ccording to the information released by the company, the machines have been placed on a participation basis at the following properties: 200 at the Paco Park Oasis Hotel in Manila, Philippines and 200 at the Macau Club in Phnom Phen, Cambodia.
The recently refurbished Paco Park Oasis Hotel is located beside Manila’s historic Paco Park, close to the popular Malate shopping, bar and restaurant district in the heart of the Philippine capital of metro Manila. The Macau Club is located in the capital city of Cambodia, Phnom Penh, the largest, most populous city in Cambodia that enjoys a significant global and domestic tourist industry and serves as the country’s commercial, political and cultural hub.
Elixir Gaming will have 100% of the gaming machine floor in both venues and receive no less than 20% of the net gaming win from the machines. Both gaming facilities are scheduled to open in first quarter 2008. Reflecting these agreements, Elixir Gaming now has total commitments for 3,294 electronic gaming machines to be placed on a long-term participation basis, which exceeds the Company’s previously provided 2008 year-end target of 3,000 devices.
Gordon Yuen, Executive Chairman and CEO of Elixir Gaming, commented, "The addition of these two new facilities is consistent with our demonstrated model of securing long-term placements of electronic gaming machines on a recurring revenue basis at some of the most attractive locations in the fastest growing areas of the Asia-Pacific region.”
“With agreements for the placement of 400 additional machines in the Philippines and Cambodia, we have surpassed our initial 2008 year-end guidance of 3,000 units in a matter of a few months. Within this short period Elixir Gaming has clearly established itself as the largest buyer of gaming machines - outside of Macau - throughout Asia," he concluded.