Elixir Gaming Technologies Names Traci Mangini Senior Vice President for Corporate Finance

Former Wall Street Gaming Industry Analyst to Head Investor Relations

Las Vegas, NV & Macau – May 12, 2008 – Elixir Gaming Technologies, Inc. (AMEX:EGT) (“Elixir Gaming”) announced today that Traci Mangini has been named Senior Vice President Corporate Finance, a new position at the Company.  In her new role, Ms. Mangini will report directly to David Reberger, Elixir Gaming’s Chief Financial Officer.  The appointment is effective from Monday June 9, 2008.

At Elixir Gaming, Ms. Mangini will manage and expand the Company’s comprehensive worldwide financial community and shareholder communications program and financial functions, including fiscal and SEC reporting, corporate analysis and merger and acquisition strategy.  Ms. Mangini will work with Mr. Reberger and the Company’s investor relations firm, Jaffoni & Collins, to develop further awareness and understanding of Elixir Gaming’s operations and growth opportunities among a broad group of constituents including institutional and retail investors, analysts and the media.

Ms. Mangini most recently worked at ThinkPanmure where she was a Partner and senior research analyst responsible for coverage of companies in the domestic and international gaming sector including Cash Systems, Inc., Elixir Gaming Technologies, Fortunet, Inc., Gametech International, Inc., Gaming Partners International Corporation, Gigamedia Limited, Monarch Casino & Resort, Inc., Progressive Gaming International and WPT Enterprises, Inc.  Prior to joining ThinkPanmure in 2003, she was a Vice President and Research Analyst at Merriman Curhan Ford & Company and at First Security Van Kasper (Wells Fargo Securities), where she covered consumer companies.  She began her career at Montgomery Securities in 1997.

David Reberger commented, “Traci is an ideal candidate to lead our worldwide shareholder communications efforts while adding increased depth to our financial reporting and analysis department.  As a former highly regarded gaming company analyst, she brings excellent analytical and communications skills, a deep understanding of Elixir Gaming’s strategies and prospects, strong institutional investor relationships and in-depth knowledge of the worldwide gaming markets to this new position. 

Our business model and activities are generating increasing interest from the financial community and the investing public.  As such, we welcome Traci to the Elixir Gaming team as we work to increase our interaction and contact with the financial community.”

Traci Mangini earned a Master of Science in Quantitative Analysis from Boston University and received her BA in Finance from the University of San Diego.

About Elixir Gaming Technologies, Inc.

Elixir Gaming Technologies Inc. (AMEX:EGT) is a member of Elixir Group, an innovator of gaming technology solutions and a wholly owned subsidiary of Melco International Development
Limited. Elixir Gaming, in collaboration with Elixir International (which is also a member of Elixir Group), secures long-term contracts to provide comprehensive turn-key solutions to 3, 4 and 5 star hotels, cruise ships and other well-located venues throughout Asia that seek to offer casino gaming products.  Elixir International assists the venue and venue owner with the licensing and regulatory process, physical casino design, construction management, slot and game floor design layout, purchases the gaming machines and systems from the industry’s leading gaming equipment suppliers and installs the gaming machines and systems such that the casino is delivered in a fully operational state.  Elixir Gaming retains ownership of the gaming machines and systems and receives recurring daily fee of at least 20% of the net gaming win per machine and provides on-site maintenance.  The Company has established a strategic presence in the Asia Pacific region with participation contracts in the Philippines, Cambodia, Vietnam and other Asian markets. For more information please visit www.elixirgaming.com.

Forward Looking Statements

This press release contains forward-looking statements concerning Elixir Gaming, Elixir Group and Elixir International 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 relationship between Elixir Gaming, Elixir International, including the recurring revenue that may develop from the relationship with Elixir International, and the Elixir Gaming’s expectations for future revenue.  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 Elixir International’s inability to place gaming machines at significant levels, risks related to whether the gaming machines placed generate the expected amount of net-win and risks related to the ability of Elixir Gaming to collect revenue and protect its assets and those other risks set forth in the Company’s filings with the Securities and Exchange Commission.  Elixir Gaming cautions readers not to place undue reliance on any forward-looking statements.  Elixir Gaming does not undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. 

CONTACT:    
Richard Land, Dave Jacoby
Jaffoni & Collins Incorporated                                             
212/835-8500; egt@jcir.com

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