EILERS – FANTINI Slot Survey - Eilers & Krejcik Gaming,...

EILERS – FANTINI Quarterly Slot Survey

The Gaming Industry’s largest Slot Survey

Summary Results for 1Q CY13

Todd Eilers – Director of Research, Eilers Research, LLC

Frank Fantini – CEO, Fantini Research

Companies mentioned:

International Game Technology (IGT)

Bally Technologies (BYI)

WMS Industries (WMS)

Aristocrat (ALL.AU)

Multimedia Games (MGAM)

Scientific Games (SGMS)

Shuffle Master (SHFL)

Konami Gaming (KNM)

Ainsworth Game Technology (AGI.AU)

Spielo International (LTO.MI)

TransAct Technologies (TACT)

American Gaming Systems (AGS) (Private)

Video Gaming Technologies (VGT) (Private)

Aruze Gaming America (Private)

Leap Forward Gaming (Private)

FutureLogic (Private)

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EILERS – FANTINI Slot Survey – 1Q13 April 22, 2013

©2013 Eilers Research, LLC of 37

Table of Contents

1. Summary Results .................................................................................................................................................. 3

2. Participant Summary ............................................................................................................................................ 4

3. Key Participation Trends ....................................................................................................................................... 4

4. Product Type Mix .................................................................................................................................................. 5

5. Casino Owned vs. Leased ...................................................................................................................................... 6

6. Supplier Floor (“Static”) Share .............................................................................................................................. 7

7. Total Game Sales for 1Q13 ................................................................................................................................. 11

8. Ship Share by Supplier for 1Q13 ......................................................................................................................... 12

9. Increase (Decrease) in Leased Units ................................................................................................................... 20

10. Top Performing Games ................................................................................................................................... 22

11. Most Anticipated Premium Games ................................................................................................................. 25

12. Future New Openings & Expansions ............................................................................................................... 26

13. Expected Replacement Rate ........................................................................................................................... 26

14. Expected Replacement Ship Share ................................................................................................................. 27

15. System & Technology Spending ...................................................................................................................... 30

16. Historical Accuracy .......................................................................................................................................... 36

17. Contact Information ....................................................................................................................................... 37



1. Summary Results

The EILERS-FANTINI survey is designed to track slot machine and related technology purchasing trends on a quarterly basis

and is the gaming industry’s largest slot survey in terms of total casinos and slot machines surveyed. This quarter’s

report represents our 14th

proprietary slot survey and includes record level responses from key purchasing agents at a number

of North American commercial and Tribal casinos, several Racino/VLT operators, as well as seven international participants. In

total, our 77 survey participants collectively operate 265 gaming venues with ~273,000 total slot machines or equivalent gaming

devices. Our 70 North America participants operate 207 casinos and ~255,000 slot machines, representing ~26.1% of the total

install base of machines in North America.

Key summary findings:

IGT: Strong VLT & Corporate sales offset Premium Lease removals. Survey participants purchased a weighted

average of 39% of their games from IGT in the qtr and a non-weighted average of 24% and expect to allocate a weighted

avg share of 38% and 27% non-weighted in CY13. We note there is a large difference between weighted and non-weighed

share this qtr and actual results are likely to fall in between the two figures. As for leased games, survey participants

removed -81 (net) leased games in 1Q CY13 while IGT’s share of top performing leased games remained stable at 44%.

WMS: Improved Game Sales, Premium Leased Performance, & Multiple highly anticipated games. Survey

participants purchased a weighted avg. 15% of their games from WMS during the qtr and a non-weighted avg. of 14% and

expected to purchase a weighted avg. 12% and non-weighted avg. of 17% of purchases to WMS in CY13. Participants also

added +49 (net) leased games in the qtr while competitors lost units. Furthermore, WMS’s share of top performing games

improved meaningfully for the third qtr in a row from 17% to 19% indicating a positive response to new leased products with

two highly anticipated games set to launch.

Bally: Systems leader, NASCAR highly anticipated. Survey participants purchased a weighted avg. of10% of their

games from Bally in the qtr and a non-weighted average of 17% and expect to allocate a weighted avg. of 10% of

purchases to Bally in CY13 and a non-weighted average of 16%. Similar to IGT, there was a large difference between

weighted and non-weighted results and we believe actual ship share will likely fall in between the two figures. Bally also

saw -23 (net) leased game removals while its share of top performing games declined q/q from 18% to 16%. However,

Bally increased its share of most anticipated premium leased games to 38% with the pending launch of its NASCAR WAP.

Konami: Modest Game Sales Improvement ex Canada VLT markets. Survey participants purchased a weighted avg.

7% of their games from Konami during the qtr and a non-weighted avg. of 9% and expect to allocate a weighted avg. of 6%

of purchases to Konami in CY13 and a non-weighted avg. of 8%. Excluding Canada VLTs, weighted ship share was 14%

and non-weighted ship share was 10% in 1Q13 and is expected to be 14% (9% non-weighted) in CY13. We note Konami is

the only Big 5 supplier that is not participating in the Canadian VLT market, and therefore, we believe ship share (ex

Canada VLTs) is the more appropriate metric for assessing performance in existing markets.

Aristocrat: Game sales light while Premium Leased units expand & performance ranking improves. Survey

participants purchased a weighted avg. 7% and non-weighted avg. of 11% of their games from Aristocrat during the qtr and

expect to allocate a weighted avg. of 5% and non-weighted avg. of 10% in CY13. However, Aristocrat led the way with +66

(net) leased games added across our survey participants in 1Q13. Furthermore, Aristocrat’s share of top performing

premium leased games increased from 7% to 9% in the qtr.

Multimedia, Spielo gain ground. Multimedia and Spielo led the way for the Non-Big 5 suppliers this qtr across our survey

participants. Participants purchased a non-weighted avg. of 9% of Multimedia games this qtr and expect to purchase 7%

for CY13, which is well above the company’s trailing TTM avg. Spielo also received a non-weighted avg. of 7% in the qtr

and a weighted avg. of 16% which includes Canadian VLT sales as the company has a very strong market share position in

all provinces replacing games. Both Aruze and Ainsworth also continue to make gains as well with our survey participants.

Top performing leased titles. IGT’s Wheel of Fortune remained the top performing game in this qtr’s survey while Bally’s

Michael Jackson and WMS’s Lord of the Rings tied for second.

Replacement demand continues to improve. Our 68 N. America survey participants including Canadian VLT operators

expect to replace 11.0% of the casino owned games on their floors in CY13, which is slightly ahead of our 10.0%

replacement forecast. Survey results also imply healthy replacement activity in 1Q of CY13.

Interest in “Picture-in-Picture” (PiP) & printer-based “Target Couponing” technology. Roughly 29% of participants

plan to install “Picture-in-Picture” (PiP) system technology over the next 12 months and roughly 13% of participants plan to

install printer-based “targeted promotional couponing” technology.



2. Participant Summary

Questions 1-3 - Contact information, Operator Classification, & Total casinos & slots under management.

In the blow table and pie chart we provide a summary level view of this quarter’s survey participants below broken down

between North America and International casino operators, U.S. tribal vs. commercial, and whether or not the response was

from an individual casino or from a larger corporate multi-property operator.

Note: Route Operators are counted as a single property

Source: EILERS-FANTINI Quarterly Slot Survey Source: EILERS-FANTINI Quarterly Slot Survey

3. Key Participation Trends




Classification Responses Properties Slots

U.S. and Canada participants

Commercial - Multi-property 9 82 103,325

Commercial - Individual 28 28 34,055

Tribal - Multi-property 3 22 15,522

Tribal - Individual 14 14 24,592

Racino 7 8 14,148

Government (VLT) 5 5 36,100

Government (Class III) 2 46 25,630

Other (Casino Mgt Company, Route Operator) 2 2 1,587

U.S. & Canada Total 70 207 254,959

Avg. size of casino (ex VLT retail locations) 1,086

Est N. America Install base as of Dec 31, 2012 975,000

% of N. America install base 26.1%

International participants (4 Asia, 1 Europe, 1 S. Africa, 1 Caribbean)

Commercial - Multi-property 5 56 16,674

Commercial - Individual 2 2 1,678

Total International 7 58 18,352

Avg size of casino 316

Total worldwide 77 265 273,311

Commercial - Multi-property

40%

Commercial -Individual

13%

TribalMulti-property

6%

Tribal - Individual 10%

Racino6%

Government (VLT)14%

Government10%

Participation Summary - N. America

16 23 20 20

41 48

52 53 54 56

6872 73

77

0

20

40

60

80

100

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Survey Participants

65 73 69 68

139 157

204 196

248

203222

244 245265

0

50

100

150

200

250

300

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Number of Casinos

273,311

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Number of Slot Machines

26.1%

0%

5%

10%

15%

20%

25%

30%

35%

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

% of Total N. America Market

254,959

0

50,000

100,000

150,000

200,000

250,000

300,000

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Number of Slot Machines - N. America

18,352

0

5,000

10,000

15,000

20,000

25,000

30,000

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Number of Slot Machines - International



4. Product Type Mix

Question 4 - Of the total number of slot machines installed as of March 31, 2012, please indicate how many

games are considered mechanical reel, video slot, video poker, and/or electronic table game terminals?

Below we highlight the product mix for both North America participants and International participants. The mix of Mechanical

reel products in N. America continues to decline now representing only 26% of the total floor. Conversely, Video slot machines

continue to increase and now represent well over half of the casino floor at 62% while Video poker games have remained

relatively stable at 11% of the floor. We also note that e-Tables represent only 1% of the electronic gaming devices in N.

