American Wagering, Inc.

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International Guild of Hospitality & Restaurant Managers

American Wagering, Inc. (BETM.OB)

675 Grier Drive
Las Vegas, NV 89119

Phone: (702) 735-0101
Fax: (702) 735-0142
Email: info@americanwagering.com
Employees (last reported count): 200

American Wagering, Inc., incorporated in November 1977, was formed as the holding company for Leroy's Horse and Sports Place (Leroy's) and Leroy's Hotel Corporation (LHC). Leroy's, through a central computer system, operates a statewide network of sports and race wagering facilities in 41 casinos. Leroy's offers a turnkey sports and race wagering operation that allows casinos to satisfy their patrons desire for sports and race wagering without bearing the risk and overhead associated with running the operation. In October 1996, the Company acquired from Autotote Corporation all of the shares of capital stock of Autotote CBS, Inc., which was subsequently renamed Computerized Bookmaking Systems, Inc. (CBS), along with certain software and licensing rights pursuant to a stock transfer agreement between the Company and Autotote Corporation. CBS designs, sells, rents, installs and maintains sports and race book equipment, software and computer systems for the sports betting industry.

The Company also owns and operates Mega$ports (ACT) Pty. Ltd. (Mega$ports (ACT)) located in Canberra, Australia, an international wagering hub licensed to accept both fixed odds and pari-mutuel interactive wagers on the telephone and Internet. Mega$ports (ACT) accepts wagers from all jurisdictions that do not prohibit sports betting or Internet wagering. The United States is one jurisdiction that does prohibit this form of wagering, and, as such, Mega$ports (ACT) does not accept wagers from persons in the United States.

American Wagering also owns AWI Keno, Inc. (AWIK), which designs, installs, operates and maintains computerized keno systems and plans to offer keno players a statewide keno game with a progressive jackpot. On February 26, 2002, the Company temporarily closed its keno operations. It is American Wagering's intent to restructure AWIK in the next six months, to reopen the game and to keep its gaming license active. In the event that live keno operations do not recommence, the Company intends to keep AWIK's manufacturers license active for other new products developed by AWI.

On July 28, 1998, the Company, through two newly formed subsidiaries acquired certain assets from Advanced Computer Services, Inc. (ACS), a systems competitor of CBS, pursuant to an asset purchase agreement between American Wagering and ACS, and settled certain litigations between them. The Company's two new subsidiaries, AWI Sports Systems, Inc. (AWISSI) and AWI Hotel Systems, Inc. (AWIHSI) were the designated acquirer of the Nevada Sports wagering software and hotel systems software, respectively, and assumed certain contractual obligations of ACS, including all customer contracts. The Company initially owned 80% of AWISSI and 51% of AWIHSI and the sole shareholder of ACS owned the remaining interests. On June 8, 2000, American Wagering terminated a systems consulting agreement and sold the assets of AWIHSI to the sole owner of ACS in exchange for ACS's 49% and 20% interests in AWISSI and AWIHSI.

In November 1999, American Wagering formed Secured Telephone Operating Platform, Inc. (STOP), which designs, installs and operates a telephone call identification system for its customers. The system determines the origin of a telephone call and accepts or rejects the call based on its origination. The system is used in conjunction with telephone account wagering within the State of Nevada. The STOP system is being used by three casinos.

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The data included within the Financial section is solely for information and does not construe a recommendation and/or endorsement by IGHRM or its members to invest funds with any of the companies listed. You are strongly advised to obtain professional advice with qualified individuals or corporations for any investments of funds.

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