eflecting these agreements, Elixir Gaming now has total commitments for 3,994 electronic gaming machines to be placed on a long-term participation basis, including 2,164 placements in the Philippines, 930 in Cambodia, 400 in Vietnam and 500 aboard cruise ships. Of the nearly 4,000 placement commitments, approximately 320 electronic gaming machines are currently in operation and the company expects to have a total of approximately 1,500 in operation by December 31, 2007.
The latest commitments for gaming machine placements are at the following venues: 200 at the Cotabato City VIP Club in Cotabato City, Philippines; 100 at the Angkor Paradise Hotel in Siem Reap, Cambodia; 100 at Diamond Hotel in Phnom Penh, Cambodia and 300 aboard the MV Jupiter cruise ship operating out of Vietnam.
Elixir Gaming will have 100% of the gaming machine floor at each of the four venues and receive no less than 20% of the net gaming win from the machines.
The soon to be refurbished Cotabato City VIP Club is located in the heart of Cotabato City. Currently in the midst of a major urban renewal, Cotabato is located 800 miles South of Manila and is the center for trade and finance and cultural services for the province of Mindanao.
The Angkor Paradise Hotel is located in downtown Siem Reap, Cambodia, nestled between the city’s business and entertainment center and the famous temple of Angkor Wat, the country’s prime tourist attraction with over half a million visitors annually.
The Diamond Hotel is located in Phnom Penh’s commercial area, facing Monivong Boulevard, the city’s most important street and located directly across from the city’s central market. Phnom Penh, the capital city of Cambodia and the country’s commercial, political and cultural hub, enjoys a robust international and domestic tourist industry.
The MV Jupiter cruise ship docks out of Vietnam and operates in international waters.
Gordon Yuen, Executive Chairman and CEO of Elixir Gaming, commented, "Our latest agreements for the placement of electronic gaming machines on a high margin recurring revenue basis signal our continued execution against our goal of securing long-term placements across the Asia-Pacific region.”
“The diversity of venues under contract and the pace at which we have been able to secure agreements provide a strong testament to the breadth and depth of the growth potential of the Pan-Asian gaming markets. Elixir Gaming will continue capitalizing on the strength of our business model, the region’s rapid growth and Elixir Group’s excellent market position, presence and reputation. We believe these factors will combine to support our goal of building shareholder value."