Elixir Gaming Technologies says it has a new machine participation agreement with Grand Golden to place approximately 60 electronic gaming machine stations at its new casino in Kampong Cham Province, Cambodia, near the Vietnam border.
The company anticipates full deployment of the stations in November 2010 following completion of renovations to the floor space by the venue owner.
Under the terms of the agreement, Elixir Gaming will have joint control over the operation of all the company’s electronic gaming machine stations, including full audit rights. Elixir Gaming and Grand Golden will share the revenue and marketing costs, at a 30 percent/70 percent split, respectively, and Elixir Gaming will receive on a monthly basis its relevant portion of the daily win in cash. The contract duration is five years commencing once the 60 gaming machine stations become operational.
Clarence Chung, chairman and CEO of Elixir Gaming, said, “We are pleased to announce the expansion of our operations in one of our key markets with our new contract with Grand Golden, the owners of which are established gaming operators in the Indo-China region. Given the contracted 60 machines are expected to be sourced primarily from our current inventory, capital expenditures for this project should be minimal. In addition, we continue to actively pursue additional machine placement opportunities in Cambodia and other new markets.”