AUSTIN, Texas--(BUSINESS WIRE)--Multimedia Games Holding Company, Inc. (Nasdaq: MGAM) (“Multimedia Games” or the “Company”) announced today that Dennis Neilander, 50, has been retained as a consultant for compliance and gaming regulatory matters and has assumed the role of Regulatory Compliance Committee (“RCC”) Chairman, subject to any required regulatory approvals. Mr. Neilander joins Stephen Greathouse, Chairman of the Board of Multimedia Games, and Punam Mathur, Vice President, Employee and Community Engagement at NV Energy and a former senior executive with MGM Mirage, on the RCC. Patrick Ramsey, President and CEO of Multimedia Games, is an ex officio non-voting member of the RCC. Jerry Smith, Multimedia Games’ General Counsel also serves as Chief Compliance Officer for the Company and advises the RCC.
In his new position, Mr. Neilander will act as an independent advisor to the RCC and interact, on an as needed basis, on the Company’s behalf with gaming regulators.
Mr. Neilander joined Kaempfer Crowell, a nationally-recognized Nevada law firm specializing in government affairs, litigation and real estate, as “of counsel”, in 2011. Prior to joining Kaempfer Crowell, Mr. Neilander served as a member of the Board for the State of Nevada Gaming Control Board (“GCB”) from 1998 – 2010, and was GCB chairman for the last 10 years of his tenure, marking the longest service in Nevada history as Chairman. He was appointed to the GCB by three different Governors. Prior to his appointment to the GCB, Neilander was Chief of the GCB Corporate Securities Division which regulates publicly traded gaming companies that operate in Nevada. Prior to his tenure with the GCB, Mr. Neilander also served as the primary research staff attorney for the Judiciary Committees of the Nevada State Legislature.
Jerry Smith commented on Neilander’s appointment, “Dennis’ knowledge of the gaming regulatory environment, laws and trends and public company regulatory compliance are tremendous assets to our RCC and our senior management team. With the growing number of jurisdictions where Multimedia Games is licensed to do business, which now totals more than 125 licenses in states (including Nevada) and tribal jurisdictions, and with numerous new licenses currently under review by state and tribal regulatory agencies, including Ohio and Pennsylvania, it is important for Multimedia Games to have an individual with Dennis’ experience participating in the oversight of our regulatory matters and helping ensure that our operations are conducted in compliance with all applicable gaming and other laws. We are fortunate to have him.”
Dennis Neilander commented, “I am impressed with both Multimedia Games’ continued product execution and expansion into new markets as well as its commitment to regulatory best practices. I look forward to working with Jerry, Pat, Steve, Punam, the Board and other senior management to play an integral role in the Company’s exciting growth opportunities and commitment to excellence in gaming regulation.”
Mr. Neilander was a member of the International Association of Gaming Regulators and served as President of this association in 2008 and is a member of the International Masters of Gaming Law (“IMGL”). He was awarded Gaming Regulator of the Year in 2007 by the IMGL and in both 2004 and 2008 was recognized as one of the 50 Most Influential Businessmen in Las Vegas by the Las Vegas Sun. Mr. Neilander earned a Bachelor of Arts degree in political science from the University of Northern Colorado and a Juris Doctor from University of Denver Law School.
About Multimedia Games Holding Company, Inc.
Through its wholly owned subsidiaries, Multimedia Games Holding Company, Inc. (“Multimedia Games”) develops and distributes gaming technology. The company is a creator and supplier of comprehensive systems, content and electronic gaming units for Native American gaming markets, as well as for commercial casinos and charity and international bingo markets. Revenue is primarily derived from gaming units in operation domestically and internationally installed on revenue-sharing arrangements. Multimedia Games also supplies the central determinant system for the video lottery terminals (“VLTs”) installed at racetracks in the State of New York. The company is focused on pursuing market expansion and new product development for Class II, Class III and VLT markets. Additional information may be found at www.multimediagames.com.
Cautionary Language
This press release contains forward-looking statements based on Multimedia Games' current expectations and projections, which are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. The words "believe", "will", "expect", "continue", "are confident that", "intend", "plan", "seek", "estimate", project", "may", or the negative or other variations thereof or comparable terminology as they relate to Multimedia Games and its products, plans, and markets are intended to identify such forward-looking statements. All forward-looking statements are based on current expectations and projections of future events.
These forward-looking statements reflect the current views, models, and assumptions of Multimedia Games, and are subject to various risks and uncertainties that cannot be predicted or qualified and could cause actual results in Multimedia Games' performance to differ materially from those expressed or implied by such forward looking statements. These risks and uncertainties include, but are not limited to, the ability of Multimedia Games to garner new market share, secure new licenses in new jurisdictions, successfully develop or place proprietary product, comply with regulations, or have its games approved by relevant jurisdictions. Other important risks and uncertainties that may affect the Company's business are detailed from time to time in the "Certain Risks" and "Risk Factors" sections of Multimedia Games' Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and elsewhere in Multimedia Games' filings with the Securities and Exchange Commission. All forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. Readers are cautioned that all forward-looking statements speak only to the facts and circumstances present as of the date of this press release. Multimedia Games expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.