America now while we look for growth in this category going forward. In International casinos, video slots dominate the product

type at 71% while mechanical reels only represent 19% of the floor. As for other products, e-Tables represent 8% of the floor

and video poker is only at 2% of the floor.


Below we show the trend in product mix across survey participants starting with our 1Q CY11 survey through our 1Q13 survey.


Mech Reel26%

Video Slot62%

Video Poker 11%

E-table1%

Product Type Mix - N. America

Mech Reel19%

Video Slot71%

Video Poker2%

E-table8%

Other1%

Product Type Mix - International

0%

10%

20%

30%

40%

50%

60%

70%

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Product Mix - N. America

Mech Reel

Video Slot

Video Poker

eTable

Other

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Product Mix - International

Mech Reel

Video Slot

Video Poker

eTable

Other



5. Casino Owned vs. Leased

Question 5 - 6 - What percentage of the games on your casino floor are owned vs. leased?

In aggregate, our North America participants owned 88.9% of the games on their casino floor vs. 86.0% last qtr and leased

11.1% of the games vs. 14.0% last qtr. We note the percentage of casino owned games as a percentage of the casino floor has

increased each qtr starting with our 2Q12 survey.

Excluding Racino/VLT and Tribal Class II casinos with 100% leased games, the remaining N. America survey participants

owned 94.6% of the games on their casino floor vs. 94.0% last qtr and leased only 5.4% of the games vs. 6.0% last qtr, which

also reflects the same trend towards more casino owned games. Finally, our 7 international participants owned 86.7% of the

games installed in their casinos vs. 85% last qtr while leasing 13.1% of games vs. 15.0% last qtr reflecting the same trend

towards more casino owned product.

We highlight the mix between casino owned and leased games in the charts below and we also provide results excluding

Racino and Tribal Class II properties with 100% leased games. We note leased games include premium daily fee, Wide-Area

Progressive (WAP), Local Area Progressive (LAP), and VLT/Class II leases.



Owned88.9%

Leased11.1%

Product Mix - N. America

Owned94.6%

Leased5.4%

Product Mix - N. America (Ex 100% leased Venues)

75%

80%

85%

90%

95%

100%

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Casino Owned Product - N. America

All Casinos Excl 100% leased Casinos

75%

80%

85%

90%

95%

100%

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Casino Owned Product - International



6. Supplier Floor (“Static”) Share

Question 5 - 6 – Please indicate the number of CASINO-OWNED games and LEASED games installed by supplier as of

March 31, 2012?

Note: Casino owned games were previously sold by a supplier and are now owned by the casino. Leased games include

participation games, WAP, LAP, Daily Fee, and VLT/Class II leased games.

North America participants


North America participants – Quarterly Trends


N. America Tribal participants only


46%

14%16%

14%

7%

1% 1% 0% 0% 1% 0% 0% 0% 0% 0% 1%

0%

10%

20%

30%

40%

50%

60%

Existing Static Market Share - Casino Owned Games

36%

7%

14%16%

3% 2% 1% 1% 0% 1%3%

13%

0% 0% 1% 2%

0%

10%

20%

30%

40%

50%

60%

Existing Static Market Share - Leased Games

0%

10%

20%

30%

40%

50%

60%

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Static Market Share for Casino Owned Games

IGT

ALL

WMS

BYI

KNM

MGAM

0%

10%

20%

30%

40%

50%

60%

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Static Market Share for Leased Games

IGT

ALL

WMS

BYI

KNM

MGAM

42%

16%

12%15%

8%

1% 2% 1% 1% 1% 0% 0% 0% 0% 0% 1%

0%

10%

20%

30%

40%

50%

60%


27%

6%

11%9%

4%1% 2% 1% 0% 0%

4%

32%

0% 1% 0% 1%

0%

10%

20%

30%

40%

50%

60%




International Participants only


Nevada Casinos only - 31 casinos


Eastern Region U.S. Casinos (DE, FL, ME, NJ, NY, & PA) – 14 casinos


17%

34%

10%

5%1%

4%0%

14%

0% 0% 0% 0% 0% 0% 0%

15%

0%

10%

20%

30%

40%

50%

60%


69%

6%9%

6%1% 0% 0% 1% 1% 0% 0% 0% 0% 0%

5% 3%

0%

20%

40%

60%

80%


63%

12% 12%7%

4%0% 0% 1% 0% 1% 0% 0% 0% 0% 0% 0%

0%

20%

40%

60%

80%


45%

9%

16%14%

2%4%

0%

5%

0% 1% 0% 0% 0% 0% 0% 1%

0%

10%

20%

30%

40%

50%

60%


39%

13%15%

21%

8%

1% 0% 0% 1% 1% 0% 0% 0% 0% 1% 0%0%

10%

20%

30%

40%

50%

60%


43%

10% 11%

27%

2%4%

0% 0% 0% 2% 0% 0% 0% 0% 0% 1%

0%

10%

20%

30%

40%

50%

60%




Central Region U.S. Casinos (IA, IL, IN, KS, MN, MO, & OH) – 24 casinos


Western Region U.S. Casinos Ex Nevada (AZ, CA, CO, OR, & WA) – 24 casinos


Southern Casinos (LA, MS, OK, & TX) – 34 casinos


43%

18% 16%

11% 10%

0% 1% 0% 0% 0% 0% 0% 0% 0% 0% 0%0%

10%

20%

30%

40%

50%

60%


37%

13%

20%

15%

2% 2% 2% 2% 0% 1% 0% 0% 0% 0%3% 4%

0%

10%

20%

30%

40%

50%

60%


44%

19%

11% 12%

7%

1% 2% 1% 0% 1% 0% 0% 0% 0% 0% 1%

0%

10%

20%

30%

40%

50%

60%


42%

13%11%

16%

3% 4% 4% 2% 0% 1% 0% 0% 0%3% 1% 2%

0%

10%

20%

30%

40%

50%

60%


45%

17% 15%11%

8%

0% 1% 0% 1% 0% 0% 0% 0% 0% 0% 0%0%

10%

20%

30%

40%

50%

60%


26%

5%

11%8%

4%0% 2% 1% 0% 0%

5%

35%

0% 1% 0% 1%

0%

10%

20%

30%

40%

50%

60%




California Casinos – 5 Casinos (4 Southern Cal, 1 Northern Cal)


Canadian Casinos (Slots Only) – 48 Casinos


Canadian VLTs – 5,328 Retailers

Source: EILERS-FANTINI Quarterly Slot Survey

39%

19%

11%13%

9%

1% 2% 1% 1% 1% 0% 0% 0% 0% 0% 2%

0%

10%

20%

30%

40%

50%

60%


41%

12% 12%

17%

3% 3% 3% 3%0%

2% 0% 0% 0% 0% 1% 3%

0%

10%

20%

30%

40%

50%

60%


27%

14%

22% 21%

14%

1% 0% 0% 0% 1% 0% 0% 0% 0% 0% 0%0%

10%

20%

30%

40%

50%

60%


38%

6%

17%20%

4%0% 0% 0% 0% 2% 0% 0% 0% 0%

8%4%

0%

10%

20%

30%

40%

50%

60%


45%

4%

22%

0% 0%

29%

0% 0% 0% 0% 0% 0% 0% 0% 0% 0%0%

10%

20%

30%

40%

50%

60%




7. Total Game Sales for 1Q13

Questions 7-9 - How many replacement slot machines and new & expansionary slot machines did you PURCHASE by

supplier in 1Q CY13? How many conversion kits did your purchase by supplier in 1Q CY13?

Our North America survey participants purchased and took delivery of 15,858 slot machines in 1Q CY13 including 3,615 new &

expansionary units and 12,243 replacement units while also purchasing 4,620 conversion kits in the quarter. Similar to last qtr’s

survey, this qtr’s survey included a larger than normal amount of Canadian VLT replacement sales representing roughly 47% of

the total games purchased by our survey participants. In reality, we anticipate Canadian VLTs to represent ~30-35% of N.

America games sales in 1Q13. Therefore, in our analysis we provide market share statistics both including and excluding

Canadian VLT placements.

In addition, we also provide a weighted average ship share which reflects the size of the survey participant and a non-weighted

average ship share which normalizes the individual responses and counts each participant equal. We also highlight our survey

results as a useful predictor of actual replacement sales. Based on this quarter’s survey results and using a +10-+20% bias

range, we estimate actual N. America replacement sales are likely to fall between ~20,500 and 23,000 games in the 1Q CY13.

We note our industry forecast calls for ~20,500 games implying some modest upside if our survey is accurate.

We highlight our survey’s historical replacement sales vs. actual replacement sales and the trailing avg. deviation


-20%

0%

20%

40%

60%

80%

100%

120%

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec '12

Survey Bias - Replacements

% deviation Trailing avg deviation

0

5,000

10,000

15,000

20,000

25,000

30,000

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec '12

Implied Replacement Sales vs. Actual

Implied Repl Sales Actual Repl Sales



8. Ship Share by Supplier for 1Q13

Questions 7-9 - How many replacement slot machines and new & expansionary slot machines did you PURCHASE by

supplier in 1Q CY13? How many conversion kits did your purchase by supplier in 1Q CY13?

