Macau-based gaming supplier LT Game Ltd forecasts sales to overseas markets will reach 60 percent of the company’s revenue in 2015, says company boss Jay Chun.
“The growth phase will start next year. Around 60 percent of the revenue will come from overseas,” Mr Chun told GGRAsia.
Around 80 percent of the company’s revenue currently comes from sales to Macau casinos, Mr Chun said.
The company started to sell its products overseas last year. Mr Chun said the main focus for LT Game is the United States and Australia.
Hong Kong-listed Paradise Entertainment Ltd, the parent of LT Game, announced last month that LT Game recently deployed an additional 34 Live Multi Game terminals at the Wynn Macau casino-hotel, bringing the total number of terminals there to 80. The same announcement said LT Game had supplied 50 terminals to MGM Macau, raising its total to 109 terminals.
LT Game also deployed 172 Live Multi Game terminals at the Macau Jockey Club casino, which reopened last month. The casino is managed by LT (Macau) Ltd, a subsidiary of Paradise Entertainment that already provides similar casino management services to Casino Kam Pek Paradise, Waldo Casino and the Live Multi-Game terminals zone at the Lisboa Casino.
Mr Chun, who is also the chairman and chief executive of Paradise Entertainment, said LT (Macau) continues to look for more opportunities to provide casino services. “Basically, I want both subsidiaries grow,” he stated.
But Mr Chun said LT (Macau) is not looking to expand to other markets. “We just focus in Macau. We don’t have an intention [to expand] outside of Macau yet,” he said.
LT Game is currently engaged in a patent fight against SHFL Entertainment (Asia) Ltd, a subsidiary of Bally Technologies Inc, over patents for multi-terminal systems combining electronic betting with a live dealer and live baccarat. Mr Chun said the case is still ongoing. “We leave that question to the court.”
The patents are used by LT Game’s Live Multi Game terminals, its most popular product. LT Game claims it has the only patented multi-terminal betting system for live baccarat available in Macau. the segment is growing rapidly in the city due to the government restrictions regarding the number of live tables and the consequent inflation in minimum bet prices on traditional live dealer tables.
Bally said in a press release on March 20 that it had been notified on March 13 by Macau’s Public Prosecutions Office that there was no evidence that SHFL (now part of Bally) “infringed either of the two patents that LT Game Limited Macau, LT Game Limited Hong Kong, and Paradise Entertainment…alleged that it had infringed”.
Bally stated: “Contrary to the many failed allegations lodged by LT Game, no court in Macau has found SHFL guilty of or liable for any patent infringement.”
The press release added: “We were vindicated in July 2013 on a similar issue with an acquittal by the Macau First Instance Court and are confident that we will continue to be vindicated in any appeal by LT Game.”
Meanwhile LT Game stresses that it offers not only its live multi-game product but also utilities and casino systems. Later this year, it will start selling chipless e-baccarat tables with a live dealer. The product is already available at the Jockey Club casino and was displayed at the Global Gaming Expo (G2E) Asia trade show, which took place in Macau last month.
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”We believe the positive stance from China towards Macau would help market sentiment in the near term despite limited short term benefit to the [casino] gross gaming revenue”
Kenneth Fong, Lok Kan Chan and Rebecca Law
Analysts at Credit Suisse