500 at the Manila Prince Hotel & Casino in downtown Manila, Philippines; and,
The Manila Prince Hotel and Isis Slot Club are strategically located in the heart of the Philippine capital of metro Manila, which is amongst the city’s business, shopping, nightlife and tourist attractions. Elixir Gaming will have 100% of the gaming machine floor in both venues. Both gaming facilities, which have yet to receive licensing approval, require extensive construction and renovation and are expected to open in mid-2008.
With these agreements, Elixir Gaming now has total commitments for 2,894 electronic gaming machines to be placed on a long-term, participation basis across fourteen venues throughout Asia. In the Philippines, Elixir now has commitments for 1,764 electronic gaming machines to be placed on a recurring revenue model.
Gordon Yuen, Executive Chairman and CEO of Elixir Gaming, commented, “This latest agreement in the Philippines exemplifies the ongoing, efficient execution of our plan to secure long-term placements of electronic gaming machines on a recurring revenue model across Asia. Asia is the most promising, fastest growing market for the expansion of the global gaming industry and Elixir Group is at the forefront of fostering the development of gaming businesses at premiere locations in Asia’s emerging countries. Elixir Group’s strong presence throughout Asia will ensure that Elixir Gaming remains a leader in providing high-margin, recurring revenue electronic gaming machines across the Asian markets.”