Leading Asian Gaming
Companies Enter into Cooperation Agreement
Experienced Management and Industry
Executives Enhance Company’s Gaming Venue Technical
Support and Corporate Expertise
Las Vegas, NV & Macau – February
22, 2008 - Elixir Gaming Technologies, Inc. (AMEX:EGT) (“Elixir
Gaming”) and AsianLogic (ALOG LN) (“the Companies”)
today announced that the parties have entered into an Asia-wide
co-operation agreement in the gaming machine and server based
gaming sector. The Companies intend to collaborate on marketing
efforts, distribution agreements, game content, gaming software,
server based gaming experience, manufacturing and additional
gaming technology.
Elixir Gaming’s principle focus is
placing gaming machines on a revenue share basis in Asia and
has rapidly established a strong presence in the Philippines,
Cambodia, Vietnam and other Asian markets. The Company now
generates revenues from approximately 1,200 gaming machines
placed on participation around the Asia-Pacific region and
has a rapidly growing pipeline of gaming machines contracted
to be placed on participation that currently stands at over
4,500 gaming machines. The Companies maintain a significant
physical presence in Macau and the Philippines, whilst Elixir
Gaming has expanded its physical presence into Cambodia and
Vietnam.
AsianLogic operates online casinos and peer-to-peer
(P2P) game platforms across the Asia-Pacific Region. In addition,
it operates land-based sports betting outlets in the Philippines
distributes leading gaming content, software and systems.
Elixir Gaming’s Executive Chairman
and CEO, Gordon Yuen, commented, “Elixir Gaming has
within a matter of months established itself as the market
leader in the gaming machine participation business across
Asia. We are pleased to partner with AsianLogic, giving us
access to additional games, gaming software, server based
gaming experience and some unique offerings which we believe
will enhance net win at our existing and future outlets as
well as further strengthen our leading strategic position
in Asia. We recognize that AsianLogic, in conjunction with
its software providers such as Playtech and Videobet, understands
the importance of cross marketing, database mining and gaming
across multiple platforms such as land-based, online and mobile.
We are confident that through combining the two strengths
of the organizations we will continue to offer the leading
and optimal revenue generating products to gaming venue operators
across the Asia-Pacific region.”
Tom Hall, AsianLogic’ s Vice Chairman,
added, “The explosive growth of the slot market industry
in Asia has makes compelling logic for us to formally partner
with Elixir Gaming as they are the clear market leader in
this space. The senior management of Elixir Gaming has many
years of experience in the Asian gaming industry and the Elixir
Group is widely recognized in the gaming industry in Asia
for its industry leadership and distribution capabilities.
Further, Elixir International, a strategic partner of Elixir
Gaming, has a research and development team that has developed
and manufactured what in our opinion is the best slot machine
cabinet currently available. It has been designed to support
both the traditional slot machine model as well as the developing
server based gaming models. While we fully understand the
gaming software and games content industries and represent
some of the leading products in Asia, we were struggling somewhat
on the physical machine development and ongoing support. By
entering into this co-operation agreement with Elixir Gaming,
we can delegate this critical side of the business to the
Elixir Group and focus on rolling out games and gaming concepts
utilizing both of our distribution channels.”
About Elixir Gaming Technologies,
Inc
Elixir Gaming Technologies Inc. (“Elixir
Gaming”) is a member of Elixir Group, an innovator of
gaming technology solutions and a wholly owned subsidiary
of Melco International Development Limited. Elixir Gaming’s
strategic partner, Elixir International (which is a wholly
owned subsidiary 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 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.
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
game 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.
About AsianLogic
AsianLogic is a leading online and land-based gaming company
focusing on the Asia-Pacific markets. The Company owns and
operates eight online casino brands and two online poker rooms
as well as land-based sportsbook operations through its MegaSportsWorld
brand. It is a specialist in Asia-specific games such as Mahjong,
Cho-Da-Di, Do-Di-Zhu and 13 Card Poker.
The Company also maintains a corporate advisory
team specialising in the gaming sector which is an active
investor in gaming-related businesses as well as providing
consultancy and analytical services. AsianLogic enjoys strong
commercial relationships with leading gaming providers including
Playtech, ID Games and LVS. Founded as ESL in 2002, AsianLogic
employs over 300 employees, the majority of whom are based
in the Philippines.
Forward Looking Statements
This press release report contains forward-looking statements
concerning Elixir Gaming Technologies (“Elixir Gaming”)
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 and Elixir International,
including the recurring revenue that may develop from the
relationship with Elixir Gaming and Elixir International,
and 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 relating 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.
Those forward looking statements also include statements regarding
expectations for the business relationship between Elixir
Gaming and AsianLogic including the potential for this relationship
to enhance the revenue of Elixir Gaming. Factors that could
cause or contribute to differences include, but are not limited,
to risks related to as to whether Elixir Gaming and Asian
Logic enter into a formal co-operation agreement and the market
competitiveness of the proprietary products of Elixir International
and AsianLogic. 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 FOR ELIXIR GAMING:
Richard Land, Dave Jacoby
Jaffoni & Collins Incorporated
212/835-8500; egt@jcir.com
CONTACT FOR ASIANLOGIC:
Tom Hall, Executive Vice Chairman
AsianLogic
+852 9037 3749
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