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Progressive Gaming replaces CEO, lowers expectations

Las Vegas-based Progressive Gaming International replaced its CEO this morning and told investors that its financial results in 2008 were going to fall below the company’s previous projections.

The board of directors of the gaming technology provider said CEO Russel McMeekin was stepping down and would be replaced on an interim basis by Terrance Oliver, a member of the company’s board since 1988.

In a statement, Oliver said the company would implement cost-cutting measures.

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