Innovative Gaming Corporation of America
By darren
LAS VEGAS/EWORLDWIRE/March 4, 2003 --- Innovative Gaming

Corporation of America (OTCBB: IGCA.OB), a developer and

manufacturer of fast playing, highly interactive gaming

machines, today announced that it has entered into a

definitive agreement with GET USA, Inc. ('GET'), with

offices in Sydney, Las Vegas and London, to license the

IGCA’s Linux-based operating system in exchange for the

settlement of $475,000 in development expenses and hard

costs owed to GET as part of the proposed merger agreement

with GET that was terminated in August 2002. 


Wayne Mills, interim CEO of IGCA stated, 'My mission since

taking over as CEO has been very clear. Streamline the

company’s operations, significantly reduce operating

overhead and work with our creditors and investors to

improve our balance sheet. This agreement with GET is just

one of the steps we have taken. We have also:


*Negotiated substantial discounts on an additional

$200,000+ in payables.

*Consolidated two facilities into one.

*Reduced overhead by eliminating over 25 positions at the

Company.


Mills added, 'The progress at the company has exceeded my

expectations. Thanks to the commitment and extra efforts

from our current employees, especially Loren Piel, our

Executive Vice President and General Counsel, and John

VanHoove and Jack Deremer, our sales team, we have reduced

expenses while meeting our internal sales goals. We have a

lot more work to do but I am becoming an optimistic

shareholder again.'


About Innovative Gaming

Innovative Gaming Corporation of America, through its

wholly owned operating subsidiary, Innovative Gaming, Inc.,

develops, manufactures and distributes fast playing, highly

interactive gaming machines. The company distributes its

products both directly to the gaming market and through

licensed distributors. For more information, visit

www.igca.com or call 702-614-7199.


Forward Looking Statements

Safe Harbor Statement under the Private Securities

Litigation Reform Act of 1995: Except for historical

information, the forward looking matters discussed in this

news release are subject to certain risks and

uncertainties, including but not limited to issuance of

additional convertible notes, the Company's liquidity and

need to raise additional capital, as well as other risks

indicated from time to time in the Company's filings with

the Securities and Exchange Commission, such as the

Company's Form 10K for the fiscal year ended December 31,

2001. The Company assumes no obligation to update or

supplement forward-looking statements that become untrue

because of subsequent events. 


A registration statement relating to certain securities of

the Company has been filed with the Securities and Exchange

Commission but has not yet become effective. These

securities may or may not be sold nor may offers to buy be

accepted prior to the time the registration statement

becomes effective. This press release shall not constitute

an offer to sell or the solicitation of an offer to buy nor

shall there be any sale of these securities in any state in

which such offer, solicitation, or sale would be unlawful

prior to registration or qualification under the securities

laws of any such state.


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CONTACT:

Investor Contact: 

Loren A. Piel

Innovative Gaming Corporation of America

PHONE: 702.614.7199

FAX: 702.614.7114 

EMAIL: lpiel@igca.com


URL: http://www.icga.com


Copyright 2003 Eworldwire, All rights reserved.


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