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Now, the agenda for today’s call will be as follows; first, Clarence will discuss the highlights of our second quarter 2012 financial performance and recent corporate developments. Following that, Andy will review in more detail of the financial results for the fourth quarter. Clarence will then conclude our prepared remarks with an update on our plans for our gaming operations. We would then be very pleased to take your questions.With that, please let me turn the call over to Clarence Chung. Clarence? Clarence Chung Thank you Traci and good morning everyone. It has been an eventful quarter for the company with strong improvement in the financial performance for our established businesses and the beginning of our new casino operations. Let me share with you some of the highlights. We posted record quarterly gaming revenue. We achieved strong improvement in gaming chips and plague sales and secured a sizable new order. We opened our first Dreamworld development property in May. We began active development of our second Dreamworld projects and we achieved all these while maintaining a healthy cash positions and paying down tax. Total revenues was $7.6 million, up 13% from the second quarter of 2011 driven both of our gaming and other products business divisions. Gaming revenue was $5.2 million up 14% from the second quarter of 2011. Gaming revenue was driven by strong performance for our total operations, formally refers to as our participation business, as well as incremental revenues from our newly opened Casino, Dreamworld Pailin. The average net win for our strong operations was $147 with strong performance in Cambodia and the Philippines. In Cambodia our operations in NagaWorld post impressive net wins of $258 for the quarter. As we benefit from our proactive machine management and target marketing initiatives. Cambodia slot revenues also benefit from our new operations at Thansur Bokor which officially opened May 3, 2012. This flagship property of leading Cambodian Hotelia Sokha Hotel and resort is located in a tourist area of Southern Cambodia. Sokha is still completing certain aspect of the resort such as the VIP gaming areas and the entertainment complex. We believe that these slot operations will be a meaningful contributor to earnings. Once the facility is fully operational and Sokha has implemented it’s broader marketing programs.
In the Philippines, our strategic efforts to maximize performance in these markets continue to play off. These efforts which includes strategic management of machine placements, targeted marketing and extended hours at our most promising venues in these markets have resulted solid FA steady net wins of $72 for the quarter.Dreamworld Pailin, our first casino development property opened on May 9 contributed approximately $213,000 to gaming revenue, for it’s seven week in operations during the quarter. Dreamworld Pailin is located at an important border crossing in growing trade routes between Cambodia and China. The $2.5 million dollar first phase of the property comprises over 16,000 square feet of gaming space including both Poipet floor and special VIP facilities. We expertized the opening within the second quarter initially open to demand market floor of the casino which offers the most expensive range of games in Pialin with 26 tables between popular games such as baccarat, variations of poker, and dice game and an attractive suite of 50 slot machines on the top-tier manufacturers. Dreamworld Pialin operations are in their infancy and we do not believe this results are representative of our future potential. In addition to the solid performance of our gaming operations our other products divisions contributed $2.4 million to revenue, the other product divisions consist of the manufacturer and sale of gaming chips and plaques as well as plastic components brought by nearly for all the automotive industry. Over the last several year, we have made a strategic shift in focus of these divisions towards the higher margin gaming chips and plaque size of the operations. With our comprehensive product lines with state of the art security features, efficient patents for the production capabilities and strong relationships in our target markets in Asia and Australia. We believe we have the potential to meaningfully increase our shares in these niche markets. Read the rest of this transcript for free on seekingalpha.com