Multimedia Games Appoints Todd McTavish as Senior Vice President, General
Counsel and Chief Compliance Officer
AUSTIN, Texas -- January 2, 2013
Multimedia Games Holding Company, Inc. (Nasdaq: MGAM) (“Multimedia Games” or
the “Company”) announced today the appointment of Todd McTavish, 44, as Senior
Vice President, General Counsel, Chief Compliance Officer, and Corporate
Secretary. The appointment, effective January 21, 2013, is subject to the
receipt of certain regulatory approvals.
Mr. McTavish has extensive expertise in gaming industry and general corporate
legal and regulatory compliance matters, having most recently served as
General Counsel at Video Gaming Technologies, Inc., (“VGT”), a manufacturer of
games for Class II and emerging gaming markets. In that role, he was
responsible for leading the Legal & Compliance Department, supervising
in-house attorneys, overseeing the corporate compliance function, and managing
regulatory consultants, lobbyists and outside legal counsel. Before being
named General Counsel in 2011, Mr. McTavish had served as VGT’s Corporate
Legal Counsel since 2008. Prior to joining VGT, Mr. McTavish served as Vice
President of Business Development and General Counsel at D1 Sports Holdings,
Inc., from 2005 to 2008. He also served in a financial consulting role at
PricewaterhouseCoopers LLP and in the tax planning department at PepsiCo, Inc.
from 2003 to 2005, and began his career as an Associate in the Corporate,
Securities and Finance Department at Cadwalader, Wickersham & Taft LLP, where
he served from 1998 to 2003.
Patrick Ramsey, President and Chief Executive Officer of Multimedia Games,
commented, “Todd brings to our executive team a broad range of corporate legal
experience as well as a deep knowledge of the gaming industry and its unique
regulatory and compliance issues. As the Company expands its product portfolio
and continues its efforts to secure licenses in new jurisdictions, we are
facing an ever changing and increasingly complex legal and regulatory
environment. Todd is the ideal person to shape our strategies to address this
evolving environment and we are excited to welcome him to our growing, highly
dedicated team in Austin.”
Mr. McTavish holds a B.A. in Political Science from West Virginia University,
a J.D. from Touro College Law Center and a Masters of Corporate Finance Law,
Cum Laude, from the Fordham University School of Law. He is a member of the
International Association of Gaming Advisors and the American Bar
Association’s Gaming Law section.
About Multimedia Games Holding Company, Inc.
Through its wholly owned subsidiary, 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.
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", "expect", "continue",
"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 maintain strategic alliances; increase its unit placements, installations
or installed-base; grow revenue; 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.
Please refer to the Company’s most recent Form 10-K and subsequent filings
with the Securities and Exchange Commission for a further discussion of risks
and uncertainties. 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.
Multimedia Games Holding Company, Inc.
Adam Chibib, 512-334-7500
Chief Financial Officer
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