Gaming outfit reports loss

12 August 2013
The Phnom Penh Post
Economy and commerce / Industries / Investment / Tourism
Australian aid / Banteay Meanchey / Banteay Meanchey Province / foreign investment / Hong Kong / industry / Investment / Kampot / Kampot Province / Pailin / Pailin Province / Philippines / Poipet / Poipet town / Thailand / Tourism / trade and investment

Entertainment Gaming Asia Inc (EGA), a NASDAQ-listed company that supplies NagaWorld Casino with slot machines and operates casinos in Poipet town and Pailin province, reported a net loss of $385,000 from continuing operations in the second quarter of 2013, according to a statement from the company.

“Quarterly performance benefited from strong contribution from our operations in NagaWorld,” Clarence Chung, chairman and chief executive officer of Entertainment Gaming Asia said on August 8. “However, overall results were negatively impacted by lower revenue and high non-recurring costs for the gaming products division primarily due to the relocation of the manufacturing facilities from Australia to Hong Kong during the quarter and a gross margin loss for Dreamworld Pailin.”

Dreamworld Pailin, which opened in May of 2012 in the eponymous northwest province on the Cambodia-Thai border, saw revenues decline to $907,000 in the second quarter from $1.1 million in the first quarter. …

The $7.5 million Dreamworld Poipet in Banteay Meanchey province that opened in May made small contributions to revenues, according to Chung. …

http://www.phnompenhpost.com/business/gaming-outfit-reports-loss