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Entertainment Gaming Asia Reports Fourth Quarter And 2012 Fiscal Year Results And Provides Market Update

The Company recorded $4.5 million in revenue for its slot operations during the fourth quarter of 2012, an increase of 5% compared to $4.3 million in the fourth quarter of 2011. Revenue from slot operations was $18.6 million for the 2012 fiscal year, an increase of 7% compared to $17.4 million in the 2011 fiscal year. The increases were primarily a result of higher average WUD due to increased marketing particularly during the holiday season, machine mix improvements, increased revenue sharing in one of the venues in the Philippines, and incremental revenue from Thansur Bokor. The Company’s slot operations in NagaWorld were a strong contributor to slot revenue and achieved average WUD of $236 for the fourth quarter of 2012 and $242 for the 2012 fiscal year compared to $219 and $232 in the respective prior year periods.

Slot Operations
         
Net Revenue to EGT (in millions)
    Q4:12   Q4:11   Y/Y ∆ FY12   FY11   Y/Y ∆
Cambodia   $3.5   $3.3   6% $14.7   $13.9   5%
Philippines   $1.0   $1.0   1% $3.9   $3.5   13%
Consolidated   $4.5   $4.3   5% $18.6   $17.4   7%
WUD*    
    Q4:12   Q4:11   Y/Y ∆ FY12   FY11   Y/Y ∆
Cambodia   $189   $219   -14% $203   $232   -13%
Philippines   $83   $64   30% $75   $63   19%
Consolidated   $145   $136   7% $145   $140   4%
EGM Seats in Operation
              12/31/12   12/31/11   Y/Y ∆
Cambodia             824   719   15%
Philippines             581   758   -23%
Consolidated             1,405   1,477   -5%

*

 

Represents WUD for the Company’s slot machine operations. It excludes EGM seats in operation during venue soft launch opening periods and includes cash payments for venues for which revenue is recognized on a cash basis. Had such applicable seats been included and all revenue recognized on an accrual basis for the above 2012 periods, it would not have had a material impact on the WUD for these periods. Had such applicable seats been included and all revenue recognized on an accrual basis for the above 2011 periods, WUD for these periods would have been $202 for Cambodia, $65 for the Philippines, and $132 for the consolidated average and $214, $61, and $133, respectively.

Casino operations, which presently comprise Dreamworld Pailin, contributed $1.3 million to total gaming revenue in the fourth quarter of 2012 and $1.8 million in the 2012 fiscal year. Dreamworld Pailin revenue continued to ramp up during the fourth quarter of 2012 due to increased marketing activity and machine mix changes.

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