New machine participation deal for Elixir Gaming in Cambodia

The company anticipates the full deployment of the 60 gaming machines seats in November 2010 following the completion of the renovations of the designated floor space by the venue owner.

Under the terms of the agreement, Elixir Gaming will have joint control over the operation of all the company’s electronic gaming machine seats, including full audit rights. Elixir Gaming and Grand Golden will share the revenue and marketing costs, at a 30% / 70% split, respectively, and Elixir Gaming will receive on a monthly basis its relevant portion of the daily win in cash. The contract duration is five years commencing once the 60 gaming machine seats become operational.

Clarence Chung, Chairman and CEO, commented, “We are pleased to announce the expansion of our operations in one of our key markets with our new contract with Grand Golden, the owners of which are established gaming operators in the Indo-China region. Given the contracted 60 machines are expected to be sourced primarily from our current inventory, capital expenditures for this project should be minimal.  In addition, we continue to actively pursue additional machine placement opportunities in Cambodia and other new markets.”
 
Also today, Elixir Gaming announced its Dolphin division recently secured an order to supply RFID gaming plaques and chips for Melco Crown Entertainment’s City of Dreams casino resort in Macau.  The order is valued at approximately us$ 340,000.  Elixir Gaming expects to record this revenue in the 2010 second quarter period.  City of Dreams, located in Cotai, opened in June of 2009 and is an integrated urban entertainment resort featuring a 420,000 square foot casino with approximately 520 gaming tables and 1,350 gaming machines.

Clarence Chung, Chairman and CEO, concluded, “We continue to work to unlock the value in our under-exploited Dolphin gaming chip operations.  We are encouraged by the level of interest in our recently developed gaming plaques by existing and new customers and are proud to announce that our first order for this new product is to City of Dreams.”