​EGA posts drop in Q3 gaming revenue | Phnom Penh Post

EGA posts drop in Q3 gaming revenue

Business

Publication date
10 November 2014 | 08:55 ICT

Reporter : Eddie Morton

More Topic

Entertainment Gaming Asia (EGA), a subsidiary of Macau-based gaming giant Melco, posted year-on-year losses at the end of the third quarter on the back of poor player numbers at the company’s NagaWorld operations.

Gaming revenues for EGA, which leases electronic gaming machines (EGMs) on a revenue-sharing basis to NagaWorld and Sokha’s Thansur Bokor Resort, reached $3.96 million during the three-month period ending September 30, down 9 per cent compared with the third quarter in 2013. Gaming operations revenues for the first nine months of 2014 totalled $12.2 million, down 10 per cent.

“The decrease in gaming operations revenue for the third quarter of 2014 was largely due to a decline in revenue from NagaWorld,” Clarence Chung, chairman and CEO of Entertainment Gaming Asia was quoted saying in the statement released Thursday. Chung added that NagaWorld’s renovations had added slight disruptions to EGA’s gaming operations.

“With this floor renovation now complete, our installed machine base and player traffic levels have returned to more normalized levels.”

As of December 31, 2013, EGA was leasing some 670 EGMs to NagaWorld and 180 EGMs at Thansur Bokor, according to the company’s latest annual report.

EGA’s third-quarter financials come after the company in June sold its Dreamworld-branded Pailin casino for $500,000 after writing off an initial investment of $2.5 million in January due to low player traffic.

Contact PhnomPenh Post for full article

Post Media Co Ltd
The Elements Condominium, Level 7
Hun Sen Boulevard

Phum Tuol Roka III
Sangkat Chak Angre Krom, Khan Meanchey
12353 Phnom Penh
Cambodia

Telegram: 092 555 741
Email: [email protected]