Among our survey participants, IGT posted the highest ship share in 1Q CY13 achieving a weighted average share of 39% and

a non-weighted share of 24% of game sales in the qtr. We note there is a large difference between the weighted average and

the non-weighted average ship share this qtr for IGT as a couple large corporate buyers purchased a much greater percentage

of IGT games relative to individual casino participants. We believe the company’s actual ship share will likely fall somewhere in

between the two figures. Although IGT’s weighted avg. survey ship share was -7% pts below its existing footprint of previously

sold games, we note it was +3% pts greater than its trailing twelve month (ttm) avg ship share. As we have highlighted before,

IGT continues to benefit from a large pickup in Canadian VLT replacement purchases with healthy placements in Quebec,

Alberta, Saskatchewan, Manitoba, and the Atlantic Lottery. Excluding Canadian VLT replacements, IGT’s weighted avg ship

share was 37% and its non-weighted share was 22% among our survey participants.

WMS obtained the next highest ship share of the Big 5 suppliers across our survey participants in 1Q CY13 achieving a

weighted avg ship share of 15% and a non-weighted avg. share of 14% of game sales in the qtr. Although its weighted ship

share was -1% pt below its existing footprint of previously sold games and its TTM ship share, we note it was much better than

the company’s actual ship share in the previous two quarters which was 10% and 13%, respectively. Excluding Canadian VLT

replacements, results were even better as WMS achieved a weighted average ship share of 17% and a non-weighted share of

15% in the qtr. We note WMS also benefited from a couple large corporate buyers purchasing a larger percentage of WMS

games this qtr vs. individual casino participants which was similar to IGT although to a much lesser extent. Regardless, it looks

like WMS likely hit bottom in 2H12 in terms of ship share and the data indicates the company is making modest improvement in

games sales likely boosted by its new Blade cabinet.

Bally came in just behind WMS in our 1Q CY13 survey achieving a weighted average ship share of 10% and a non-weighted

share of 17% for game sales in the qtr. Bally also had a large deviation between its weighted avg ship share and its non-

weighted share this qtr as we saw the reverse effect of a couple large corporate buyers purchasing a lower than normal amount

of Bally games this qtr vs. the vast majority of survey participants which are individual casinos. Again, we believe the company’s

actual 1Q13 results will likely fall somewhere in between which would place it roughly in-line with its static and TTM average.

Excluding Canadian VLT replacement activity, Bally did better achieving a 12% weighted average ship share and a non-

weighted share of 18% in the qtr. We note Bally remains a solid competitor with its improved video slot content for its Alpha 2

V32 and Pro Curve platforms.

Konami came in behind Bally and achieved a 7.5% weighted average ship share and a 9% non-weighted share in our 1Q

survey, which was -3% pts below its TTM ship share. However, results look much better when you factor out Canadian VLTs.

We note Konami is the only Big 5 supplier that is not participating in the Canadian VLT market. Therefore, the company’s

overall market share statistics are likely to be the most negatively impacted when including Canadian VLTs. Excluding

Canadian VLTs, Konami achieved a 14% weighted average ship share and a 10% non-weighted share in the qtr. Similar to IGT

and WMS, Konami benefited from some large corporate multi-property buyers in the qtr. We also note that the March qtr is the

Konami’s fiscal year end so the company tends to put up a strong sales qtr for the U.S. market which seems to be the case once

again this qtr.

Aristocrat came in just behind Konami in our 1Q CY13 survey achieving a weighted average share of 7.0% and a non-weighted

share of 11% in the qtr. We note the weighted share was -3% pts below the company’s TTM avg while the non-weighted share

was +1% pts above its TTM average. Similar to Konami, Aristocrat has a very small percentage of the Canadian VLTs

replacements and therefore its overall ship share will be somewhat depressed until the Canadian VLT cycle runs its course.

Excluding Canadian VLTs, Aristocrat’s weighted average ship share was 11% and its non-weighted share was 12% in this qtr’s

survey which is roughly in-line with its static and TTM average ship.

For the third qtr in a row Spielo International was the largest of the non-Big 5 suppliers achieving 16% weighted average ship

share (7% non-weighted) in our 1Q survey, which was +15% pts above its static share and +9% above its TTM share. The

strong performance this quarter was the result of significant Canadian VLT placements (~2,370). Excluding these Canadian

VLT placements, Spielo achieved 3% ship share (4% non-weighted) with our 1Q participants, which was also slightly ahead of

its static and TTM share as the company is also beginning to gain some traction in the traditional U.S. casino market.



We also highlight that Multimedia Games achieved a 1% weighted average ship share while we note its non-weighted ship

share was 9% in the qtr. Similar to Konami, Multimedia also has no exposure to the Canadian VLT market leaving its overall

market share somewhat depressed. Excluding Canadian VLTs, we note Multimedia’s weighted ship share was 2% and its non-

weighted avg share was 10% in with our survey participants. Similar to Bally, Multimedia was on the negative end of a couple

large corporate buyers in our survey as the company’s products were not fully licensed in some key markets yet (i.e. Nevada).

However, we look for the company’s ship share to pick up significantly in the coming quarters with products fully approved in

Nevada. Again, as we have highlighted many times the company’s award winning TournEvent product is a meaningful driver of

game sales for the company.

Finally, we note Ainsworth and Aruze both achieved a weighted average ship share of 0.5% in our survey this qtr (non-weighted

1.5%). Excluding Canada VLT units, both suppliers achieved a 1.5% weighted average and non-weighted avg ship share in the

qtr. Ainsworth continues to grab share with its high volatility, low denom video slots while Aruze continues to make headway

with its mechanical reel and e-table products.

Below we provide a summary of the weighted and non-weighted average ship share by supplier for total sold games sold to N.

America customers in our 1Q CY13 survey. As we mentioned above, this quarter’s survey results resulted in a larger than

normal deviation between the weighted and non-weighted average ship share data due to a small number of large multi-property

corporate buyers allocating game purchases much differently than the majority of individual casino participants. We note our

survey is more biased to the large corporate buyers than the overall market. As such, we believe actual results for the quarter

will likely fall somewhere in between the two figures.


Below we provide a summary of the weighted and un-weighted ship share by supplier for total sold games sold to N. America

customers in our 1Q CY13 survey excluding Canada VLTs. We believe the adjusted numbers more accurately reflect the

underlying market share trends in the U.S. casino market.


39%

7%

15%

10%7%

16%

1% 1% 0% 1% 1% 0% 0% 0% 0%2%

0%

10%

20%

30%

40%

50%

1Q CY13 Survey - Weighted Avg Ship Share

24%

11%14%

17%

9%7%

9%

2%0%

2%0% 0% 0% 0% 0%

5%

0%

10%

20%

30%

40%

50%

1Q CY13 Survey - Non Weighted Avg Ship Share

37%

11%

17%

12%14%

3% 2% 1% 0% 1% 2%0% 0% 0% 0% 0%

0%

10%

20%

30%

40%

50%

60%

1Q CY13 Survey - Weighted Avg Ship Share (Ex Canada VLTs)

22%

12%15%

18%

10%

4%

10%

2%0%

2%0% 0% 0% 0% 0%

5%

0%

10%

20%

30%

40%

50%

1Q CY13 Survey - Non-Weighted Avg Ship Share (Ex Canada VLTs)



Below we highlight the weighted and non-weighted relative gain / loss on a percentage point basis compared with the

company’s overall trailing twelve month (ttm) ship share.


Below we highlight the weighted & non-weighted relative gain / loss on a percentage point basis compared with the company’s

overall trailing twelve month (ttm) ship share after excluding Canada VLTs from both the survey and our TTM ship share.


Big 5 vs. Non-Big 5 Suppliers

One of the most consistent themes we hear from our casino operator contacts is that smaller (non-Big 5) suppliers are getting a

large share of replacements. We note this is reflective in our quarterly surveys as well. Below we highlight our quarterly survey

ship share grouped into Big 5 share including and excluding Canada VLTs. We note that our 1Q13 Big 5 share includes the

average of the weighted and non-weighted ship share given the large deviation between the two metrics this qtr.


3%

-3%-1%

-6%-3%

9%

-2% 0%

0%

0%

1% 0% 0% 0% 0%2%

-20%

-10%

0%

10%

20%

1Q CY13 Weighted Ship Share - Gain/Loss on Sold Units Compared w/ TTM ship share

-12%

1%

-2%

1%

-1% 0%

6%

1% 0% 1% 0% 0% 0% 0% 0%

5%

-20%

-10%

0%

10%

20%

1Q CY13 Non-Weighted Ship Share - Gain/Loss on Sold Units Compared w/ TTM ship share

3%

0% 0%

-6%

1% 2%

-1% 0%

0%

0%

2%0% 0% 0% 0%

-1%

-20%

-10%

0%

10%

20%

1Q CY13 Weighted Ship Share - Gain/Loss on Sold Units Compared w/ TTM ship share - Ex Canada VLTs

-12%

1%

-2%

0%

-3%

3%

7%

0% 0% 1% 0% 0% 0% 0% 0%

4%

-20%

-10%

0%

10%

20%

1Q CY13 Non-Weighted Ship Share - Gain/Loss on Sold Units Compared w/ TTM ship share - Ex Canada VLTs

50%

60%

70%

80%

90%

100%

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Ship Share Sold - Big 5 Share

Canada Repl VLT Cycle begins

50%

60%

70%

80%

90%

100%

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Ship Share Sold - Big 5 Share (Ex Canada VLTs)



Replacement Sales

Below we highlight both weighted and non-weighted average “Replacement Sales” ship share across our N. American survey

participants in 1Q CY13.


Below we highlight both weighted and non-weighted average “Replacement Sales” ship share across our N. American survey

participants in 1Q CY13 excluding Canada VLTs.


New Openings & Expansion Sales

Below we highlight New Casino Opening & Expansionary Sales across our N. American survey participants in 1Q CY13. We

only provide a weighted ship share as we believe we have captured the majority of new openings in the quarter.


