Las Vegas Palms Casino Selects Rekor Systems Roadway Intelligence Solution

Rhea-AI Summary

Rekor Systems, Inc. (NASDAQ:REKR) has announced the acquisition of its eighth casino customer, Palms Casino Resort. This multi-year contract includes Rekor's AI-powered platform for public safety, Rekor Scout, and Edge Max systems for vehicle and license plate recognition. The collective value of contracts from these eight casinos amounts to approximately $1 million. The partnership aims to enhance security and guest safety and improve vehicle traffic understanding at the resort. Palms, owned by the San Manuel Gaming and Hospitality Authority, features extensive facilities including a 95,000-square-foot casino and numerous event spaces.

Positive

• Acquisition of eighth casino customer, expanding market presence.
• Contract value of approximately $1 million from eight casino clients.
• Introduction of advanced AI technology for enhanced security and vehicle traffic management.

Negative

• None.

Company acquires its eighth casino customer

COLUMBIA, MD / ACCESSWIRE / March 24, 2023 / Rekor Systems, Inc., (NASDAQ:REKR) ("Rekor" or "the Company"), a global AI technology company with a mission to provide insights that build safer, smarter, and more efficient cities around the world through intelligent infrastructure, today announced that the Palms Casino Resort ("Palms") has purchased a multi-year contract for Rekor's AI-powered platform for intelligence-led public safety, Rekor Scout™ as well as a number of Edge Max systems, Rekor's industry-leading vehicle and license plate recognition systems, as a key part of the resort casino's new plans to enhance property security as well as guest safety while also better understanding vehicle traffic.

Palms is Rekor's eighth casino customer and joins a growing list of Rekor customers in the gaming industry, including leading casino operators in Nevada, New York, and California. These eight casinos collectively represent approximately $1 million in total contract value.

Palms is located just west of the center of the Las Vegas Strip off I-15 on Flamingo Road. The San Manuel Gaming and Hospitality Authority, an affiliate of the San Manuel Band of Mission Indians, owns Palms Casino Resort. It features two distinct towers with 766 hotel rooms and suites, a diverse mix of bars, restaurants, live entertainment venues, and immersive lifestyle experiences across a 95,000-square-foot reimagined casino. The resort also includes over 190,000 square feet of meeting, convention, and event space; the Pearl, a 2,500-seat theater; an expansive pool and spa area; wedding chapel; the Brenden Theatres 14-screen cinema and nearly 600 units at Palms Place condominiums.

"Joseph Tatonetti, Director of Surveillance Palms Casino Resort, said: "We are pleased to partner with Rekor Systems to enhance our property security and better understand vehicle traffic. This roadway intelligence solution provides unparalleled accuracy in real-time vehicle recognition, make and model identification, and license plate reading. The system integrates with existing security infrastructure and enables security personnel to quickly identify and track vehicles on casino property. By utilizing Rekor's roadway intelligence solution, we will be able to enhance guest safety and provide a more secure environment for everyone at our resort."

"We are thrilled to work with Palms Casino Resort to help enhance their security operations. Our roadway intelligence solution is a powerful tool for security professionals, providing them with the information they need to make timely and informed decisions," said Michael Dunbar, CRO, Rekor

About Rekor Systems, Inc.
Rekor Systems, Inc. (NASDAQ:REKR) is a trusted global authority on intelligent infrastructure providing innovative solutions that drive the world to be safer, smarter, and greener. As a provider of comprehensive, continuous, and real-time roadway intelligence, Rekor leverages AI, machine learning, and holistic data to support the intelligent infrastructure that is essential for smart mobility. With its disruptive technology, the Company delivers integrated solutions, actionable insights, and predictions that increase roadway safety. To learn more, please visit our website: https://rekor.ai, and follow Rekor on social media on LinkedIn, Twitter, and Facebook.

Forward-Looking Statements
This press release and its links and attachments contain statements concerning Rekor Systems, Inc. and its future expectations, plans, and prospects that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the impact of Rekor's core suite of AI-powered technology and the size and shape of the global market for ALPR systems. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise.

Media & Investor Relations Contact:
Rekor Systems, Inc.
Charles Degliomini
ir@rekorsystems.com

SOURCE: Rekor Systems, Inc.

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https://www.accesswire.com/745558/Las-Vegas-Palms-Casino-Selects-Rekor-Systems-Roadway-Intelligence-Solution

FAQ

What recent contract did Rekor Systems sign with Palms Casino Resort?

Rekor Systems signed a multi-year contract with Palms Casino Resort for its AI-powered public safety platform and Edge Max systems.

How many casino customers has Rekor Systems acquired?

Rekor Systems has acquired a total of eight casino customers.

What is the total contract value from Rekor's casino customers?

The total contract value from Rekor's eight casino customers is approximately $1 million.

What technologies will Rekor provide to Palms Casino Resort?

Rekor will provide its AI-powered platform, Rekor Scout, and Edge Max systems for vehicle and license plate recognition.

Who owns Palms Casino Resort?

Palms Casino Resort is owned by the San Manuel Gaming and Hospitality Authority.