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WMS stakes hopes on slots jackpot; New games, gambling expansion improve odds for company rebound.(News)(WMS Industries Inc.)
Crain's Chicago Business, October, 2004 by Buchthal, Kristina
Byline: KRISTINA BUCHTHAL Investors are betting heavily on a comeback by casino game maker WMS Industries Inc. Shares of Waukegan-based WMS have climbed 40% since late August, driven by a new line of games and the growth of legalized gambling in the U.S. That's a big turnaround from 2002, when the stock sank to $10 a share after a software glitch, enabling gamblers to play WMS slot machines for free, drastically reduced the company's sales of new games.
WMS lost $8.3 million in the fiscal year ended June 30, 2003, and another $900,000 in fiscal 2004 as it fixed the bug and overhauled its lineup. A dollop of good news came in June, when Pennsylvania authorized slot machines at racetracks. More could come in November if a proposal to legalize casinos in...
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