40%

6%

15%

7% 8%

20%

1% 1% 0% 0% 0% 0% 0% 0% 0%2%

0%

10%

20%

30%

40%

50%

60%

1Q CY13 Weighted Avg Ship Share - Replacements Only

24%

12%15% 16%

11%8%

6%

2%0%

2%0% 0% 0% 0% 0%

3%

0%

10%

20%

30%

40%

50%

1Q CY13 Non-Weighted Avg Ship Share - Replacements Only

38%

10%

19%

6%

21%

1% 1% 2% 0% 1% 0% 0% 0% 0% 0% 1%

0%

10%

20%

30%

40%

50%

60%

1Q CY13 Weighted Avg Ship Share - Replacements Only (Ex Canada VLTs)

22%

14%16% 17%

13%

4%6%

2%0%

3%0% 0% 0% 0% 0%

3%

0%

10%

20%

30%

40%

50%

1Q CY13 Non-Weighted Avg Ship Share - Replacements (Ex Canada VLTs)

35%

12%14%

20%

5% 4%2%

1% 0% 1%

5%

1% 0% 0% 1% 0%0%

10%

20%

30%

40%

50%

1Q CY13 Weighted Avg Ship Share - New & Expansionary Only



Conversion Kits

Below we highlight the number of Conversion kits purchased in 1Q CY13 by our N. American survey participants and the ship

share by supplier during the quarter.



27%

15%

25%

10%12%

5%1% 1% 0% 1% 0%

4%0% 0% 0% 0%

0%

10%

20%

30%

40%

50%

1Q CY13 Survey - Conv Kit Ship Share

1,247

684

1,164

466545

215

50 41 0 27 0

163

0 2 0 16

0

500

1,000

1,500

2,000

1Q CY13 Survey - Conv Kit Sales

0%

5%

10%

15%

20%

25%

30%

35%

40%

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Ship Share - Conv Kits

IGT

ALL

WMS

BYI

KNM

MGAM

0

200

400

600

800

1,000

1,200

1,400

1,600

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Conv Kit Sales

IGT

ALL

WMS

BYI

KNM

MGAM



Regional Ship Share

Below we highlight N. American ship share by region across our survey participants in 1Q CY13.

Nevada Casinos – 31 Casinos


Eastern Region U.S. Casinos (DE, FL, ME, NJ, NY, PA) – 14 casinos


Central Region U.S. Casinos (IA, IL, IN, KS, MN, MO, & OH) – 24 casinos


5%

25%

39%

8%

17%

4%

0% 0% 0% 0% 0% 0% 0% 0% 0% 1%

0%

10%

20%

30%

40%

50%

1Q13 Ship Share - Total Sales

48

230

354

75

157

36

0 0 0 4 0 0 0 0 0 10

0

50

100

150

200

250

300

350

400

1Q13 Game Sales - Total Sales

22%

6% 5%

22%

10%

3% 4%6%

0%

5%

15%

2%0% 0%

2% 1%

0%

10%

20%

30%

40%

50%


246

6452

248

111

3241

68

0

56

174

200 0

209

0

50

100

150

200

250

300


35%

15%18%

16%

7%

1%3%

1% 0% 1% 0% 0% 0% 0% 0% 1%

0%

10%

20%

30%

40%

50%


481

210250

223

98

1139

190 17 0 0 0 0 0 12

0

100

200

300

400

500

600




Western Region U.S. Casinos Ex Nevada (AZ, CA, CO, NM, OR, & WA) – 24 casinos


Southern Casinos (LA, MS, & OK) – 34 casinos


California Casinos – 5 casinos


41%

9%

15%18%

9%

2% 3%0% 0% 1% 0% 0% 0% 0% 0% 0%

0%

10%

20%

30%

40%

50%


806

178

290355

184

43 536 0 23 0 0 0 0 8 6

0

200

400

600

800

1,000


22%

33%

7%

11%

3%0%

6%

9%

0% 0% 0% 0% 0% 0% 0%

9%

0%

10%

20%

30%

40%

50%


40

60

12

20

6

0

10

17

0 0 0 0 0 0 0

16

0

10

20

30

40

50

60

70


41%

11%

7%9%

21%

2%4%

1% 0%2%

0% 0% 0% 0%2%

0%0%

10%

20%

30%

40%

50%


216

56

3648

112

821

6 012

0 0 0 08

00

50

100

150

200

250




Canadian Casinos (Slots only) – 46 Casinos


Canadian Casinos (VLTs only) – 4,046 retail locations


International – 58 casinos: Game Sales & Conversion Kit Sales


11%

6%

43%

7%

32%

0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%0%

10%

20%

30%

40%

50%


70

40

266

44

196

0 0 0 0 0 0 0 0 0 0 00

50

100

150

200

250

300


40%

0% 0%

12%

0%

40%

0% 0% 0% 0% 0% 0% 0% 0% 0%

7%

0%

10%

20%

30%

40%

50%

4Q CY12 Survey - Ship Share

1,640

0 0

500

0

1,645

0 0 0 0 0 0 0 0 0

300

0

500

1,000

1,500

2,000

4Q CY12 Survey - Game Sales

18%14%

0%

16%

0% 0% 0%

19%

0% 0% 0% 0% 0% 0% 1%

32%

0%

10%

20%

30%

40%

50%

1Q CY13 Ship Share - Total Sales

40

32

0

36

0 0 0

44

0 0 0 0 0 0 2

74

0

10

20

30

40

50

60

70

80

1Q CY13 Ship Share - Total Sales

14%

25%23%

7%

0% 0% 0% 1% 0% 0% 0% 0% 0% 0%2%

29%

0%

10%

20%

30%

40%

50%

1Q CY13 Conv Kit Ship Share

52

9486

28

0 0 0 3 0 0 0 0 0 06

108

0

20

40

60

80

100

120

1Q CY13 - Conv Kit Sales



9. Increase (Decrease) in Leased Units

Question 10 – Please indicate how many (net) games were added to the lease install base in 1Q CY13 by supplier.

With this question we are trying to determine which suppliers are gaining or losing leased units in their recurring revenue install

base. For the purpose of this survey, leased games include WAP, LAP, Daily fee, 80/20 Participation, and VLT/Class II leases.

This quarter our survey participants added +469 (net) recurring revenue games which included +248 net additions from new

casino openings and +490 net additions from two major 100% leased Class II and VLT casino operators offset by -269 game

removals from several traditional casinos.

Below we highlight the (net) increase / decrease in leased units by supplier during the quarter ending on March 31, 2013. Note

the first chart shows the (net) increase / decrease in leased units for both existing casinos, as well as new openings while the

second chart includes only new casino openings.

Note: Includes existing & new casino openings Note: Includes only new casino openings & major expansions


The first chart below highlights the (net) increase / decrease in leased units for existing casinos only and excludes new casino

openings. The second chart to the right shows only existing casinos and also excludes Class II and VLT facilities with 100%

leased product. We believe this is the best gauge for premium installations / removals in the quarter. We note multiple large

corporate multi-property operators removed several premium leased games in the qtr.

Note: Includes only existing casinos


-81

66 49

-23

650

130

22

-8

45

188

-58

0 10 10

63

-300

-200

-100

0

100

200

300

Net Increase / Decrease in Leased Units - 1Q CY13Existing & New Openings

95

30 30 30

15 12 12 120

120 0 0 0 0 0

0

25

50

75

100

125

150

Net Increase / Decrease in Leased Units - 1Q CY13New Casino Openings Only

-176

36 19

-53-9

38

118

10

-8

33

188

-58

0 10 10

63

-300

-200

-100

0

100

200

300

Net Increase / Decrease in Leased Units - 1Q CY13Existing Casinos Only

-249

51

-22

-133

-14

20 11

-7 -8

25 220 0 2 0

33

-350

-250

-150

-50

50

150

250

Net Increase / Decrease in Leased Units - 1Q CY13Existing Casinos Only, Also excludes Class II, VL, & Route Ops



Regional Market Increase (Decrease) in Leased Units

Below we highlight (net) leased games added/removed by region across our survey participants in 1Q CY13. Note, we do not

include corporate multi-site participant responses in this section unless the portfolio of casinos can be grouped into a certain

region. As a result, most of the removals from corporate multi-site operators are not reflected in this section.

Nevada Casinos – 31 casinos Eastern U.S. (DE, FL, ME, NJ, NY, & PA) – 14 casinos

Note: Includes existing & new casino openings Note: Includes existing & new casino openings


Central (IA, IL, IN, KS, MN, MO, & OH) – 24 casinos Western U.S. Ex NV (AZ, CA, CO, NM, OR, WA) – 24 casinos



Southern U.S. (OK, LA, & MS) – 34 casinos California Casinos – 5 casinos



19

42

2014

-1

18

-6 -6

0

19

0 0 0 0 0

-5

-20

-10

0

10

20

30

40

50

60


78

2

15 16

0 2 0

-6

0 0

18

0 0 0 0

15

-20

0

20

40

60

80

100


32

6

24

2

17

84

15

0

10

0 0 0 0 0

6

0

10

20

30

40

50


-22

8 10 9

-2

0

12

0

-8

4 4 0 0 2 04

-30

-20

-10

0

10

20

30


50

-19

5870

17 22

116

26

012

139

-58

0 8 10

49

-100

-50

0

50

100

150

200


-27

0

10

0

-6

0 0 0

-8

4 4 0 0 0 04

-40

-30

-20

-10

0

10

20

30

40




Canadian Casinos (Slots only, no VLTs) – 46 Casinos


10. Top Performing Games

Question 11 – What were your Top 3 performing Premium LEASED games in 1Q CY13 on a Net Win basis?

