Q4 and 2011 Fiscal Year Financial Review
Beginning in the fiscal year 2011, the Company reclassified its reporting segments to include: “gaming”, which consists of its gaming machine participation and future casino operations; and “other products,” which consolidates the previously reported segments of “table game products” and “non-gaming products” from the Company’s wholly-owned Dolphin subsidiary. The new manner of segment reporting has been applied retroactively to all periods presented.
Entertainment Gaming Asia’s fourth quarter of 2011 consolidated revenue was $7.7 million, an increase of 25% compared to $6.1 million in the fourth quarter of 2010. Consolidated revenue was $27.1 million for the 2011 fiscal year, an increase of 22% compared to $22.2 million in the 2010 fiscal year. The increases were due to significant improvements in both of the Company’s gaming and other products business segments.
Revenue from gaming operations was $4.3 million in the fourth quarter of 2011, an increase of 12% compared to $3.8 million in the fourth quarter of 2010. Revenue from gaming operations was $17.4 million for the 2011 fiscal year, an increase of 22% compared to $14.3 million in the 2010 fiscal year. The increases reflected strong performance from our operations at Nagaworld in Cambodia, where the Company achieved solid growth in average WUD driven primarily by targeted marketing to customers and machine mix improvements.The Company’s Philippines operations also experienced strong improvement in average WUD for the fourth quarter and 2011 fiscal year compared to the prior-year periods. The Company attributes this to efforts to strategically manage its machine placements, marketing initiatives focused on the Company’s most promising venues in this market and the October 2011 agreement to increase the Company’s revenue sharing rights and marketing control in the attractive San Pedro VIP Club.
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