IndigoVision's US gamble pays off with casino contract

INDIGOVISION has continued its drive into the US casino market, announcing a third major installation in just over a year.

The Edinburgh-based digital CCTV company said it had won a contract to upgrade a system with more than 500 cameras at the Emerald Queen I-5 Casino in Tacoma, Washington.

According to IndigoVision the Emerald casino complex is only the third in the US to install a fully digital system, with the other two both its own installations.

"This firmly establishes the company's integrated IP Video system as the market leader for complete digital CCTV solutions in casinos," IndigoVision said.

The firm's chief executive, Oliver Vellacott, has targeted the casino market and has been rewarded with a string of large contracts.

The first US project, at the Mardi Gras Racetrack and Gaming Center, Hollywood, Florida, announced a year ago, was its largest US contract to date, believed to be worth around dollars 500,000. It also recently upgraded nine casinos in South America.

Mark Arquette, surveillance director for the Puyallup Tribe of Indians, which operated the casinos, said IndigoVision won a competitive pitch for the project, impressing the tribe with the speed at which the video can be accessed.

IndigoVision has shown strong growth in recent years, with sales rising 77 per cent to GBP 13.4 million in the year to 31 July, with pre-tax profits doubling to GBP 670,000. At last week's annual general meeting, the company said first-quarter sales were 38 per cent higher than in the last year predicting a "material and sustainable" improvement in operating results.

Yesterday shares rose 5p to 930p, valuing it at GBP 65.9 million.