Elixir Gaming Technologies secures agreements for an additional 500 gaming machines in four venues in the Philippines and Cambodia

ELIXIR GAMING TECHNOLOGIES PROVIDES MARKET UPDATE

Secures Agreements for an Additional 500 Gaming Machines in Four Venues in the Philippines and Cambodia

Announces Intention to Pursue Earnings Accretive Funding Strateg

Las Vegas, NV & Macau - November 26, 2007 - Elixir Gaming Technologies, Inc. (AMEX: EGT) (“Elixir Gaming” or “the Company”) announces agreements for the placement of an additional 500 slot machines on a participation basis. Reflecting these agreements, Elixir Gaming now has total commitments for 4,494 electronic gaming machines to be placed on a long-term participation basis, including 2,364 placements in the Philippines, 1,230 in Cambodia, 400 in Vietnam and 500 aboard cruise ships.

The latest commitments for gaming machine placements are at the following new venues:

• 200 at the Boracay Beach VIP Club in Boracay, Philippines
• 100 at the Caraba Hotel in Siem Reap, Cambodia
• 100 at the Long Beach Slot Club in Phnom Penh, Cambodia
• 100 at the 27/200 Slot Club in Phnom Penh, Cambodia

Elixir Gaming will have 100% of the gaming machine floor at each of the four venues and receive no less than 20% of the net gaming win from the machines.

The soon to be refurbished Boracay Beach VIP Club is located on the tropical island of Boracay, approximately 200 miles south of Manila. With an excess of 350 beach resorts with more than 2,000 rooms ranging in quality from five-star to budget accommodations, Boracay is one of the country's most popular tourist destinations. Elixir Gaming has secured the first slot club on the island.

The Caraba Hotel is located in downtown Siem Reap, Cambodia, nestled between the city’s business and entertainment center and the famous temple of Angkor Wat, the country's prime tourist attraction with over half a million visitors annually. The Long Beach Slot Club and 27/200 Slot Clubs are located in Phnom Penh’s city center, within a short distance from the Psar Thmei market and many of the city’s major leisure spots. Phnom Penh, the capital city of Cambodia and the country’s commercial, political and cultural hub, enjoys a growing international and domestic tourist industry.

Gordon Yuen, Executive Chairman and CEO of Elixir Gaming, commented, “The Company continues to exceed its initial goals for securing long-term placements of electronic gaming machines on a participation model throughout the Asia-Pacific region. With these agreements for an additional 500 placements, Elixir Gaming now has commitments totaling 4,494 units to be placed at twenty four distinct venues in four markets. The market demand for Elixir Gaming’s services has exceeded our initial expectations and the pipeline for incremental demand is quite strong.”

Joe Pisano, Senior Vice President and Executive Director further commented, “Dozens of technicians from Elixir Gaming, as well as from our leading gaming machine partners and our exclusive casino management system supplier, Progressive Gaming (NASDAQ:PGIC), are on the ground in the Philippines and Cambodia preparing the various venues for full operation before the end of this year. With 320 machines currently in operation at two venues, we anticipate ending 2007 with an installed base of more than 1,500 units.”

The Company’s current 2007 venue roll-out schedule is shown below:

David Reberger, Elixir Gaming’s Chief Financial Officer, commented, “Elixir Gaming is debt free and has a strong financial position with approximately $35 million in cash on hand to fund towards the Company’s significant and rapidly growing pipeline of contracts to place gaming machines on a participation basis across Asia.“

“The Company recently entered into a warrant exchange agreement with Elixir Group Limited, which is subject to shareholder approval at the December 2007 shareholders’ meeting. If approved, this agreement will significantly streamline our capital structure while materially reducing our fully diluted share count. Provided the warrant exchange agreement is implemented, the Company will have approximately 30 million remaining warrants on issue, representing a capital source for the Company amounting to approximately $58 million. As these warrants are included in the Company’s fully diluted share count of 178 million, we are exploring the exercise of these warrants instead of entering into a debt facility as a more favorable and compelling financing alternative. The exercise of the warrants would be non-dilutive and would be an earnings accretive method of financing the Company’s substantial growth prospects.”

Mr. Reberger concluded, “The Company will pursue all alternatives to facilitate the exercise of these warrants directly via the warrant holders or through investors on behalf of the holders to achieve material earnings accretion over alternative debt or hybrid financing options.”

About Elixir Gaming Technologies, Inc

Elixir Gaming Technologies Inc. (Elixir Gaming; 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), provides comprehensive turn-key solutions to 3, 4- and 5-star hotels, cruise ships and other well located venues throughout Asia that seek entry into the casino gaming market. 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 top manufacturers (including IGT and Aristocrat) for the venue, installs the gaming machines and systems, and provides on-site maintenance. Elixir Gaming retains ownership of the gaming machines and systems and receives recurring daily fee revenue under long-term contracts, which is not less than 20% of the net gaming win per machine. The Company has established a strategic presence in the Asia Pacific region with its participation contracts in the Philippines, Cambodia, Vietnam and other Asian markets.

In addition, Elixir Gaming has the capability to quickly and efficiently respond to the stringent and specific technical requirements of customers, in collaboration with Elixir International’s ICT, manufacturing and research and development teams. These services optimize the security, productivity and profitability within the gaming establishments. For more information please visit www.elixirgaming.com.

About Elixir Group

Elixir Group is an important strategic component of Melco International Development Limited’s gaming and leisure entertainment focus. Elixir Group holds the distinction of being a “home-grown” brand: a full-fledged games manufacturer based in Asia – designing, developing and supplying gaming machines and technology solutions (surveillance, LEDs, ATMs) for the Asian market.

With gaming research and development centers in Macau and the Philippines, proximity to key growth markets provides Elixir Group with competitive advantages. As a pioneer in the competitive Asian gaming market, Elixir Group, through its wholly-owned subsidiary, Elixir International, has consistently delivered exciting solutions, expert sales advice and professional gaming support. Elixir International has forged alliances with leading gaming and technology companies and, by accessing its partners’ manufacturing capabilities, is able to focus entirely on innovative product design and customer service. Elixir International has also secured several strategic agreements in the provision of gaming technology infrastructure for various gaming concession holders in Macau.

Forward Looking Statements

This press release report contains forward-looking statements concerning Elixir Gaming Technologies, 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 Technologies, Elixir Group and Elixir International, including the recurring revenue that may develop from the relationship with Elixir Group and/or Elixir International, and the Company’s expectations for future product 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 Group’s inability to place gaming machines at significant levels and risks relating to Elixir Group's ability to place games that generate the expected amount of net-win. Elixir Gaming Technologies cautions readers not to place undue reliance on any forward-looking statements. Elixir Gaming Technologies 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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