Aces Wired reports results

DALLAS, Texas -- (PRESS RELEASE) -- Aces Wired, Inc. (OTCBB: AWIR), an operator of amusement gaming centers and a licensed distributor of bingo supplies and equipment, announced today its operating results for the first fiscal (14-week) quarter of 2008.

Net revenue for the first quarter of 2008, which ended February 3, 2008, was $6.2 million, compared to $5.5 million in the first fiscal (13-week) quarter of 2007, which ended January 28, 2007. The Company recorded a net loss of approximately $575,000 for the first quarter of 2008, or ($0.07) per basic and diluted common share, compared to a net loss of $829,000, or ($0.12) per basic and diluted common share, for the first quarter of 2007.

"As we anticipated, first quarter consolidated revenue and operating results benefited from the improvement in the contribution from our amusement gaming centers, the growth of which more than offset the previously disclosed decline in revenue from bingo distribution operations. We are pleased with our progress to date and are optimistic about our growth opportunities for the rest of 2008. We remain committed to our goal of having 14 gaming centers operating by the end of our fiscal year 2008 with approximately 1,300 amusement game machines. In addition, we plan to have licensed approximately 400 machines to 16 bingo hall operators in Texas by the end of the fiscal year," said Kenneth R. Griffith, the Company's President and CEO.

Before promotional expenses, average revenue (or hold) per day per machine for the Company's amusement centers increased to approximately $134 per day for February 2008 from $116 per day for January 2008. The Company expects the daily hold per machine in the second quarter of 2008 to be $130 to $140, based on preliminary estimates. During the first quarter of 2008, the Company opened two new amusement gaming centers and licensed machines to three new facilities under our licensing program. The Company also opened a new amusement center and licensed machines to another facility in late February 2008 and expects that it may license machines to up to three additional facilities during the second quarter of 2008.

On March 3, 2008, the Company announced that it opened its sixth gaming amusement center, which is located in Ft. Worth, Texas, increasing the total number of gaming machines currently operated by the Company to 405.