Dolphin Limited continues to seek representation on Multimedia Games' board

By Lisa Kerner

Charlotte, N.C., Nov. 6 - Multimedia Games, Inc. investors led by Dolphin Limited Partnership III, LP have continued to discuss representation on the company's board of directors, it was reported in a schedule 13D/A filed with the Securities and Exchange Commission on Thursday.

Dolphin asked for representation on the board in October, according to a prior SEC filing.

According to Dolphin, Multimedia Games is an attractive investment opportunity for several reasons, including that it trades at approximately 70% of tangible book value and the slot/bingo machine segment has generally been the most recession-resistant segment of the market.

Also in Thursday's filing, investors led by Dolphin reported the purchase of 247,538 shares of Multimedia Games between Oct. 8 and Nov. 5 at prices from $2.1463 to $4.3906 each.

The investors also purchased a January call option for 20,000 shares. The strike price is $5.00, and the price per share was $0.11035.

Dolphin beneficially owns approximately 1.87 million shares, or 7.1%, of the Austin, Texas-based company's stock. Multimedia Games develops systems, content, electronic games and player terminals for the Native American and other gaming markets.

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