Expanding Customer Base for Gaming Chips and Plaques
The Company continues to focus on deriving greater value from its Dolphin subsidiary, which includes the manufacture and sale of gaming chips and plaques. Through continued product enhancement and development and targeted marketing strategies, the Company seeks to strengthen its existing customer relationships and broaden its customer base. Based on these efforts, the Company has recently secured several new customers including one in the Indo-China region, which is expected to contribute approximately $350,000 in revenue in the first quarter of 2012, and one in Macau.
Casino Development Update
The Company continues to make progress in the pre-construction phase of its Dreamworld Casino Pailin and Dreamworld Casino Kampot projects. For the Pailin project, located in the Pailin Province of Cambodia near the Thailand border, the necessary gaming license and construction permit have been obtained and the Company is preparing to begin construction by the end of the year. Based on the current construction timeline for this project, the Company expects that the initial phase of the casino, which is intended to include up to 23 table games and 40 EGM seats, to be operational in the second quarter of 2012.With improved soil conditions post the heavy rainfall during monsoon season and the receipt of the necessary government approval, the Company is working to complete the land-fill process for the Kampot project, located in the Kampot Province of Cambodia near the Vietnam border. The initial phase of the casino, which is intended to include up to 14 table games and 25 EGM seats, is expected to be operational in the second quarter of 2012 shortly following the opening of the Pailin project. Clarence Chung, Chairman and Chief Executive Officer of Entertainment Gaming Asia, concluded, “We remain focused on enhancing our core gaming operations and executing our strategic growth initiatives to develop and operate regional casinos under our “Dreamworld” brand in the Indo-China region. We believe our Pailin and Kampot casino development projects are strategically positioned within the attractive growth markets of the Indo-China region and provide the ability to expand and grow with these markets. We are making progress in the development of these projects and continue our efforts to selectively build a solid pipeline of additional projects to become a leading owner and operator of regional casinos in the Indo-China region.”