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TheStreet Open House

Entertainment Gaming Asia Reports Fourth Quarter And 2011 Fiscal Year Results And Provides Market Update

Stocks in this article: EGT

Clarence Chung, Chairman and Chief Executive Officer of Entertainment Gaming Asia, commented, “We are pleased to work with such a prominent partner as Sokha to manage their slot operations at Thansur Bokor and to have the opportunity to expand this relationship to its other prestigious properties. We believe this agreement offers strategic benefits by not only expanding our presence in the Indo-China region and demonstrating our operational expertise but also by contributing to near-term earnings and long-term growth. Further, given Thansur Bokor is a destination resort, catering primarily to tourists, and is approximately 1.5 hours by car from our Kampot border casino project, we believe the Agreement is an attractive complement to our gaming operations in Cambodia.”

Gaming Chip and Plaque Improvements

The Company is focused on driving continued improvement in the financial performance of its other products division, which includes the manufacture and sale of gaming chips and plaques. The Company is working to expand its product offerings to include new styles of chips and more innovative, state of the art security features. Further, through its investment in its manufacturing facilities, the Company is planning to expand its production capacity and increase operating efficiencies and automation.

The Company continues to implement targeted marketing programs to further strengthen its existing customer relationships in its core markets of Australia and Macau and to broaden its customer base in current and new geographies. These programs are already beginning to provide benefits with quality customer reorders booked in the fourth quarter of 2011 and the recent acquisition of several new customers including one in the Indo-China region and one in Macau.

While these efforts are not expected to minimize the normal fluctuation in quarterly sales flow of this business segment, the Company anticipates they will drive meaningful long-term improvement in revenue and gross profit for these operations.

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