Once again IGT’s Wheel of Fortune remained the “Top Performing” premium leased game among our N. America and

International participants in 1Q CY13 receiving 33% of the participant responses (21 of 63 responses) vs. 32% last qtr and 26%

the prior qtr. Bally’s Michael Jackson remained strong and tied for 2nd

place with WMS’s Lord of the Rings with each receiving

8% of responses (5 out of 63). We note four games tied for 3rd

place including IGT’s Megabucks, Bally’s Jumbo Series,

Aristocrat’s Tarzan, and WMS’s Wizard of Oz franchise. We highlight the breakdown of Number 1 votes by supplier below:


-14

1

-6

-24

-16

0 0 0 0 0 0 0 0 0 0 0

-40

-30

-20

-10

0

10

20

30

40


Number 1 Game Votes

Supplier / Game 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13

IGT / Wheel of Fortune 5 6 3 7 11 12 13 10 12 11 15 20 21

Bally / Michael Jackson 0 0 0 0 0 0 0 0 0 0 6 4 5

WMS / Lord of the Rings 0 0 0 2 0 1 0 0 0 0 3 2 5

IGT / Megabucks 0 0 0 1 2 2 1 3 2 0 1 4 3

Bally / Jumbo Series 0 0 0 0 0 0 0 1 5 3 2 3 3

Aristocrat / Tarzan 0 0 0 0 1 3 2 1 2 4 2 1 3

WMS / Wizard of Oz 3 1 2 3 5 1 2 0 1 1 1 1 3

Aristocrat / Cash Express 0 0 0 0 0 1 1 1 0 0 0 0 2

Multimedia / One Red Cent 0 0 0 0 0 0 0 0 0 0 2 2 1

IGT / Sex and the City 4 5 5 12 6 4 7 4 5 5 1 1 1

COLOSSAL / BIG THUNDER 0 0 0 0 0 0 0 1 1 1 1 1 1

IGT / Star Wars 0 0 0 0 0 1 0 1 1 1 1 1 1

Bally / Million Degrees 0 0 0 0 0 0 0 0 1 1 0 1 1

IGT / Wheel of Gold 0 0 0 0 0 0 0 0 0 0 0 1 1

WMS / Monopoly 0 0 0 1 0 0 1 0 0 3 1 0 1

Bally / Hot Shot 0 0 0 0 0 0 1 0 0 1 1 0 1

WMS / Jackpot Station 0 0 0 0 0 0 0 0 0 0 0 0 1

WMS / Leprechaun's Gold 0 0 0 0 0 0 0 0 0 0 0 0 1

Bally / Betty Boop 0 0 0 0 0 0 0 0 0 0 0 0 1

Aruze / Gold 0 0 0 0 0 0 0 0 0 0 0 0 1

Multimedia Games / Jackpot Factory 0 0 0 0 0 0 0 0 0 0 0 0 1

IGT / Shinobi 0 0 0 0 0 0 0 0 0 0 0 0 1

IGT / Triple Play Poker 0 0 0 0 1 0 0 0 1 0 1 0 1

IGT / Fort Knox 0 0 0 0 0 0 0 1 0 1 0 0 1

IGT / Hangover 0 0 0 0 0 1 0 0 0 1 0 0 1

Bally / Vegas Hits 0 0 0 0 0 0 1 1 1 0 0 0 1

WMS / Life of Luxury 0 0 0 0 0 0 0 0 0 0 1 2 0

Bally / Lightning Jackpots 0 0 0 0 0 0 0 0 0 1 1 2 0

Bally / Money Wheel 0 0 0 0 0 0 0 0 0 0 0 1 0

Bally / Sun God 0 0 0 0 0 0 0 0 0 0 0 1 0

Konami / African Diamond 0 0 0 0 0 0 0 0 0 0 0 1 0

Aristocrat / Loco Loot 0 0 0 1 0 0 0 1 0 1 0 1 0

Aristocrat / Superman 0 0 0 0 0 0 0 0 0 0 0 1 0

Aruze / Crystal Slots 0 0 0 0 0 0 0 0 0 0 0 1 0

Aruze / Paradise Fishing 0 0 0 0 0 0 0 0 0 0 0 1 0

IGT / Ultimate X Poker 0 0 0 0 0 0 0 0 0 1 0 1 0

VGT / Pieces of Eight 0 0 0 0 0 0 0 0 0 0 0 1 0

IGT / American Idol 0 0 0 0 0 2 0 0 0 0 0 1 0

Bally / Cash Wheel 0 0 0 0 0 0 0 0 0 2 1 1 0

Rocket / Gold Series 1 1 1 1 1 2 2 1 2 0 1 1 0

Bally / Monte Carlo 0 0 1 0 0 2 0 1 2 0 1 1 0

IGT / Spin Poker 0 0 0 0 0 1 2 2 0 0 1 1 0

IGT / Red Hot Jackpots 0 0 0 0 0 0 0 0 0 0 1 1 0

IGT / All Star Poker 0 0 0 0 0 0 0 1 0 0 1 1 0

VGT / Mr. Money Bags 0 0 0 0 0 0 0 0 0 0 1 1 0

Total Votes 14 13 15 33 36 41 43 43 48 51 58 63 63



We also provide a ranking by supplier based on the total number of Top 1-3 votes for all games. We believe this reflects which

suppliers have the best overall premium leased portfolio. IGT remained in 1st place this qtr. receiving the most Top 1-3 votes as

Wheel of Fortune remains the industry’s top earning game while the company’s Megabucks and Sex and The City games also

performed well although we note Sex and The City seems to have lost a few Top game votes over the last couple of quarters

(see previous table). However, we also note this was the first time IGT’s share of Top 1-3 games increased q/q since 4Q11 with

most of the q/q gains coming from its WOF franchise.

WMS posted the biggest gain in the qtr moving past Bally into the 2nd

position as its share of top performing games increased

from 17% to 19% with our survey participants led by strong Wizard of Oz, Lord of the Rings, and Monopoly game performance.

We note several of the games listed above were on the company’s new Gamefield XD cabinet which seems to have boosted

results. Bally came in 3rd

receiving 16% of Top 1-3 votes, which was down from 18% the last two quarters. Bally’s Michael

Jackson game continues to perform well while Betty Boop posted strong gains on the company’s new WAP link. Although Bally

dropped a bit q/q we look for a rebound next quarter with the introduction of its high profile NASCAR WAP.

Aristocrat also had a strong qtr receiving 9% of the Top 1-3 votes vs. 7% last qtr. The company’s Tarzan branded games and

Cash Express remain strong although we note newly introduced Superman dropped off the board. Finally, smaller players like

Spielo, Multimedia Games, and Aruze obtained 2-3% of the Top 1-3 votes this qtr. Below we provide a summary table of

participant voting for the Top 1-3 premium leased games on a quarterly basis through 1Q CY13 aggregated by supplier.


Supplier Top 1-3 Ranking


IGT 24 22 20 45 55 57 62 64 69 70 74 81 82

% of total votes 44% 46% 44% 46% 51% 48% 48% 56% 54% 46% 44% 43% 44%

WMS 9 8 7 17 17 17 12 11 15 15 27 32 36

% of total votes 17% 17% 16% 17% 16% 14% 9% 10% 12% 10% 16% 17% 19%

Bally 15 12 10 21 19 27 25 14 20 25 31 33 30

% of total votes 28% 25% 22% 21% 18% 23% 19% 12% 16% 17% 18% 18% 16%

Aristocrat 3 2 2 4 4 7 9 13 9 21 15 14 16

% of total votes 6% 4% 4% 4% 4% 6% 7% 11% 7% 14% 9% 7% 9%

Spielo / Atronic 1 2 1 0 3 0 3 5 7 7 2 3 5

% of total votes 2% 4% 2% 0% 3% 0% 2% 4% 5% 5% 1% 2% 3%

Multimedia Games 0 0 0 0 1 0 1 0 1 3 8 4 4

% of total votes 0% 0% 0% 0% 1% 0% 1% 0% 1% 2% 5% 2% 2%

Aruze 0 0 0 0 0 0 0 0 1 1 1 2 4

% of total votes 0% 0% 0% 0% 0% 0% 0% 0% 1% 1% 1% 1% 2%

Konami 1 1 4 4 3 5 10 2 0 3 5 6 2

% of total votes 2% 2% 9% 4% 3% 4% 8% 2% 0% 2% 3% 3% 1%

Colossal 0 0 0 1 1 2 0 1 1 1 1 1 2

% of total votes 0% 0% 0% 1% 1% 2% 0% 1% 1% 1% 1% 1% 1%

Rocket Games 1 1 1 4 3 4 6 2 4 1 1 2 1

% of total votes 2% 2% 2% 4% 3% 3% 5% 2% 3% 1% 1% 1% 1%

AGS 0 0 0 0 0 0 1 0 0 1 0 2 1

% of total votes 0% 0% 0% 0% 0% 0% 1% 0% 0% 1% 0% 1% 1%

Lighting Gaming 0 0 0 0 0 0 0 0 0 0 0 1 1

% of total votes 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 1% 1%

Ainsw orth 0 0 0 0 0 0 0 0 0 0 0 0 1

% of total votes 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 1%

VGT 0 0 0 0 0 0 0 0 0 3 3 6 0

% of total votes 0% 0% 0% 0% 0% 0% 0% 0% 0% 2% 2% 3% 0%

Shuffle Master 0 0 0 1 1 0 0 0 1 0 0 0 0

% of total votes 0% 0% 0% 1% 1% 0% 0% 0% 1% 0% 0% 0% 0%

AlfaStreet 0 0 0 0 0 0 0 1 0 0 0 0 0

% of total votes 0% 0% 0% 0% 0% 0% 0% 1% 0% 0% 0% 0% 0%

AC Slots 0 0 0 1 0 0 0 1 0 0 1 0 0

% of total votes 0% 0% 0% 1% 0% 0% 0% 1% 0% 0% 1% 0% 0%

Total votes 54 48 45 98 107 119 129 114 128 151 169 187 185

0%

10%

20%

30%

40%

50%

60%

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Top 1-3 Leased Games by Qtr

IGT

Bally

WMS

Aristocrat

Konami

Spielo

Multimedia



Finally, we provide a complete breakdown of the Top 1-3 voting by supplier and game title for the quarter.


