This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Entertainment Gaming Asia Reports Third Quarter 2012 Results And Provides Market Update

Entertainment Gaming Asia Inc. (NYSE MKT: EGT) (“Entertainment Gaming Asia” or “the Company”), a leading gaming company focused on emerging gaming markets in Pan-Asia, today reported operating results for the third quarter ended September 30, 2012 and reviewed recent corporate progress.

Highlights:

  • Total consolidated revenue of $7.9 million for the third quarter of 2012
  • Total revenue from gaming operations of $4.5 million for the third quarter of 2012
  • Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and non-cash charges) of $2.3 million for the third quarter of 2012
  • Net income of $43,000 for the third quarter of 2012
  • Average consolidated win per unit per day (WUD) for the slot operations (formerly referred to as the participation business) of $132 for the third quarter of 2012
  • Gaming chip and plaque sales of $1.7 million for the third quarter of 2012, representing 85% of total gaming chip and plaque sales for the full year 2011
  • Cash balance of $10.6 million as of September 30, 2012
  • Total debt reduced to $1.6 million as of September 30, 2012
  • Dreamworld Poipet on target to open in the first quarter of 2013
  • Strong pipeline for the Company’s gaming chips and plaques for the fourth quarter of 2012 with announced orders totaling $1.9 million from Crown Perth in Australia and the new Solaire Resort & Casino in the Philippines

Clarence Chung, Chairman and Chief Executive Officer of Entertainment Gaming Asia, commented, “We posted top-line growth of 21% for the third quarter of 2012 driven principally by increases in our other products division, namely gaming chips and plaques. Our gaming chips and plaques business recorded strong revenue of $1.7 million in the quarter, primarily due to a large order for an existing customer. Gaming operations benefited from incremental revenue from our new casino Dreamworld Pailin and improvement for our slot operations in the Philippines. However, this was partially offset by softness in net wins per machine for our operations at NagaWorld. In addition, we commenced full construction of our gaming development project, Dreamworld Poipet, during the quarter while paying down debt and maintaining a solid cash position of $10.6 million as of September 30, 2012.

1 of 9

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs