Entertainment Gaming Asia Proudly Announces the Grand Opening of Dreamworld Casino in the Pailin Province of Cambodia on May ...
May 04 2012 - 9:13AM
Business Wire
Entertainment Gaming Asia Inc. (NYSE Amex: EGT) (“Entertainment
Gaming Asia” or “the Company”), a leading gaming company focused on
emerging gaming markets in Pan-Asia, is pleased to announce the
grand opening of Dreamworld Casino in the Pailin Province of
Cambodia on May 9, 2012. Strategically located at the
Cambodia-Thailand border on a growing trade route connecting the
two countries, Dreamworld Casino in Pailin will welcome mass market
and VIP premium players visiting from the surrounding areas. It
will be the Company’s first casino development project to open and
aims to set a new standard for gaming in this regional market.
The Company is proud to announce that His Excellency Y Chenng,
the Governor of the Pailin Province, will be the guest of honor at
the grand opening ceremony, which will be held at 5:00 p.m. on the
opening day.
Under the exclusive management of the Company, the initial phase
of this $2.5 million internally funded casino offers approximately
12,000 square feet (1,100 square meters) of gaming space including
30 popular table games such as baccarat, roulette, variations of
poker and dice games and an attractive suite of 40 Company-owned
slot machines from top-tier manufacturers. The Company has the
option at a future date to lease approximately 250,000 square feet
(23,000 square meters) of land adjacent to the property for the
development of additional project phases. Such additional phases
are intended to include expanded casino operations and
complementary facilities such as hotel rooms, a spa and other
entertainment amenities.
Clarence Chung, Chairman and Chief Executive Officer of
Entertainment Gaming Asia, commented, “We are proud to announce
that after one year of planning and development, we are opening
what is to be the first of our casino and gaming development
projects in Indo-China. With our operational expertise, quality
gaming offerings, and dedication to the highest level of customer
service, we believe we will redefine the regional gaming experience
in our markets and make strides toward achieving our goal of
becoming a leading developer and operator of casinos and gaming
venues in the region. Further, we seek to be a responsible citizen
within the country and contribute to the growth of its economy. We
are pleased that our gaming operations in Cambodia have created a
total of 600 jobs to-date with another 400 expected by 2013.”
About Entertainment Gaming Asia Inc.
Entertainment Gaming Asia Inc. (NYSE Amex: EGT) is a leading
provider of electronic gaming machines on a participation basis to
the Pan-Asian gaming industry. The Company secures long-term
contracts to provide electronic gaming machines and related systems
to premier hotels and other well-located gaming venues in Asia. The
Company retains ownership of the gaming machines and systems and
receives recurring daily or monthly fees based on an agreed upon
percentage of the net gaming win per machine and provides on-site
maintenance. Entertainment Gaming Asia Inc. is also engaged in the
development and operation of casino resorts and gaming venues under
the “Dreamworld” brand in the Indo-China region. For more
information please visit www.EGT-Group.com
Forward Looking Statements
This press release contains forward-looking statements
concerning Entertainment Gaming Asia within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. Those
forward-looking statements include statements regarding
expectations for the expansion of the Company’s participation
business model, the timeline and working capital requirements for
the Pailin casino project, the near-term earnings of the Pailin
casino project, growth of the gaming industry in the Indo-China
region and the Company’s ability to secure new casino projects and
fund those projects as well. Such statements are subject to certain
risks and uncertainties, and actual circumstances, events or
results may differ materially from those projected in such
forward-looking statements. Factors that could cause or contribute
to differences include, but are not limited to, risks related to
Entertainment Gaming Asia’s ability to place gaming machines at
significant levels and generate the expected amount of net win from
the gaming machines placed, obtain the gaming license and building
permits and complete the development for the casino projects on a
timely basis or at all, identify, procure successfully develop
additional casino projects in the Indo-China region, acquire
additional capital as and when needed and those other risks set
forth in Entertainment Gaming Asia’s annual report on Form 10-K for
the year ended December 31, 2011 filed with the SEC on March 30,
2012 and subsequently filed quarterly reports on Form 10-Q.
Entertainment Gaming Asia cautions readers not to place undue
reliance on any forward-looking statements. Entertainment Gaming
Asia does not undertake, and specifically disclaims any obligation
to update or revise such statements to reflect new circumstances or
unanticipated events as they occur.
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