MAI Systems Sells Off Gaming Services
<i> Dow Jones</i>
MAI Systems Corp. said Monday that it sold the assets of its Gaming Services International unit to an unnamed privately held custom programming house.
Specific terms weren’t disclosed, but MAI said the purchase price exceeded book value.
MAI, an Irvine-based provider of information systems products, said it expects the acquisition to have an immaterial effect on its results for the quarter ending June 30.
Gaming Systems contributed less than 5% of MAI’s revenue for the year ended Dec. 31 and for the first quarter ended March 31.
MAI recorded a loss of $2.3 million, or 23 cents a share, for 1998. The company earned $1.2 million, or 11 cents a share, for the first quarter.
