GameTech International expects to write down the value of its Reno headquarters building by about $2.8 million, the company said in a filing with the Securities and Exchange last week.
The maker of electronic bingo and video gaming systems bought the building at 8850 Double Diamond Parkway for $7.2 million in 2008. The 115,140-square-foot building was put back on the market in September.
Publicly held GameTech has delayed its most recent quarterly report to shareholders while it completed analysis of writedowns of the value of some of its assets.
Nasdaq has told GameTech that it needs to file the quarterly report by Jan. 31 to avoid de-listing of its stock. It was trading at 34 cents a share last week, down from its 52-week high of $2.19.
Comments
Use the comment form below to begin a discussion about this content.
Sign in to comment