This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Exterior Architectural Rendering Of Dreamworld Poipet (Photo: Business Wire)

The solid top-line growth combined with higher expenses primarily related to start-up and general operating costs associated with its new casino operations resulted in adjusted EBITDA of $2.8 million for the second quarter of 2012 compared to $3.3 million for the second quarter of 2011.

Entertainment Gaming Asia reported net income of $484,000, or $0.02 per share, on a weighted average diluted share count of approximately 31.3 million shares for the second quarter of 2012. This compared to net income of $307,000, or $0.01 per share, on a weighted average diluted share count of approximately 30.1 million shares for the second quarter of 2011.

Focus on Improving Slot Returns

The Company continues its efforts to improve returns on its slot operations by focusing on its higher potential venues. These efforts include the closure of under-performing venues and the strategic movement of machines to focus on those higher performing venues. During the second quarter and through August 1, 2012, the Company added one slot operation location, Thansur Bokor, and terminated three slot contracts, of which two were in the Philippines and one was in Cambodia. The three terminated contracts comprised approximately 232 seats of which 84 have been redeployed so far to other higher potential locations.

Strengthening Gaming Chips and Plaques Operations

The Company continued to focus on improving the financial performance of its other products division, which includes the manufacture and sale of gaming chips and plaques. Through its expanded product offerings, which include new styles of chips and more innovative, state of the art security features, and its targeted marketing programs, the Company has further strengthened its existing customer relationships in its core markets of Australia and Macau and is working to broaden its customer base in existing and new geographies. As a result, the Company recorded strong revenue growth for this business during the quarter driven by customer reorders and secured a $2 million order from an existing customer to be delivered in the third quarter of 2012. Further, the Company has begun its expansion and improvement plans for the manufacturing plant, which are expected to increase operating efficiencies and automation.

3 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs