Elixir Gaming Technologies
Further Solidifies Executive Team With New Hirings
Experienced Management and Industry
Executives Enhance Company’s Gaming Venue Technical
Support and Corporate Expertise
LAS VEGAS, Nevada & Macau, March 26,
2008 — Elixir Gaming Technologies, Inc. (AMEX:EGT) (“Elixir
Gaming” or “the Company”) today announced
that it has meaningfully enhanced its executive team with
the recent hiring of a number of experienced management and
gaming industry executives all of whom are based in Asia.
The addition of several gaming industry veterans provides
the Company with an increased level of gaming venue technical
support expertise, while the addition of four high level executives
to the corporate management team strengthens Elixir Gaming’s
finance, legal and human resources capabilities as the Company
continues to execute against its business of placing electronic
gaming machines on a revenue share model throughout Asia.
The Company has also added additional gaming venue technical
support personnel to support the newly appointed senior gaming
executives coordinate the opening of new venues and provide
technical expertise to the operators in order to optimize
venue performance post opening.
Joining Elixir Gaming in senior executive
positions are: Rolando Sanglay as Vice President Projects;
Andy Crisafi as Regional Gaming Director; Loke Beng Hwa as
Cambodia Country Manager; Frank Magpantay as Chief Technician;
Tony Lam as Vice President, General Administration & Human
Resources; Stephanie Wong as Regional Finance Director; Athena
Tse as Business Control Director and Edmond Choi as Vice President,
Legal (Asia).
Gordon Yuen, Executive Chairman and CEO of
Elixir Gaming, commented, “Elixir Gaming continues to
rapidly transform itself as we execute against our business
model to place electronic gaming machines on a participation
model in emerging Asian gaming markets, and we expect to benefit
from the addition of this exceptional group of executives
who bring decades of experience to the Company. The addition
of Rolando, Andy, Loke and Frank to our gaming venue technical
support team allows us to provide our operating partners with
an enhanced level of industry expertise, which is expected
to benefit our customers and Elixir Gaming through improvements
in win per day per machine. In addition, our corporate team
will benefit from the experience and management expertise
that Tony, Stephanie, Athena and Edmond bring to Elixir Gaming.
With the addition of these senior executives Elixir Gaming
now has fortified our management team to support our continued
growth.”
Rolando Sanglay, Vice President Projects,
joined Elixir Gaming from IGT Asia Pacific where he most recently
served as a Senior Project Manager. In this position Mr. Sanglay
was responsible for system and machine installations in the
Asia Pacific Region, including at the recent opening of the
MGM Grand Macau. His primary responsibility at Elixir Gaming
is to serve as a liaison between the Company and venue operators
to ensure new venues come into operation efficiently.
Andy Crisafi, Regional Gaming Director, was
most recently at Sands Macau where he was responsible for
gaming machine selection and floor optimization. Prior to
that Mr. Crisafi was at Star City Casino in Sydney, Australia
for ten years where he was the slot floor manager.
Loke Beng Hwa, Cambodia Country Manager,
brings vital field management experience to the Company’s
gaming venue technical support team. Mr. Beng Hwa has held
casino management positions in Cambodia, Vietnam and the Philippines.
Frank Magpantay, Chief Technician, was with
IGT for ten years prior to joining Elixir Gaming. Mr. Magpantay
brings to the Company a wealth of technical expertise and
years of experience in managing regional technical teams.
Tony Lam, Vice President General Administration
& Human Resources, has an extensive track record of success
in similar positions as a senior executive in companies located
in both the Asia-Pacific and North American regions. He previously
served as Human Resources Director for CDC Corporation, a
NASDAQ listed media and technology company that went through
a period of significant growth related to acquisitions. Mr.
Lam brings to Elixir Gaming a wealth of experience and understanding
in the management of multi-cultural work environments.
Stephanie Wong, Regional Finance Director,
has extensive financial operations experience in the Asia-Pacific
region and was Finance Director - Asia Pacific for US based
technology companies prior to joining Elixir Gaming. In her
prior positions, Ms. Wong was responsible for the financial
reporting of Asia-Pacific offices that were required to report
under U.S. Generally Accepted Accounting Principles. Ms. Wong
received her training as an accountant based in the U.S.
Athena Tse, Business Control Director, has
significant experience with internal control compliance at
a number of multi-national companies and will be primarily
responsible for Elixir Gaming’s Sarbanes-Oxley compliance.
Ms. Tse is an AICPA and began her professional career at PricewaterhouseCoopers.
Edmond Choi, Vice President Legal (Asia),
will be primarily responsible for providing advice and services
to the Company on legal matters, with an emphasis on Asian
business and affairs. Mr. Choi is a qualified lawyer in Hong
Kong. Prior to joining Elixir Gaming, Mr. Choi was with Melco
International Development for 8 years and held the position
of senior legal counsel.
About Elixir Gaming Technologies,
Inc
Elixir Gaming Technologies Inc. (AMEX:EGT) (“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,
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 Technologies (“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 and 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.
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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