Top 1-3 Ranking


IGT / Wheel of Fortune 14 9 6 15 25 22 26 29 27 27 37 38 42

WMS / Wizard of Oz 8 7 7 12 12 13 10 7 13 8 9 13 13

IGT / Megabucks 0 0 0 2 6 4 2 4 3 3 6 10 10

WMS / Monopoly 0 0 0 1 2 1 1 1 0 5 3 3 10

Bally Michael Jackson 0 0 0 0 0 0 0 0 0 0 10 8 9

Aristocrat / Tarzan 0 0 0 0 1 4 5 7 6 10 7 8 8

IGT / Sex and the City 6 10 10 18 12 13 12 6 15 13 6 10 6

WMS / Lord of the Rings 0 0 0 4 3 1 0 0 0 0 5 6 6

Bally / Betty Boop 0 0 0 0 0 0 3 2 0 0 0 2 5

Bally / Jumbo Series 0 0 1 1 0 4 3 1 7 5 5 5 4

IGT / The Hangover 0 0 0 0 0 1 5 1 1 6 1 2 4

Multimedia / One Red Cent 0 0 0 0 0 0 0 0 0 2 7 4 3

Spielo / Deal or No Deal 0 0 0 0 0 0 1 0 5 5 2 2 3

Bally / Money Wheel 0 0 0 0 0 0 0 0 0 0 0 2 3

Aristocrat / Cash Express 1 0 1 1 0 1 2 2 0 2 1 1 3

Bally / Hot Shot 5 3 1 4 2 2 3 1 2 3 3 1 3

IGT / Tw ilight Zone 0 0 0 0 1 0 0 0 0 0 0 0 2

WMS / Aladdin 0 0 0 0 0 0 0 0 0 0 3 2 2

Bally / Vegas Hits 0 0 0 2 3 2 4 3 2 0 1 2 2

IGT / Wheel of Gold 0 0 0 0 0 0 0 0 0 0 0 1 2

Spielo / King Kong 0 0 0 0 0 0 0 0 0 0 0 0 2

IGT / Diamond Jackpot 0 0 2 0 1 2 2 2 0 0 1 0 2

IGT / Fort Knox 0 0 0 1 0 1 2 1 1 3 3 4 1

Konami / Beat the Field 0 0 2 2 1 0 3 0 0 2 1 4 1

WMS / Life of Luxury 0 0 0 0 0 0 0 1 0 0 2 3 1

Bally / Lightning Jackpots 0 0 0 0 0 0 0 0 0 1 1 3 1

IGT / Red Hot Jackpots 0 0 0 1 1 1 0 0 0 0 3 2 1

Bally / Monte Carlo 0 0 0 0 0 0 0 1 2 3 2 2 1

IGT / Wheel Poker 0 0 0 0 0 0 0 0 1 1 1 2 1

WMS / Leprechaun's Gold 0 0 0 0 0 0 0 0 0 1 2 1 1

AGS / Diamond Lotto 0 0 0 0 0 0 0 0 0 0 0 1 1

Aruze / Crystal Slots 0 0 0 0 0 0 0 0 0 0 0 1 1

WMS / Game of Life 0 0 0 0 0 0 0 0 0 0 0 1 1

WMS / Monster Jackpots 0 0 0 0 0 0 0 0 0 0 0 1 1

Konami / Money in the Bank 0 0 0 0 0 0 0 0 0 0 0 1 1

IGT / Star Wars 0 0 0 1 1 3 2 3 2 1 1 1 1

COLOSSAL / BIG THUNDER 0 0 0 0 0 1 0 1 1 1 1 1 1

Ainsw orth / Thunder Cash 0 0 0 0 0 0 0 0 0 0 0 0 1

Aruze / Gold 0 0 0 0 0 0 0 0 0 0 0 0 1

Aruze / Innovators 0 0 0 0 0 0 0 0 0 0 0 0 1

Aruze / Rich Life 0 0 0 0 0 0 0 0 0 0 0 0 1

Bally / Code Red 0 0 0 0 0 0 0 0 0 0 0 0 1

Colossal / Wild Gambler 0 0 0 0 0 0 0 0 0 0 0 0 1

IGT / Red Hot Fusion 0 0 0 0 0 0 0 0 0 0 0 0 1

IGT / Tx Holdem Poker 0 0 0 0 0 0 0 0 0 0 0 0 1

WMS / Cheers 0 0 0 0 0 0 0 0 0 0 0 0 1

Rocket Gaming / Snow White 0 0 0 0 0 0 0 0 0 0 0 0 1

Multimedia Games / Jackpot Factory0 0 0 0 0 0 0 0 0 0 0 0 1

Lightning Gaming / Penny Palooza 0 0 0 0 0 0 0 0 0 0 0 0 1

Aristocrat / Xtreme Mystery 0 0 0 0 0 0 0 1 0 0 1 1 1

IGT / Electronic Roulette MP 0 0 0 0 1 0 0 0 1 1 1 0 1

Bally / Million Degrees 0 0 0 0 0 0 0 0 1 1 0 1 1

IGT / Triple Play Poker 0 0 0 0 0 0 0 0 1 2 1 0 1

IGT / CSI 0 0 0 0 0 0 0 0 0 0 0 0 1

IGT / Party Time 0 0 0 0 0 0 0 1 1 0 1 0 1

Aristocrat / Bank Busters 0 0 0 0 0 0 0 0 0 0 1 0 1

IGT / Joker's Heist 0 0 0 0 0 0 0 0 1 0 1 0 1

IGT / Shinobi 0 0 0 0 0 0 0 1 1 0 1 0 1

IGT / Triple Spin Poker 0 0 0 1 0 1 0 0 0 0 1 0 1

Aristocrat / Jaw s 0 0 0 0 0 0 0 0 1 3 0 0 1

Aristocrat / Wonder 4 0 0 0 0 0 0 0 0 0 0 2 0 1

IGT / Sirens 0 0 0 0 0 0 0 0 0 1 0 0 1

Aristocrat / Mummy 0 0 0 0 0 0 0 0 0 0 0 0 1

Total Votes 39 36 45 97 106 119 129 115 128 150 168 187 185



11. Most Anticipated Premium Games

Question 12 – In your opinion, what is the most anticipated premium leased game that has not yet been released in

your market?

This quarter Bally’s NASCAR WAP regained the top spot for

most anticipated premium leased game, according to our

survey participants, receiving 24% of the total votes.

WMS’s Willy Wonka game also remains highly anticipated

coming in 2nd

receiving 19% of the votes. After these two

games there is a noticeable drop off with Spielo’s Plants vs.

Zombies and WMS’s Spiderman titles each receiving 9% of

the votes and Bally’s MJ game rounding out the top 5.

In total, Bally earned the highest number of most anticipated

game votes this quarter receiving 38% of the total vs. 37% last

qtr, and 32% in our 3Q survey.

WMS had the second highest number of most anticipated

games at 33% of the total vs. 30% last qtr and 40% in our 3Q

survey. IGT came in third receiving 12% of the total votes vs.

19% last qtr and 14% in our 3Q survey.

Below we provide a summary table of the historical responses to our question regarding the most anticipated premium leased

games aggregated by supplier.


Most Anticipated Premium Leased Games by Supplier

Supplier 1Q12 2Q12 3Q12 4Q12 1Q13

Bally 28 30 18 21 22

% of total 62% 64% 32% 37% 38%

WMS 6 6 23 17 19

% of total 13% 13% 40% 30% 33%

IGT 8 7 8 11 7

% of total 18% 15% 14% 19% 12%

ALL 1 2 2 4 3

% of total 2% 4% 4% 7% 5%

Spielo 2 2 4 2 6

% of total 4% 4% 7% 4% 10%

Aruze 0 0 0 2 0

% of total 0% 0% 0% 4% 0%

Konami 0 0 1 0 1

% of total 0% 0% 2% 0% 2%

Multimedia 0 0 1 0 0

% of total 0% 0% 2% 0% 0%

Total 45 47 57 57 58

0%

10%

20%

30%

40%

50%

60%

70%

Mar '12 Jun '12 Sep '12 Dec '12 Mar '13

Most Anticipated Premium Leased Game

IGT

Bally

WMS

Aristocrat

Spielo

Multimedia

Aruze

Konami

Most Anticipated Premium Leased Games

Supplier Game Votes % of total

Bally NASCAR 14 24%

WMS Willy Wonka 11 19%

Spielo Plants vs. Zombies 5 9%

WMS Spiderman 5 9%

Bally Michael Jackson 4 7%

IGT Family Guy 3 5%

Bally Pawn Stars 3 5%

WMS Wizard of Oz 2 3%

Aristocrat Cash Express 1 2%

Aristocrat Superman 1 2%

IGT CSI 1 2%

Bally Hot Shot WAP 1 2%

Aristocrat Feature Frenzy 1 2%

Spielo Bejeweled 1 2%

WMS Monopoly 1 2%

IGT Dark Knight 1 2%

IGT Little Green Men 1 2%

IGT Rapid Progressive 1 2%

Konami Goliath 1 2%

Total 58 100%



12. Future New Openings & Expansions

Question 13 – If you have a new casino project or major expansion underway, please indicate how many NEW &

EXPANSIONARY slot machines you plan to purchase by supplier.

