Entertainment Gaming Asia 15Q1 revenue soars 76 percent

Entertainment Gaming Asia said its revenue soared 76 percent in 15Q1, helped by increases in both the gaming operations and product businesses.

The total was $8.3 million compared with $4.7 million a year earlier.

Gaming operations revenue was $4.0 million for the first quarter of 2015, an increase of 3 percent compared to $3.9 million in the first quarter of 2014 due to improvement in the Cambodian operations partially offset by a decline in the Philippine operations.

Average consolidated daily net win per unit was $108 for the first quarter of 2015, an increase of 7 percent compared to $101 in the first quarter of 2014 due to the higher revenue and a 4 percent reduction in the total operating machine base.

It reported income of $571,000, compared with a loss of $1 million a year earlier.

“We are focused on continuing to improve our operating performance and securing new projects that will drive long-term growth and earnings visibility for the company,” chairman and CEO Clarence Chung said. “With a cash position of over $20.0 million and as an indirect, majority-owned subsidiary of Melco International Development Limited, a leader in Asian gaming, we believe we have greatly enhanced our financial flexibility and improved our access to a broader pool of potential growth opportunities in growing gaming markets in Asia. We are actively seeking new projects that would further enhance our existing business lines and provide the opportunity to add new ones.”

 

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