Entertainment Gaming Asia Inc. (NYSE Amex: EGT) (“Entertainment Gaming Asia” or “the Company”), a leading gaming company focused on emerging gaming markets in Pan-Asia, today announced it will hold the groundbreaking ceremony for its slot hall project in Poipet, Cambodia (the “Poipet Project”) on May 10, 2012 at 4:00 p.m. local time. The Poipet Project, strategically located at Cambodia’s most significant border crossing with Thailand, will be constructed as an extension of an existing popular casino and will be operated by the Company under its Dreamworld brand name.
The $7.5 million internally funded Poipet Project is expected to open by the end of this year. It is intended to measure approximately 12,000 square feet (1,100 square meters) and house a comprehensive suite of 300 high-quality electronic gaming machine seats from top-tier manufacturers.
Clarence Chung, Chairman and Chief Executive Officer of Entertainment Gaming Asia, commented, “We are pleased to begin the development phase of our exciting new Dreamworld Poipet Project and plan to commence full construction efforts shortly. We believe our Dreamworld Poipet Project will elevate the gaming experience in this market to a higher level. Our entrance into the established and growing gaming market of Poipet is a positive step in our strategy to become a leading developer and operator of regional casinos and gaming venues in Indo-China. We invite investors to visit our corporate website at www.EGT-Group.com to follow the development of our gaming projects.”
About Entertainment Gaming Asia Inc.Entertainment Gaming Asia Inc. (NYSE Amex: EGT) is a leading provider of electronic gaming machines on a participation basis to the Pan-Asian gaming industry. The Company secures long-term contracts to provide electronic gaming machines and related systems to premier hotels and other well-located gaming venues in Asia. The Company retains ownership of the gaming machines and systems and receives recurring daily or monthly fees based on an agreed upon percentage of the net gaming win per machine and provides on-site maintenance. Entertainment Gaming Asia Inc. is also engaged in the development and operation of casino resorts and gaming venues under the “Dreamworld” brand in the Indo-China region. For more information please visit www.EGT-Group.com Forward Looking Statements This press release contains forward-looking statements concerning Entertainment Gaming Asia within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those forward-looking statements include statements regarding expectations for the expansion of the Company’s participation business model, the timeline and working capital requirements for its casino and gaming projects, growth of the gaming industry in the Indo-China region and the Company’s ability to secure new casino and gaming projects and fund those projects as well. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, risks related to Entertainment Gaming Asia’s ability to place gaming machines at significant levels and generate the expected amount of net win from the gaming machines placed, obtain the gaming license and building permits and complete the development for the casino projects on a timely basis or at all, identify, procure successfully develop additional casino projects in the Indo-China region, acquire additional capital as and when needed and those other risks set forth in Entertainment Gaming Asia’s annual report on Form 10-K for the year ended December 31, 2011 filed with the SEC on March 30, 2012 and subsequently filed quarterly reports on Form 10-Q. Entertainment Gaming Asia cautions readers not to place undue reliance on any forward-looking statements. Entertainment Gaming Asia does not undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.