Supplier News
Cambodia – Entertainment Gaming Asia signs two deals with LT Game
By Phil - 1 October 2013
Pan-Asian casino group Entertainment Gaming Asia has signed agreements with gaming equipment supplier LT Game Limited, a supplier of electronic multi-game machines and equipment in Macau and the Asia Pacific region, to help facilitate the refocusing of the company’s Dreamworld Pailin casino operations in Cambodia.
As part of its previously-announced efforts to refocus its operations and streamline costs for Dreamworld Pailin casino in Cambodia, the company entered into a machine participation agreement with LTG who will supply, install and provide maintenance for 30 electronic gaming machine seats on a revenue sharing basis. The LTG gaming offering will consist of semi-live electronic baccarat and roulette table games. Under the terms of this agreement, Dreamworld Pailin and LTG will share in the gross net win before tax from these machines on an 85 per cent/15 per cent respective basis. The contract term is five years commencing with the live operation of the machines, which is expected to occur in October.
In addition, the company has signed a distribution agreement with LTG which grants the Company the exclusive right to market and sell LTG gaming products to designated casinos and gaming venues within Cambodia, Vietnam and the Philippines. The initial duration of the agreement is six months in Cambodia and Vietnam and one year in the Philippines. Subject to the achievement of certain sales targets, the Company is entitled to renew the agreement for successive one year periods under the same terms.
Clarence Chung, Chairman and Chief Executive Officer of Entertainment Gaming Asia, said: “We are delighted to be able to offer the LTG range of products in our markets and expand our gaming product mix beyond our extensive line of Dolphin gaming chips and plaques. We are excited about the potential derived from combining our market knowledge, relationships and resources with LTG’s innovative gaming products. With the ability to fully leverage our relationships and existing infrastructure in both Indo-China and the Philippines, this agreement provides the opportunity for incremental revenue, which should directly impact the bottom line.”
Jay Chun, Chairman of LTG added: “We are pleased to work with Entertainment Gaming Asia. With their relationships and market presence, they are a natural fit for our expansion efforts. We look forward to building on the success we have experienced in Macau in these new markets.”
