Elixir Gaming Technologies to Host Market Update Conference Call and Webcast on Monday, February 25

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” or “the Company”) announced today that it is hosting a conference call and simultaneous webcast at 10:00 a.m. ET on Monday, February 25, 2008.

On February 19, 2008, prior to a management presentation at an investor conference, Elixir Gaming filed a Form 8-K with the U.S. Securities and Exchange Commission which provided an update on its slot machines contracted for placement, the growing number of slot machines that are currently in operation as well as assumptions for net win per day per machine metrics. During the call management will review the Company’s significant progress to date in securing commitments for, and placing, electronic gaming machines on a participation model throughout the Asia-Pacific region as well as other financial and operational successes achieved since the Company’s last conference call on November 14, 2007.

Gordon Yuen, Executive Chairman and CEO of Elixir Gaming, commented, “Elixir Gaming is committed to maintaining an open, regular dialog with the growing number of shareholders and investment professionals that have been tracking the Company’s notable progress since we effected our new business model in 2007. We believe this call will provide all interested parties with a timely update on our current and future prospects for growth.”

The conference call number is 212/346-0104 or 415/537-1885; please call five minutes in advance to ensure that you are connected prior to the presentation. Interested parties may also access the live call on the Internet at www.earnings.com or at www.elixirgaming.com (select “Investor Relations”); please allow 15 minutes to register and download and install any necessary software. Following its completion, a replay of the call can be accessed for thirty days on the Internet at the above noted sites.

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.

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. 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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