Las Vegas-based VendingData Corporation announced that its partner, Macau’s Elixir Group, has signed an agreement to supply 200 electronic gaming machines to Lao Cai International Casino in Lao Cai, Vietnam. The joint-venture alliance of the two companies has now secured agreements for long-term placements for a total of 1,264 electronic gaming machines to be placed on a participation basis at seven venues in three markets, including 200 units in Vietnam, 614 units in the Philippines and 450 units in Cambodia, under a stock purchase and product participation agreement executed in June.
Elixir has achieved 100 percent slot floor share at each of the seven venues for which it now has agreements.
The Lao Cai International Casino is located on the banks of the Red River between Lao Cai, Vietnam and Hekou, China. The venue, which is open 24 hours a day and includes a four-star hotel, is a short walk from the border crossing with China, in the heart of Lao Cai’s commercial and business district. The 200 gaming machines are expected to be installed in the next several weeks, and will replace all of the currently installed gaming machines at the facility.
“With this new agreement, Elixir continues to demonstrate that we can leverage our extensive relationships into new market share for high-margin, recurring revenue electronic gaming machine placements in rapidly expanding Asian gaming markets, said Gordon Yuen, CEO of Elixir.
Mark Newburg, president and CEO of VendingData Corporation, added, “With agreements now for over 1,250 gaming machines, we continue to make rapid progress in our partnership with Elixir to address the gaming needs of the Asia-Pacific marketplace. This level of success places us solidly on the path to meet all of the goals we set out to achieve in our agreement with Elixir.”
