As recently announced, we entered into an agreement pertaining to one of our best performing venues under participation in the Philippines, to help improve performance of our gaming participation operation in this market. This agreement enables us to work directly with the government operator PAGCOR, and serves to increase the company’s revenue sharing rights to 35% from 17% of net win and its control over marketing strategies in this venue.
With regard to gaming chips and plaques, we are pleased to report that we have added several new customers which should provide incremental benefit in future quarters. This includes one new customers in Indo-China which is expected to provide revenues of approximately $350,000 in the first quarter of 2012. Further, we continue to pursue additional new customers in our current and new market as well as a deeper penetration of our existing customer base.
We will discuss our casino development plans in a moment. But first I’d like to turn the call over to Andy, to review the financial results in more detail. Andy?
Andy TsuiThank you, Clarence, and good morning everyone. Before we discuss the detail of the third quarter 2011 financial results, I’d like to remind investors that effective in the beginning of 2011, we reclassify our reported operating segment into two divisions. Gaming operations which include our gaming participation business and future casino development operations and other products which consist of our Dolphin operating division, formerly called table game and non-gaming products. These changes do not reflect any change in focus of the company. And new reporting segment information have been applied retroactively to all periods discussed. Read the rest of this transcript for free on seekingalpha.com
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