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Entertainment Gaming Asia Reports First Quarter 2012 Results and Provides Market Update
- Company Achieves Another Strong Quarter of Financial Performance Driven by Record Gaming Revenue and Average Consolidated Net Win of $154 per Seat --
http://www.marketwatch.com/story/entertainment-gaming-asia-reports-first-quarter-2012-results-and-provides-market-update-2012-05-15
News out. Records broken on all levels.
Back over $1 today. Pre market buying...
HONG KONG--(BUSINESS WIRE)--Tue, May 15, 2012, 8:15AM EDT
Entertainment Gaming Asia Inc. (NYSE Amex: EGT) (“Entertainment Gaming Asia” or “the Company”), a leading gaming company focused on emerging gaming markets in Pan-Asia, today reported operating results for the first quarter ended March 31, 2012 and reviewed recent corporate progress.
Highlights:
New record-high quarterly net income of $1.0 million for the first quarter of 2012, an increase of 41% compared to the first quarter of 2011.
Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and non-cash charges) was $3.2 million, an increase of 6% from the first quarter of 2011.
Total revenue from gaming operations was a record $5.0 million for the first quarter of 2012, an increase of 19% from the first quarter of 2011.
Average consolidated win per unit per day (WUD) reached a new high of $154 for the first quarter of 2012, an increase of 15% from the first quarter of 2011.
As of March 31, 2012, total installed electronic gaming machine (EGM) seats in operation were 1,560 in eight venues, comprised of three venues in Cambodia with a total of 799 seats and five venues in the Philippines with a total of 761 seats.
Gaming chip and plaque sales were $532,000, more than double that of the first quarter of 2011.
Cash balance was $11.7 million as of March 31, 2012 compared to $12.8 million as of December 31, 2011.
Total debt was $4.7 million as of March 31, 2012 compared to $6.2 million as of December 31, 2011.
On May 3, 2012, the Company completed on target the initial installation of 200 EGM seats on a participation basis in Sokha Hotels and Resort’s new five-star Thansur Bokor Resort and Casino in Cambodia.
On May 9, 2012, the Company successfully opened Dreamworld Pailin in Cambodia, its first casino development project.
On May 10, 2012, the Company held the groundbreaking ceremony for Dreamworld Poipet in Cambodia, which is expected to open before the end of 2012.
Conference call is at 8:30 am
Anyone know about what time can we expect the news??
I am so ready bro. This one is JUST too EASY!
Flex
$EGT will bounce strongly from current levels above 1+ dollar.
Eagerly waiting for 1st quarter 2012 results tomorrow.
Record numbers expected tomorrow.
1.75 target next stop.
Buy the dips here for good profits.
Looking for the turn at anytime, I am so ready to RE LOAD by gosh!
flex
EGT, Interesting........From another Board:
This guy is also an Executive Director of MelCo and took the EGT job because he sees himself as the Asian Steve Wynn, circa 1970s.
A lot of folks are starting to agree.
http://people.forbes.com/profile/clarence-yuk-man-chung/28944
My take is $EGT has already seen the bottom in last couple of sessions.
We will slowly start to grind higher in the coming sessions.
Key levels to watch are:
1+ dollar
1.25
1.75
3.25
Tomorrow should be a very good day here.
marirstk - We all have a different view/opinion looking at the same info. EGT we can agree is growing/expanding profitably lest something changes.
On a fun with numbers basis to justify a $3.25 PPS on just slot machines only EGT would need to have ruffly 2,700 machines earning ruffly $200/day. Not there yet but working on it. That IMO will not be till late 2013 or 2014.
What to expect tomorrow from $EGT CC?
Positive Surprise: 30% chance of a new project announcement or something like that. Or even better/record quarterly numbers.
Slightly Better than last quarter (10-20% better QOQ): 60% chance
Same as last quarter: 10% chance (Due to expenses related to opening of Dreamland Pailin Casino)
I recommend all to buy the pullbacks here if you want to make money.
1.75 and 3.25 targets ahead for 2012.
marirstk - Tommorow there is a CC and a 10Q.
Are you expecting a surprize in either or just the expected slight improvement in the 10Q and more confirmation in expantion plans already known?
$EGT bottom is in today.
We will soon see 1+ dollar.
1.25 breakout there after takes us to 1.75 and 3.25 in 2012.
Time will tell how cheap current prices are...
Hi marirstk, tomorrow will tell the story!!!.....
Conference call should be "EyeOpening"......
It appears to be we have a $EGT bottom with todays action.
Couple of days we close higher than 0.80's.
Then blue skies to 1.25 and 1.75 and 3.25 there after.
