Dec. 5, 2008
NEW YORK, Dec 05, 2008 /PRNewswire-FirstCall via COMTEX/ ("Elixir Gaming") announced today they have formed a strategic alliance to address new opportunities in the high-potential gaming market of Cambodia through placements of Global Draw's popular server-based gaming machines at Elixir Gaming sourced venues. Pursuant to this agreement, gaming machines from Global Draw will be placed at venues on a revenue share basis and Global Draw and Elixir Gaming will share in the net win of the machines placed into operation. It is expected that Global Draw and Elixir Gaming will enter into a similar arrangement for the Philippines in the first quarter of 2009.
The first placement of Global Draw machines under this new agreement of approximately 65 Silverball networked gaming machines will be placed in casinos and licensed gaming halls in popular visitor destinations in Cambodia, as sourced by Elixir Gaming, during the first quarter of calendar 2009. In addition to securing new locations for the placement of Global Draw products, Elixir Gaming will provide ongoing marketing and technical support of the installed units.
Global Draw first introduced server-based gaming to the British betting market in the late nineties and has over 13,000 of its popular Silverball and Nevada terminals operating worldwide.
Neil Moir, Director of International Business Development for Global Draw, said: "This new alliance with Elixir Gaming aligns us with the perfect strategic partner to immediately access the South East Asian gaming market, which is the fastest growing gaming market in the world and represents another significant milestone in Global Draw's ability to expand our presence beyond our core market in the UK. Global Draw's unique downloadable, server-based games and services are applicable to all global markets as they allow us to work closely with our customers to increase machine income by making constant changes to our content. We are very pleased to leverage the benefits of Global Draw's unique products with the expertise Elixir Gaming has quickly developed in addressing the Cambodian market through their strong market presence and expanding relationships with venue owners. We expect our exciting level of content and increasing the level of security and flexibility offered by our products will provide immediate benefits to venue owners and their players in these rapidly growing markets."
Elixir Gaming is a leading supplier of technology gaming solutions in its key markets in Asia. Through its growing installation base of over 1,200 electronic gaming machines which are leased to its customers on a participation basis, local market relationships, and operational expertise, Elixir Gaming has established a meaningful presence in the high-potential gaming markets of the Philippines and Cambodia.
Clarence Chung, Chairman and Chief Executive Officer of Elixir Gaming, said: "We are delighted to be working with a company like Scientific Games, and its subsidiary Global Draw, which share our passion for delivering excellence in terms of cutting edge games, technology, and customer service. This agreement provides us with opportunities to ramp up our installed base with value-added networked gaming machines that complement our existing operating units. Importantly, this new alliance is another indication of the progress we are making with initiatives to improve our operating performance as we believe the entertainment value of Global Draw's products will help to deliver incremental net revenues to Elixir Gaming while allowing us to preserve capital for execution on additional growth initiatives."
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