We note there are 14 North American survey participants that have new openings and expansions underway and plan to

purchase 5,130 games in aggregate. As for international, we had 5 participants with new openings or expansions underway

with plans to purchase 4,426 slot machines in aggregate. We provide the weighted average ship share by supplier below.


13. Expected Replacement Rate

Question 14 – What % of the casino owned slot machines on your floor do you plan to replace in CY13? Responses

should exclude conversion kits and lease replacements.

Our 73 N. America survey participants (operating 207 casinos & 255,000 slots) plan to replace a weighted average of 11.0% of

the casino owned games on their casino floors in CY13, which is slightly above our industry forecast for a 9.5% replacement

rate. Excluding Canadian VLT replacements, survey participants plan to replace a weighted average of 7.0% of the casino

owned games on their floors in CY13, which is also above our 6.0% replacement forecast. Our five international participants

(operating 45 casinos & 7,500 slots) plan to replace ~15% of the casino owned games in CY13, which is above our N. America

participants. Below we highlight historical trends in N. America slot replacement rates including our current industry forecast:


32%

10%13%

17%

9% 7%

3% 3%0%

3%1% 0% 0% 0% 1% 2%

0%

10%

20%

30%

40%

50%

Future New Openings & Expansions - N. America

25% 24%

5%

11%

5% 5%2%

5%

1% 0% 0% 0% 0% 0% 1%

15%

0%

10%

20%

30%

40%

50%

Future New Openings & Expansions - International

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Expected Forward Repl Rate

Canada VLT Impact

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Expected Forward Repl Rate - Ex Canada VLTs



14. Expected Replacement Ship Share

Question 15 – For expected CY13 game purchases, please indicate your estimated % allocation (“Ship Share”) by

equipment supplier. Please do not include conversion kits.

Similar to our question on 1Q13 purchasing activity, expected CY13 replacement ship share by supplier can vary greatly by

participants and a few large corporate multi-site operators can skew the data. Therefore, we provide both weighted ship share

and non-weighted ship share in analyzing this question.

We also adjust for Canadian VLTs as well as they also reflect a larger percentage of our sample than we estimate actual results

will impact. In looking at the results, we believe the best overall metric to use when assessing the suppliers is the non-weighted

ship share as it removes the large operator bias as well as the Canadian VLT bias while still including both in the results.

In looking at the expected CY13 non-weighted ship share, we highlight two key takeaways. First, non-Big 5 suppliers are

expected to continue to gain ground with Multimedia Games, Ainsworth, and Aruze leading the way. Second, it looks like

WMS’s falling ship share is expected to stabilize and possibly improve slightly in CY13.

Below we highlight both the weighted and non-weighted expected CY13 ship share for North American casinos and the potential

gain/loss vs. TTM ship share.



38%

5%

12%10%

6%

20%

3%1% 0%

2%0% 0% 0% 0% 0%

3%

0%

10%

20%

30%

40%

50%

Expected CY13 Weighted Avg Ship Share

27%

10%

17% 16%

8%

4%7%

3%0%

4%1% 0% 0% 0% 0%

3%

0%

10%

20%

30%

40%

50%

Expected CY13 Non-Weighted Avg Ship Share

2%

-5% -4%-6%

-4%

13%

0% 0% 0% 1% 0% 0% 0% 0% 0%3%

-20%

-10%

0%

10%

20%

Expected CY13 Weighted Ship Share - Gain/Loss on Sold Units Compared w/ TTM ship share

-9%

0%

1% 0%

-2% -3%

4%2%

0%3%

1% 0% 0% 0% 0%3%

-20%

-10%

0%

10%

20%

Expected CY13 Non-Weighted Ship Share - Gain/Loss on Sold Units Compared w/ TTM ship share



Below we highlight both the weighted and non-weighted expected CY13 ship share for North American casinos and the potential

gain/loss vs. TTM ship share excluding Canada VLTs.



Expected CY13 Ship Share by Region

Nevada - 31 casinos Eastern U.S. (DE, FL, ME, NJ, NY, PA) – 14 casinos


32%

10%

17%

13% 12%

2%

6%3%

0%4%

0% 0% 0% 0% 0%2%

0%

10%

20%

30%

40%

50%

Expected CY13 Weighted Avg Ship Share - Ex Canada VLTs

25%

10%

18% 17%

9%

1%

8%

3%0%

4%1% 0% 0% 0% 0%

3%

0%

10%

20%

30%

40%

50%

Expected CY13 Non-Weighted Avg Ship Share - Ex Canada VLTs

-2% -1%0%

-5%

-1%

1%4%

2%0%

2%0% 0% 0% 0% 0% 1%

-20%

-10%

0%

10%

20%

Expected CY13 Weighted Ship Share - Gain/Loss on Sold Units Compared w/ TTM ship share - Ex Canada VLTs

-9%

-1%

1%

-1%-4%

0%

5%2%

0%3%

1% 0% 0% 0% 0%2%

-20%

-10%

0%

10%

20%

Expected CY13 Non-Weighted Ship Share - Gain/Loss on Sold Units Compared w/ TTM ship share - Ex Canada VLTs

15% 16%

30%

7%

11%

6%

11%

1% 0% 1% 1% 0% 0% 0% 0% 1%

0%

10%

20%

30%

40%

50%

Expected CY13 Replacement Ship Share

25%

14%

9%

20% 19%

1% 2%4%

0%

7%

0% 0% 0% 0% 0% 0%0%

10%

20%

30%

40%

50%




Central U.S. (IA, IL, IN, KS, MN, MO, OH) - 24 Casinos Western U.S. Ex NV (AZ, CA, CO, NM, OR, WA) – 24 casinos


Southern U.S. (OK, LA, MS. TX) – 34 casinos California Casinos – 5 Casinos


Canada Casinos – 46 Casinos Canada VLTs – 4,036 retail outlets


International Casinos – 53 Casinos


21%

15%16% 17% 16%

0%

6%3%

0%3%

0% 0% 0% 0% 0%2%

0%

10%

20%

30%

40%

50%


28%

9%

15% 16%

8%

4%

9%

3%0%

5%

0% 0% 0% 0% 1% 2%

0%

10%

20%

30%

40%

50%


22%

14% 14%17%

10%

1%

11%

5%

0% 1% 1% 0% 0% 0% 0%

6%

0%

10%

20%

30%

40%

50%


29%

11%9%

15%

11%

1%

7%6%

0%

8%

0% 0% 0% 0% 1% 2%

0%

10%

20%

30%

40%

50%


23%

15%

29%

11%14%

0% 0% 0% 0% 0% 0% 0% 0% 0% 0%

6%

0%

10%

20%

30%

40%

50%


43%

2%

8% 8%

0%

36%

0% 0% 0% 0% 0% 0% 0% 0% 0%3%

0%

10%

20%

30%

40%

50%


4%

23%

2%5%

1%

5%

0%

5%

0% 0% 0% 0% 0% 0%

4%

37%

0%

10%

20%

30%

40%

50%




15. System & Technology Spending

Question 16 – Who is your current slot management system provider?

The vast majority of our survey participants utilize a Bally slot management system with the next largest system providers being

IGT and Aristocrat. Note, summary results include both N. America and International participants.


The chart below highlights quarterly trends from our survey participants:


Slot Mgt System Provider - N. America & International

Company / System Responses % Casinos % Slots %

Bally (SDS, ACSC, BallyOne, MC) 32 42% 94 35% 122,000 45%

IGT (Advantage , Sbx, CasinoLink) 20 26% 94 35% 77,300 28%

Aristocrat (Oasis) 15 19% 40 15% 32,435 12%

Multimedia Games 1 1% 1 0% 1,100 0%

Konami (KCMS) 2 3% 2 1% 2,577 1%

Other (includes multiple & none) 7 9% 34 13% 37,899 14%

Total 77 100% 265 100% 273,311 100%

Note: We do not include VLT central system technology.

0%

10%

20%

30%

40%

50%

60%

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

System Market Share by Qtr - Based on Slots Installed

Bally

IGT

Aristocrat

Konami

Other



Question 17 – Did you purchase a system product in 1Q CY13? If so, please indicate the type?

We note that 17 of 77, or 22% of participants purchased a system product in 1Q13 vs. 22% in our 4Q12 survey and 28% in our

3Q12 survey and 29% in our 2Q12 survey. We also note those making purchases represented 29% of the total casinos

surveyed vs. 11% last qtr and 32% of the total slots surveyed vs. 20% last qtr.

As for products purchases, we note there were three Bally slot management system installs for new casino openings and one

Bally system upgrade to a newer version. One participant also purchased a Bally Business Intelligence package. One

participant installed an Aristocrat slot management system for a new opening and purchased an Aristocrat Personal Banker

add-on. As for IGT, one participant purchased IGT’s Tournament Manager add-on product and another purchased its Carded

Luck Coin add-on product.