Price Volume action looks good to me.
Volume is increasing on the way up and decreasing on the way down.
So it says that sellers are done.
Dollar Cost Average $EGT here guys.
We will soon trade over 1+ dollar in the coming sessions.
Just a plain scare tactics to make you sell.
Some one trying to buy cheap.
This happens with any stock on a bull run.
We are testing the break out point at 0.70's
Once we bounce we go higher to 1.75 next stop.
can anyone explain the big drop this morning
Market prices 6-18 Months of developments ahead of time.
Market is in the process of repricing $EGT currently.
$EGT will trade north of 1+ dollar in the coming sessions.
A new trading range will be established in the coming days.
1.75 target will be tested without any doubt in my mind.
Don't fight the tape.
Trend is your friend.
$EGT is undervalued at these price levels.
Two more days and you'll find out ??????.....
Meanwhile......Hold your Jets.......lololol
Happy day,
janet
$EGT: Fundamental Analysis ..
Chart follows the fundamentals of a company.
Not the other way around.
Chart is like a tool to guide us correctly.
Fundamentals of a company triumphs the chart of a company during times like this to determine where the stock price will go next.
Must read for all for $EGT investors.
What happened this week was pure technical correction.
1.75 target is still very much in play.
$EGT is a steal at current prices.
$EGT has 12 million $ in EBITDA/year.
10-15 times EBITDA is the norm.
So it works out to 120-180 million $ in market cap.
Dont forget this debt will be zero by December 2012.
But current EBITDA will go from 12-15 million $ at minimum in 2012.
This gives us 150-225 million dollar market cap for $EGT.
This gives us a price target of 1.75 - 2.00$
We will test these levels at the minimum.
Please do a little bit of background research about $EGT.
$EGT will report awesome numbers on May 15th 2012.
If the numbers from Dreamland Pailin Casino, Sokha Resort, Poippet Slot Machine Deal, Dreamland Kampot Casino turn out better than expected.
I bet the numbers will be lot better than expected.
Target price will be not just 3.25
Way more than that.
$EGT has lot more in the pipeline.
We may very well hear it soon about other potential new projects.
Buy the $EGT dips here guys.
Simply double up.
$EGT will double easily from current levels.
1.75 is the next target to be tested.
No matter how GOOD a stock is........there are ALWAYS Ups and Downs.........
Have a good day,
janet
No more bright colors???????
$EGT: Must read for all for $EGT investors.
What happened this week was pure technical correction.
1.75 target is still very much in play.
$EGT is a steal at current prices.
$EGT has 12 million $ in EBITDA/year.
10-15 times EBITDA is the norm.
So it works out to 120-180 million $ in market cap.
But current EBITDA will go from 12-15 million $ at minimum in 2012.
This gives us 150-225 million dollar market cap for $EGT.
This gives us a price target of 1.75 - 2.00$
We will test these levels at the minimum.
Please do a little bit of background research about $EGT.
$EGT will report awesome numbers on May 15th 2012.
If the numbers from Dreamland Pailin Casino, Sokha Resort, Poippet Slot Machine Deal, Dreamland Kampot Casino turn out better than expected.
I bet the numbers will be lot better than expected.
Target price will be not just 3.25
Way more than that.
$EGT has lot more in the pipeline.
We may very well hear it soon about other potential new projects.
Buy the $EGT dips here guys.
Simply double up.
$EGT will double easily from current levels.
1.75 is the next target to be tested.
$EGT: Iam so glad that others are stepping in restore confidence in the stock.
Thanks reptos and janetcanada.
Please continue your good work here.
That's the spirit reptos!!!.....
All the best to you,
Happy week end,
janet
While it would be nice to see great financials for EGT this week,i'm not too concerned.This is a good long term play,with lots of revenue streams opening up in the next year.The patient will be well rewarded here.It's also turning into a great trader's stock.Best of both worlds .IMHO,of course.:') Happy trading!
I missed out on the mpel ride I will wait for this ride up up up
EGT- I am confortable with the Risk to Reward......and I am buying more every time I have "free" money to do it.....
On several others stocks, I miss out as well and each time regretted having sold. Sometimes it takes time......
IMO, with "this stocks" it is worth to hold and not become Impatient and sell for few dollar profit.....EGT will go up with his own merit....
As I said Long Term for me here!!!
Best of luck to us,
janet
I missed out on the mpel ride I will wait for this ride up up up
EGT it is a long term play for me.......My feeling about are good and I am holding......
I have been in a stock that was not doing so well "TH" I became "tired" and sold it..... but some time later it went way way up and I miss out.....
