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Entertainment Gaming Asia Inc. Reports Third Quarter 2013 Results And Provides Market Update

Stocks in this article: EGT

Entertainment Gaming Asia Inc. (NASDAQ: 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, 2013 and reviewed recent corporate progress.

Highlights:

  • Total consolidated revenue of $5.7 million for the third quarter of 2013
  • Total revenue from gaming operations of $4.5 million for the third quarter of 2013
  • Average consolidated win per unit per day (WUD) from slot operations of $108 for the third quarter of 2013
  • Revenue from gaming products of $1.1 million for the third quarter of 2013
  • Adjusted EBITDA (earnings from continuing operations before interest, taxes, depreciation, amortization and non-cash charges) of $1.8 million for the third quarter of 2013
  • Net loss of $309,000 for the third quarter of 2013
  • Cash balance of $4.6 million and zero debt as of September 30, 2013
  • Dreamworld Poipet achieved positive EBITDA for the third quarter of 2013
  • Dolphin gaming chips and plaques current order pipeline of approximately $1.3 million in revenue

Clarence Chung, Chairman and Chief Executive Officer of Entertainment Gaming Asia, commented, “Gaming operations revenue improved slightly for the third quarter compared to the prior year period due to incremental revenue contribution from Dreamworld Poipet and improvement in Dreamworld Pailin, which offset declines in other slot operations.

“Dreamworld Poipet, a slot hall which we developed in an established regional gaming market in Cambodia, posted quarterly sequential improvement and contributed positive EBITDA to the quarter. Since the opening in May 2013, we have been focused on the implementation of targeted marketing programs to develop and expand a quality player base with a goal to capture a meaningful share of this vibrant market.

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