Elixir Gaming Technologies, Inc. Q1 2010 Earnings Call Transcript

Elixir Gaming Technologies, Inc. (EGT)

Q1 2010 Earnings Call

May 12, 2010 8:30 am ET

Executives

Traci Mangini – SVP, Corporate Finance

Clarence Chung – Chairman and CEO

Andy Tsui – Chief Accounting Officer

Analysts

Paul Sonz – Paul Sonz Partners

[Jim Crabb] – No company listed

Presentation

Operator

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Welcome to the Elixir Gaming Technologies, Inc. first quarter 2010 earnings conference call. (Operator instructions) As a reminder, this conference is being recorded today, Wednesday, May 12, 2010. I would now like to turn the conference over to Ms. Traci Mangini. Please go ahead.

Traci Mangini

Thank you, operator. Good morning, everyone. I am Traci Mangini, Senior Vice President, Corporate Finance for Elixir Gaming Technologies. With me today on the call are Clarence Chung, Chairman and Chief Executive Officer, and Andy Tsui, Chief Accounting Officer.

Before we start, let me review the Safe Harbor Statement. Some of the statements that the company will make on this conference call such as statements about the company’s plans and expectations are forward-looking. While forward-looking statements reflect the company’s good faith beliefs they are not guarantees of future performance and involve risks and uncertainties. The company’s actual results could differ materially from those discussed on this phone call.

Some of these risks and uncertainties are described in today’s news announcement and in the company’s filings with the Securities and Exchange Commission, including the company’s reports on forms 8-K, 10-K and 10-Q. Elixir Gaming assumes no obligation to publicly update or revise any forward-looking statements.

Now, the agenda for today’s call will be as follows. First, Clarence will provide the highlights of our first quarter earnings and recent corporate developments. Following that, Andy will review in more detail our financial results for the quarter. Clarence will then conclude our prepared remarks with our second quarter guidance and future outlook. We will then take questions from investors and analysts.

With that, let me turn the call over to Clarence Chung. Clarence?

Clarence Chung

Thank you, Traci, and good morning, everyone. Elixir Gaming posted continued solid improvement in both gaming participation revenues and consolidated adjusted EBITDA for the first quarter 2010. Our performance marks strong progress following the refocusing of our operations and streamlining of our cost structure since 2009.