Happy week end,
janet
Financials released before market opens usually good$$$$$
Is your "Cristalll Ball" telling you financial won't be good ?????......
Lets waith and see......shall we ????.....
I hope the peeps are paying attention.{hint: BUYING OPP.}
If I were a large investorr here,and I thought earnins were bad,I'd do my best to drive up the price and then dump the day before news.If I expected good news,I'd do the reverse.{Help the price go down,then buy it up while it's cheap} What? You didn't think I wanted you to make the money,did you?Scaring the little and less astute players out of their shares is a time proven tactic.
Good time for mpel to up there stake
So looks like the fincnaials won't be good as those with advance knowledge selloff.
Hi NotRichYet2, You are right......
What we do not know is what will be.... going on into the future?????.....
Happy week end,
janet
Well, yes, long term EGT should be worth more than it is at present. Currently though for investors to HOLD the PPS needs to stabilize. Suspect the 10Q next week will not help, only will give a floor from which the company should show improvement in succeeding QTRs. One casino will not make a company with 120m O/S , thats why more are schedualed to be built. For where they are located small is good. Just need a string of them.
Hi tomstock101, if the Co. is good......no matter what is happening at present, it will go UP ON HIS OWN MERIT ????......
Yes BEST of Luck to all of us.......lololol
Wishing a good week end,
janet
P.S. peoples loves Gambling.....Lots of Dreams .....
Gambling on a Gambling Stock, Gotta Love It!! I'm in as well, Best of Luck to all of us "gamblers"
Not looking good for a company thtat is supposed to have increased revenues, new casinos going on line, etc.
Was going to buy more but I might as well wait! The grand opening
didn't help and I don't think earnings on the 15 are going to help
either? We might even go down? Just think it's already been factored
into the price, this is looking like along term play now, to much
hype here with these price predictions makes it look like a pump!
Hi marirstk.......we shall see in three years how good I have been today......lolololol
Sweet Dreams,
janet
Janet..You nailed it perfectly on $EGT investment thesis.
Things are turning around for the good. $EGT is taking off and market is starting to realize this.
2 - 3 - 4 dollars are coming soon.
We don't have to wait 10 years in my opinion.
We will be well rewarded in 2012 itself.
$EGT is undervalued below 1.25 and is not pricing all the positive developments coming to bear fruit in 2012-2013.
2-3 dollars is well within our range in the coming sessions.
Keep adding more on pullbacks like last few days.
You will do very well.
I agree 100% with you janet.
Hi marirstk, the way I see it is what I said to Denise Chanterelle in my P.M.
I was looking into LVS and noticed that in 2009 the Co. went way down as low as $2,00....... Today 3 years later LVS is trading at $52,00 and they are starting now to pay "Dividends".......
Do not know if EGT will do as good as LVS going forward, but IMO and taking in consideration all proportions.....I think that EGT could go withing 3 years to at least well over $10,00 ....actually hoping for more......lolol
Hope not to be wrong...... thats is why I am HOLDING for a long term.........After all Gambling is a HOT BUSINESS..... and I remember when NFLX was at $20,00......and I still regret not having bought then.....
To me, EGT it is worth the GAMBLE !!!.....Time will tell????
Sweet Dreams,
janet
Awesome $EGT post Janet.. Just give it some time.
$EGT will rock in 2012.
I hope you are seeing whats happening to darling stocks of market.
They are all thrashed and ripped in last few days.
Last few days have been bumpy for all stocks not just EGT.
Let the market settle down with its craziness and we would have worked out our overbought in 1-2 days time frame.
The run will resume there after.
1.75 target in place.
I repeat, if you want some quick bucks .. sell and leave.
Else buy the pullbacks and dollar cost average on the pullbacks.
You will be rewarded handsomely.
I am in with average of 0.32
I have not sold a single stock
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About Entertainment Gaming Asia Inc.
Entertainment Gaming Asia Inc. (NYSE Amex: EGT) 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 or monthly fees based on an agreed upon percentage of the net gaming win per machine and provides on-site maintenance. Entertainment Gaming Asia Inc. is also engaged in the development of casinos in the Indo-China region where it intends to own and operate casino resorts under the "Dreamworld" brand. For more information please visit www.EGT-Group.com.
