GameTech International, the Reno maker of electronic bingo gear that's in default with its lenders, says its banks have given it time to work things out.
The company said in a filing with the Securities and Exchange Commission that Bank of the West and U.S. Bank extended the due date on loan payments to Oct. 31.
GameTech had missed Aug. 31 payments on its bank debt totaling more than $1.9 million. The company said it doesn't expect to have the money by Oct. 31, either, but it's working with the banks to find another solution.
As part of the lenders' agreement to hold off until Oct. 31, they required GameTech to retain a consultant that's agreeable to the lenders.
GameTech has listed its South Meadows office building and manufacturing facility for sale. The company paid $7.2 million when it bought the building in 2008.
