating even higher growth in 2007. The fourth quarter 2006 revenue growth does not include the daily fees associated with the $4.5 million of transactions referred to above. During the fourth quarter of 2006, we were required to pre-pay certain inventories in conjunction with our system installations. However, we continue to require the majority of our CJS and Casinolink customers to pay a significant deposit upon execution of their contract to mitigate the upfront costs of inventory. We anticipate our cash balance at December 31, 2006 to be relatively consistent with prior periods."