HONG KONG--(BUSINESS WIRE)--Elixir Gaming Technologies, Inc. (NYSE Amex: EGT) (“the Company”), a leading provider of electronic gaming machines on a participation basis to the Pan-Asian gaming industry, today announced it has changed its name to Entertainment Gaming Asia Inc. The Company’s shares will continue to trade under the ticker “EGT”. In addition, the Company launched today its new corporate website at www.EGT-Group.com.
Clarence Chung, Chairman and Chief Executive Officer of Entertainment Gaming Asia Inc., commented, “Given the material transformation of the Company following the restructuring of our operations over the past two and one-half years, we felt that a name change was appropriate. The name Entertainment Gaming Asia more suitably reflects our expanded gaming business model, particularly in relation to our plans to build and operate our own hotel casino in the Indo-China region to complement our existing electronic gaming machines participation business.”
About Entertainment Gaming Asia Inc.
Entertainment Gaming Asia Inc. (NYSE Amex: EGT), formerly known as Elixir Gaming Technologies, Inc., is a leading provider of electronic gaming machines on a participation basis to the Pan-Asian gaming industry. The Company secures long-term contracts to provide electronic gaming machines and related systems to premier hotels and other well-located gaming venues in Asia. The Company retains ownership of the gaming machines and systems and receives recurring daily fees based on an agreed upon percentage of the net gaming win per machine and provides on-site maintenance. Entertainment Gaming Asia Inc. also holds a casino license in Cambodia and intends to build and operate Dreamworld Casino and Resort, a casino hotel in the Takeo Province near the Vietnam border. For more information please visit www.EGT-Group.com.
Forward Looking Statements
This press release contains forward-looking statements concerning Entertainment Gaming Asia, formerly known as Elixir Gaming Technologies, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those forward-looking statements include statements regarding expectations for the business of Entertainment Gaming Asia, its working capital requirements and future revenue and profitability, the project schedule for its Dreamworld Casino and Resort and Entertainment Gaming Asia’s ability to fund the Dreamworld Casino project. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, risks related to the costs incurred by Entertainment Gaming Asia in defending shareholder litigation and the outcome of any judgment or settlement with respect to such litigation, Entertainment Gaming Asia’s inability to place gaming machines at significant levels, whether the gaming machines placed generate the expected amount of net win, Entertainment Gaming Asia’s ability to successfully execute its plans to build and operate a casino hotel, the ability of Entertainment Gaming Asia to acquire additional capital as and when needed, the ability of Entertainment Gaming Asia to collect revenue and protect its assets and those other risks set forth in Entertainment Gaming Asia’s annual report on Form 10-K for the year ended December 31, 2009 filed with the SEC on March 30, 2010 and subsequently filed quarterly reports on Form 10-Q. Entertainment Gaming Asia cautions readers not to place undue reliance on any forward-looking statements. Entertainment Gaming Asia does not undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.