Aug 07, 2014 Newsdesk Latest News, Rest of Asia, Top of the deck  
Nasdaq-listed Entertainment Gaming Asia Inc, a company linked with Hong Kong-listed casino investor Melco International Development Ltd, reported second quarter revenue of US$4.9 million, down by 5 percent from US$5.2 million a year earlier. The fall was “due to a decline in gaming operations revenue partially offset by an increase in gaming products sales,” it said in a filing on Thursday.
Entertainment Gaming Asia is a gaming company focused on the emerging gaming markets of Asia. It operates slot machines on a participation basis and also supplies gaming chips and plaques to casinos.
The company reported adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$2.1 million in the second quarter, down from US$2.3 million in the prior year period.
Entertainment Gaming Asia posted a net loss of US$22,000 in the three months to June 30. It said the net loss included a net loss of US$239,000 from the discontinued Dreamworld Pailin operations. Excluding this item, the company would post net income from continuing operations of US$217,000, it added. This compared to a net loss of US$286,000 for the second quarter of 2013.
In June, Entertainment Gaming Asia announced it was selling its assets in Cambodia. The Cambodia-based unit, Dreamworld Leisure (Pailin) Ltd, owns Dreamworld Pailin, a casino with 26 gaming tables in the Pailin province of northwestern Cambodia. It also operates Dreamworld Poipet (pictured), a standalone slot hall in an existing casino in Poipet.
The transaction is expected to close in the “next few months”, Entertainment Gaming Asia said in Thursday’s statement.
“Gaming operations revenue comprised solely slot participation as the company ceased operations of its Dreamworld Pailin casino on June 1, 2014,” it added.
Gaming operations revenue for the quarter was US$4.4 million, dropping by 12 percent from a year ago.
“The decline was primarily due to lower average daily net win per unit from NagaWorld, which experienced higher jackpots in the second quarter of 2014, partially offset by improved revenue from Dreamworld Poipet,” it said.
NagaWorld, operated by NagaCorp Ltd, is Cambodia’s largest casino complex and the only in capital Phnom Pehn. On Wednesday, the casino operator had said revenue from electronic games fell by 6.4 percent in the second quarter of 2014 to US$41.2 million.
Entertainment Gaming Asia said revenue from gaming products was US$524,000 in the second quarter of 2014 compared to US$162,000 in the year ago period.
“We continue to selectively seek both slot participation and casino development projects in more established markets in Indo-China and other growing gaming markets in Asia, which offer the potential for greater operational scale and returns,” Clarence Chung, chief executive of Entertainment Gaming Asia, said in the statement.
Jun 01, 2023
May 25, 2023
Jun 02, 2023
Jun 02, 2023
Jun 02, 2023
Genting Singapore Ltd says Lam Yi Young has resigned from his role as deputy chief executive of Resorts World at Sentosa Pte Ltd. The latter firm is an indirect wholly owned subsidiary of Genting...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
US$8.1 billion
Macau’s casino gross gaming revenue in the five months to May 31