Wells-Gardner Announces Finances

Wells-Gardner Electronics Corporation is known for their LCD and CRT monitors that they provide to the Las Vegas style Class III slot machines. The company is well known for their slot machine screens, and announced their finances as they have been showing a steady decline in sales.

The slot machine screen company says that they expect to see a decline in the second quarter of this year, and they expect it to be somewhere around $3 million less than last year. However, even though there is a decline in sales, they still expect there to be higher margins in the second quarter than there were same time last year.

They say that the sales decline is not in the selling of the monitors for the slot machines, rather they think that there are four separate things that are affecting their bottom line. They believe that prices have declined in those sales to slot machine manufacturers, they believe that a large portion of that decline was due to Europe having a weak slot machine market, they also think that part of that sales decline was a misinterpretation of what they Used Gaming Device business would bring in initially, and they think that the “softness” in the Class II slot machine sales by slot machine manufacturers has affected it as well.

A large portion of the Class II slot machine sales decline was in states such as Oklahoma and California. Slot machine casinos have slowed down in their openings in Oklahoma, and California has changed the compacts for the tribes for Class III slot machines. Part of it could be the decline in Class II slot machine sales for Florida as well.

Back to Monthly Archive // Main Slot Machine News Index