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TheStreet Open House

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

Stocks in this article: EGT

Continuing Efforts to Ramp Up Dreamworld Pailin

In May 2012, the Company opened the mass market floor of its first casino development project, Dreamworld Pailin. Dreamworld Pailin is located at the Cambodia-Thailand border on a growing trade route connecting the two countries. It currently houses 26 popular table games such as baccarat and dice games and an attractive suite of 52 EGM seats.

In the fourth quarter of 2012, the Company implemented a number of new marketing initiatives to ramp up operations of the mass market floor. These efforts resulted in an increase in player traffic and improved performance. However, volatility remains as the Company continues to refine its marketing programs. The Company expects to establish normalized operating results for Dreamworld Pailin within the next one to two quarters.

Dreamworld Poipet Prepares to Open

Construction of Dreamworld Poipet, a stand-alone slot hall in the established gaming market of Poipet at the Cambodia-Thailand border, continues at a steady pace. This $7.5 million project, which is being constructed as a stand-alone extension to an existing casino owned by a local Cambodian company, is scheduled to soft open on March 28, 2013 with approximately 300 premium quality EGM seats. The Company anticipates the grand opening will follow in April 2013 and will announce the official date shortly.

Clarence Chung, Chairman and Chief Executive Officer of Entertainment Gaming Asia, concluded, “We are focused on the execution of our casino and gaming development growth strategy. We are pleased to have our first project, Dreamworld Pailin, open and continue to implement and refine our marketing strategies to improve its operating performance. In addition, we look forward to the soft opening of our next project, Dreamworld Poipet, later this month. We believe that our established presence, resources, and marketing relationships in the area should provide us benefits for the ramp up of this new project. We continue to selectively pursue additional gaming projects in our target markets and are dedicated to fulfilling our goal of becoming a leading developer and operator regional casinos and gaming venues under our Dreamworld brand in the Indo-China region.”

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