www.EGT-Group.com
About Our Company » Vision, Mission, Values » Contact Us » Gaming Operations » Dolphin Subsidiary » Markets Pailin Project Updates
Senior Management
Team
» Board of Directors » Committee Charters » Code of Ethics » Communication with the Board of Directors
Stock Information
» View Press Releases Archived » Webcasts » Financial Information » Annual Reports » Company Presentation
» Events Calendar » General Information » Request Information » Legal Disclaimer
Contact Us
United States
40 E. Chicago Avenue, #186
Chicago, IL 60611-2026
USA
Tel: (312) 867-0848
E-mail:
tracimangini@EGT-Group.com
Hong Kong
Unit 3705, 37/F The Centrium,
60 Wyndham Street,
Central, Hong Kong
Tel: (852) 3151-8000
Philippines
Unit 31-A, 31/F Rufino Pacific Tower, 6784 Ayala Avenue,
Makati City
Philippines
Tel: (632) 856-6856
Cambodia
Unit 8 & 9 Ground Floor
Hotel Cambodiana North Wing,
313 Sisowath Quay,
Phnom Penh, Cambodia
Tel: (855) 12-832-574
Australia
600 Waterdale Road
Heidelberg West
Victoria, Australia 3081
Tel: (613) 9455-3933
Gaming Participation: Our primary operations currently consist of purchasing and leasing electronic gaming machines on a revenue sharing (participation) basis to the rapidly growing and emerging gaming markets in Pan Asia. Our strategic presence and focus is on Cambodia, where we brand our operations Dreamworld, and the Philippines. We secure long-term contracts to provide electronic gaming machines and related systems to premier hotels and other well-located gaming venues in Asia. We retain ownership of the gaming machines and systems and receive recurring fees or either a daily or monthly basis based on an agreed upon percentage of the net win per machine and provide on-site maintenance.
Casino Development and Operations: Leveraging our market expertise and the "Dreamworld" brand from our gaming machine participation operations, we intend to expand our gaming operations and become an owner and operator of our own regional casinos under our "Dreamworld" brand in select emerging markets in the Indo-China region. This approach allows us the potential for higher long-term incremental returns on our operations given the ability to collect up to 100% of the net win of our gaming stations. In addition, it provides us greater long-term control of our operations.
Currently, we have secured three casino projects in Cambodia. Two of these project are located near the Vietnam border in the provinces of Kampot ("Kampot Project") and Takeo ("Takeo Project"). The third project is located in Pailin ("Pailin Project") near the Thailand border.
The Kampot Project
The Kampot Project will be developed under a joint venture company on over 100,000 square feet of land strategically located near one of southern Cambodia's busy border crossing checkpoints with Vietnam. One of a few gaming establishments in the area, the casino will cater to visitors from several major metropolitan areas in the region.
The casino is expected to include table games such as baccarat, roulette and dice games as well as electronic gaming machines. The initial phase of the casino is expected to be opened in the second quarter of 2012 with up to 14 table games and 25 electronic gaming machine seats. Subsequent development phases could, depending on market demand, include additional casino floor space and equipment as well as complementary facilities such as hotel rooms, a spa and other entertainment amenities.
Architectural Rendering of Initial Phase of the Kampot Project
The Pailin Project
The Pailin Project will be located on a growing trade route with solid infrastructure between Cambodia and Thailand (approximately four hours from Phnom Penh and three hours from Bangkok by car). It will cater to mass market and premium players from the major nearby cities in the region and will be one of a few existing casinos in the area and the closest to the border checkpoint.
The casino is initially intended to include approximately 23 table games and 40 electronic gaming machine seats. The initial phase is expected to open in the second quarter of 2012, subject to the timely issuance of the required gaming license and construction permits. While the initial phase of the casino will have a footprint of approximately 15,000 square feet, we have the opportunity to lease at a future date the adjacent land to develop additional phases of the project. Such additional phases are intended to include expanded casino operations and complementary facilities such as hotel rooms, a spa and other entertainment amenities, which could expand the footprint of the project to over 170,000 square feet.
The Takeo Project
The Dreamworld Casino and Resort will be strategically positioned on seven acres of land we have purchased near a border crossing station and on the national highway that connects the capital city of Phnom Penh with several major cities in southern Vietnam. The Dreamworld Casino and Resort is expected to cater to visitors and tourists in the area, which includes the capital city of Phnom Penh and several major cities in southern Vietnam with a combined estimated population of approximately 18 million people. In addition, as a further attraction to the area, the casino hotel will be located near an existing duty free trading zone that houses a large shopping facility as well as a famous temple that attracts over one million visitors annually.
The project timeline and development plans for the Takeo Project are currently under review pending the outcome of negotiations of other potential projects in the pipeline, which could offer higher projected short-term returns.
We continue to actively build a pipeline of new potential projects in the region to achieve our growth objectives and our goal of becoming a leading operator of regional casinos in the Indo-China region.
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