23/08/13 - Pailin Casino losses places their third Cambodian Casino opening on hold
Photo: Pailin Casino Dragon Room
Entertainment Gaming Asia Inc., a Nasdaq-listed company in which Melco holds a 38.2 percent stake, said this month that its first casino, which opened in May 2012 in Pailin, Cambodia, continues to lose money.
A more modest property the company opened in March in Poipet, another town along Cambodia's border with Thailand, has started well.
However, the company has quietly decided to postpone development of a third Cambodian property which it had previously said would be opening later this year in Kampot province along the frontier with Vietnam. A project in Takeo province near Vietnam, which was actually the first the company announced, has gone even quieter.
EGA, previously called Elixir Gaming Technologies Inc., has traditionally operated as a supplier of gambling equipment, especially slot machines, which it manages within other companies’ gaming halls in Cambodia and the Philippines in exchange for a share of revenue.