The below chart highlights the quarterly purchasing trends from our survey participants:


Systems technology investment - 1Q CY13

Company / Product Responses % Casinos % Slots %

Did not purchase any technology 60 78% 188 71% 184,922 68%

Purchased systems technology 17 22% 77 29% 88,389 32%

Total 77 100% 265 100% 273,311 100%

35%18% 25% 20% 23% 29% 28% 22% 22%

65%60% 75% 80% 77% 71% 72% 78% 78%

0%

20%

40%

60%

80%

100%

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

System Related Purchase in the Quarter

No

Yes



Question 18 – Do you currently have plans to purchase and install a system product over the next 12 months? If so,

please indicate the type of product.

We note that 27 out of 77, or 35% of our survey participants have plans to purchase systems technology over the next 12

months. This compares with 52% of our survey participants in 4Q12 and 54% in our 3Q12 survey.


The below chart highlights quarterly responses from our survey participants:


The below table is a list of all system products expected to be purchased over the next 12 months.


Systems technology investment plans over next 12 months


No investment plans 50 65% 140 53% 180,000 66%

Plan to invest 27 35% 125 47% 93,311 34%

Total 77 100% 265 100% 273,311 100%

45% 47%

71%58%

35%

60%

38% 43%54% 56% 52%

35%

55% 53%

29%42%

65%

40%

62% 57%46% 44% 48%

65%

0%

20%

40%

60%

80%

100%

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Expected System Purchases over next 12 months

No

Yes

No Supplier Product

1 Ace Systems ACE SYSTEMS, new install

2 Bally Bally / SDS CMP

3 Bally Bally System, replacing competitor

4 Bally Bally System, new opening



7 Bally Bally Tournament Manager

8 Bally Bally/SDS, upgrade

9 Bally Bally/CMP, add-one

10 IGT IGT Advantage, upgrade

11 IGT IGT Media Manager, UGAs & Nexgens

12 Bally New Bally System for new opening

13 Bally Replace old system w / Bally

14 Aristocrat Ricochet Rew ards / Aristocrat

15 Bally SDS upgrade

16 Bally SDS upgrade

17 Aristocrat Sentinel 5

18 Konami SYNKROS/KONAMI, replacing competitor

19 Spielo VLT System

20 Spielo VLT System

21 IGT TITO

22 Bally Up-Grade ACSC

23 IGT Upgrade in softw are

24 Aristocrat Aristocrat System, New opening

25 Bally Upgrade to Bally SDS 10.x

26 Aristocrat upgrade to Oasis nCompass system

27 IGT No product mentioned



Question 19 – Do you currently have plans to install “Picture-in-Picture” (PiP) player communication technology within

the next 12 months? If so, what product/supplier do you plan to use?

In our survey, 22 of 77, or 29% of participants expect to install Picture-in-Picture (PIP) player communication technology over

the next 12 months vs. 33% in our 4Q12 survey, 38% in our 3Q12 survey and 29% in our 2Q12 survey. After a pickup in

interest in our 2Q12 and 3Q12 surveys, we note PIP interest has slowed a bit with our survey participants in the last two qtrs.

Bally’s iView DM also remains the dominant vendor choice for PiP technology.



Note: We did not ask this question in Sep ’10, Dec ’10, & Mar ’11 surveys



Plans to Use Picture-in-Picture (PIP) Player Communication Technology - N. America & International


No PIP Investment plans 55 71% 170 64% 177,811 65%

Plan to invest in PIP 22 29% 95 36% 95,500 35%

Total 77 100% 265 100% 273,311 100%

41% 43%34% 28% 23% 29%

38% 33% 29%

59%

0 0 0

57%66% 72% 77% 71%

62% 67% 71%

0%

20%

40%

60%

80%

100%

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Plans to Invest in Picture-in-Picture (PiP) Technology over next 12 months

No

Yes

Plans to Use Picture-in-Picture (PIP) Player Communication Technology - N. America & International


Bally (iView DM) 13 59% 52 55% 51,500 54%

IGT (sbX Media Mgr) 3 14% 19 20% 28,000 29%

Aristocrat (nCompass) 4 18% 21 22% 13,000 14%

Leap Forw ard 1 5% 2 2% 2,000 2%

Konami 1 5% 1 1% 1,000 1%

Total 22 100% 95 100% 95,500 100%



Question 20 – Do you currently have plans to install printer-based “Targeted Promotional Couponing” within the next

12 months? If so, what product/supplier do you plan to use?

In our survey, 10 of 77, or 13% of participants expect to install printer-based “Targeted Promotional Couponing” technology over

the next 12 months vs. 18% in our 4Q12 survey, 16% in our 3Q12 survey and 13% in our 2Q12 survey. We note TransAct’s

EpiCentral continues to receive the most interest in term of individual responses while FutureLogic’s PromoNet was higher in

terms of number of casinos and slot machines.



Note: We did not ask this question prior to our Dec ’11 qtr survey



Plans to install printer-based "Targeted Promotional Couponing" technology


No Investment plans 67 87% 237 89% 244,262 89%

Plan to invest 10 13% 28 11% 29,049 11%

Company / Product 77 100% 265 100% 273,311 100%

15%27%

13% 16% 18% 13%

85%73%

87% 84% 82% 87%

0%

20%

40%

60%

80%

100%

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Mar'13

Plans to Invest in Printer-based Promotional Couponing over next 12 months

No

Yes

Plans to install printer-based "Targeted Promotional Couponing" technology


TransAct (EpiCentral) 6 60% 7 25% 9,558 33%

FutureLogic (PromoNet) 4 40% 21 75% 19,491 67%

Total 10 100% 28 100% 29,049 100%



Question 21-22 – Do you currently have a Social Gaming presence on Facebook or any other social gaming network?

If yes, please indicate what technology / content provider you are using. If not, do you plan to have a presence within

the next 12 months?

Note, this was the first time we have asked a question regarding social gaming in our slot survey. In this qtr’s survey 43% of

participants indicated that they have a social gaming presence and 29% expected to have one within the next 12 months.

Social Casino Presence - Current


No 44 57% n/a n/a n/a n/a

Yes 33 43% n/a n/a n/a n/a

Total 77 100% n/a n/a n/a n/a

Social Casino Presence - Next 12 Months


No 55 71% n/a n/a n/a n/a

Yes 22 29% n/a n/a n/a n/a

Total 77 100% n/a n/a n/a n/a



16. Historical Accuracy

Below we provide some charts on the historical accuracy of our quarterly survey ship share by supplier through the quarter

ending Dec 31, 2012. In doing this, we compare our survey results with actual units shipped by major suppliers.





0%

5%

10%

15%

20%

25%

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Survey vs. Actual - Aristocrat

Survey results (Ship Share Sold) Actual data

0%

10%

20%

30%

40%

50%

60%

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Survey vs. Actual - IGT


0%

10%

20%

30%

40%

50%

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Survey vs. Actual - WMS


0%

5%

10%

15%

20%

25%

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Survey vs. Actual - Bally


0%

5%

10%

15%

20%

25%

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Survey vs. Actual - Konami


0%

3%

5%

8%

10%

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Survey vs. Actual - MGAM


-15%

-10%

-5%

0%

5%

10%

15%

Dec'09

Mar'10

Jun'10

Sep'10

Dec'10

Mar'11

Jun'11

Sep'11

Dec'11

Mar'12

Jun'12

Sep'12

Dec'12

Average Deviation - % pts



17. Contact Information

Thank you to all participants

On behalf of Eilers Research and Fantini Research we would like to thank all participants for completing our quarterly survey.

Our goal is to make this report a must read by casino operators and investors every quarter. We look forward to your continued

participation and welcome any feedback you might have on how we can improve our survey.

Sincerely,

Todd Eilers, Director or Research, Eilers Research, LLC

Frank Fantini, CEO, Fantini Research

About Eilers Research, LLC

Eilers Research, LLC is a boutique research firm focused on servicing the gaming equipment, technology, and interactive

sectors within the casino gaming industry. Our products and services include market research, equity research, and advisory

services designed specifically for casino operators, equipment & technology suppliers, online & social gaming operators and

suppliers, gaming regulators, and investors. Additional information regarding our research products and services can be

obtained calling Todd Eilers at 949-216-7999, or visiting our website at www.eilersresearch.com .

About Fantini Research

Fantini Research publishes e-dailies and information services for investment professionals and corporate executives. Titles:

Fantini¹s Gaming Report, Fantini¹s Lodging Report and The National Revenue Report. Fantini also performs research projects

on request and offers an advisory service, Gaming Investment Research. Additional information regarding Fantini research

products and services can be obtained calling Mike Pelrine at 302-730-3793, or visiting the company’s website at

www.fantiniresearch.com .

Disclaimer & Terms & Conditions of Use:

Eilers Research, LLC is an independent research firm and is neither a registered broker dealer nor a registered investment advisor. No information

contained in this report shall constitute as a recommendation or solicitation to buy or sell a security. Individuals receiving this report should consult with

an investment advisor or registered representative before making an investment decision related to any information contained in this report. In addition,

Eilers Research, LLC either does, or may seek to do business with any company mentioned in this report. This report was prepared for and distributed to

clients of Eilers Research, LLC. If you are not the intended recipient and/or received this report in error, please delete this document and notify Eilers

Research, LLC at [email protected], or call 949-887-7726. This report is also protected by federal copyright law. Any unauthorized review,

dissemination, or copying of this communication is strictly prohibited. By accessing, reading, storing, distributing and archiving this research report, you

hereby agree, fully, and without dispute, to all terms and conditions outlined above.

http://www.eilersresearch.com/

http://www.fantiniresearch.com/

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