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Malaysian casino operator Genting Bhd has said it
does not expect costs to rise above current
estimates of US $4.4bn for the casino resort it is
building on Singapore's island of Sentosa. Costs
have already risen by 15 per cent more than its
initial budget, due mainly to higher construction
Resorts World won’t cost more
expenses. “Concerns about cost over-runs for the
than US$4.4bn
project are unsubstantiated,” Lim Kok Thay,
Genting's chairman said.
Elixir boosted
by installs at
expects EBITDA
13 venues
of up to US$6m
Elixir Gaming’s 2008 first quarter
from IGT deal
total revenues of $2.9m repre-
sented a decrease of $0.5m when
compared to total revenues of
$3.4m for the first quarter of 2007.
For the first quarter of 2008,
Casinolink and server based slot gaming could be a match made in
Progressive Elixir Gaming reported a net loss
Gaming’s Russel
heaven for Progressive Gaming who hopes that joining its systems
of $5.3m.
Elixir Gaming now has installs
module with IGT’s NexGen displays could see EBITDA of $US6m. at 13 venues with a total of 1,517
electronic gaming devices cur-
lookingforward tionality by the end of 2009 and Systems revenues reached base as of March 31, 2007. The such as Europe, Asia and rently in operation, compared
PROGRESSIVE GAMING believe that conversions will $15.2m for the quarter ended 793 table management systems Canada. Additionally, we have with three venues with a total of
accelerate in 2010 and beyond,” March 31, 2008 from $14.7m installed during the first recently expanded into Latin 415 electronic gaming devices
Having recently entered into he said. “We expect approval in the same period a year ago. quarter represents 25% of the America where we currently at December 31, 2007.
an important agreement with for the NexGen displays for The slot management expected 2008 full year table have $3m of backlog in con- Its current installs comprise
IGT that provides significant Casinolink in 2009 and antici- systems installed base as of management system installa- tracts year-to-date with signifi- three venues in the Philippines,
new revenue opportunities, pate that the initial EBITDA March 31, 2008 was 80,573, tions of 3,160 systems. cant future potential in this nine venues in Cambodia and
systems solutions specialist benefit from this agreement representing year-over-year McMeekin said: “Our 2008 rapidly growing region. one in Vietnam.
Progressive Gaming Interna- could range between $4m to growth of 29 per cent, or first quarter systems installa- “We continue to focus inter- Having expanded its executive
tional believes that joining $6m for the full year.” 18,298 systems. Progressive tion growth is consistent with nal resources on advancing the team to support operating growth
IGT’s sb NexGen displays with McMeekin believes that inte- installed 4,234 slot manage- our expectations in what is his- capabilities of our systems solu- through appointments of experi-
its Casinolink module will grating IGT’s sb NexGen dis- ment systems in the first torically our seasonally slowest tions, as in doing so we enced gaming and technology
boost EBITDA by up to $US6m plays and related applications quarter of 2008, or approxi- period. We remain on plan and enhance the potential return industry personnel in finance,
in the first year of the deal. with Casinolink would create mately 17 per cent of its expect to achieve our full year on investment for our cus- legal and human resources and
Progressive president and ‘the most comprehensive expected full year total of revenue, systems installations tomers that deploy Casinolink added gaming venue technical
CEO Russel McMeekin said server based systems technol- 24,261, which would repre- and gross margins targets. Since and Table iD, while simultane- support expertise, the group feels
that the company had already ogy available in the industry.’ sent expected full year growth positioning the company in ously creating new or it is well positioned.
received strong initial cus- The prediction came follow- of approximately 32 per cent 2007 to focus exclusively on enhanced revenue opportuni- As of March 31, 2008, the
tomer interest for the imple- ing Progressive’s latest quar- and a sales increase of 19 per the high-margin revenue ties for the company. We antici- company had $46.7m in cash on
mentation of IGT’s sb terly results which saw steady cent level from the first opportunities associated with pate the Casinolink Jackpot hand. Shares, however, tumbled
NexGen displays. growth in the first quarter of quarter of 2007. our slot and table management System module of our Casino- to a 52-week low after the
“We expect to penetrate 2008 with a revenue increase The installed base of table systems offerings, we have sig- link Enterprise system to be announcement of the first-quarter
approximately 15 per cent of of three per cent or management systems as of nificantly and consistently available for commercialisa- loss widened partly on higher
our current Casinolink installed US$500,000 in its systems, now March 31, 2008 was 6,533, increased the penetration of tion in Nevada later this selling, general and administra-
base with this enhanced func- the sole component of sales. more than double the installed these products in key markets month,” he added. tive expenses.
Analyst Todd Eilers of Roth
Capital Partners said in a client
note that the Las Vegas-based
Bally posts record quarter
company's participation revenue
continues to disappoint on lower-
than-expected “slot win” per day
results - the amount it takes in from
recordbreaker Future technologies and vision highlighted by new slots daily and said conditions will
BALLY TECHNOLOGIES customer contracts and demand for our iVIEW likely not get better near term.
network that delivers interactive player content.” Gordon Yuen, executive chair-
The effects of any credit crunch certainly hasn’t hit “Our gaming equipment division shipped over man and CEO of Elixir Gaming,
high flying Bally Technologies which was breaking 7,300 sale units in the current quarter, which included said: “Elixir Gaming is making
records in its third quarter posting close to a five-fold a significant number of sale units delivered to a major significant progress in establish-
rise in quarterly profit, beating market estimates. domestic lottery that were not recognised in revenue ing a leading market presence
Driven by higher sales of its gaming equipment in the current quarter,” said Gavin Isaacs, the company’s throughout Pan-Asian gaming
and systems Bally has narrowed its 2008 earnings COO. “We are pleased with our steady increase in markets. Since the commence-
view for the year. For the three months ended March North America ship share, our ability to leverage our ment of the company’s new busi-
31, Bally posted record revenue of $232.6m whilst broad product portfolio for Class III, Class II, and “Our third quarter results continue to show the ness model in September 2007,
for the nine months leading up to this date its rev- central-determination markets, and the growth of improvements in our operating leverage,” said Robert Elixir Gaming has placed gaming
enues were $652.3. international units to 25 per cent of our total sale units Caller, the company's chief financial officer. “Our machines in 13 operating venues
Richard Haddrill, the company's chief executive in the current quarter. We attribute this success to our operating income increased to 24 percent of revenue across three Asian countries. At
officer, said: “The continued momentum in all of our investments in game content and our recent invest- from 10 percent in the comparable period last year this time, our primary focus is on
technology businesses drove record third-quarter ments in our international infrastructure.” and from 20 percent in the December 2007 quarter working closely with venue
earnings. Another strong systems quarter reflects the Total revenues increased 33 percent to $232.6m as despite the current economic environment and chal- owners or operators to improve
continued demand for our Networked Floor of the compared with $175.2m in the same period last year. lenging replacement cycle.” net win per day per machine.”
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