EGA posts drop in Q3 gaming revenue
EGA posts drop in Q3 gaming revenue
Entertainment Gaming Asia (EGA), a subsidiary of Macau-based gaming giant Melco, posted year-on-year losses at the end of the third quarter on the back of poor player numbers at the company’s NagaWorld operations.
Gaming revenues for EGA, which leases electronic gaming machines (EGMs) on a revenue-sharing basis to NagaWorld and Sokha’s Thansur Bokor Resort, reached $3.96 million during the three-month period ending September 30, down 9 per cent compared with the third quarter in 2013. Gaming operations revenues for the first nine months of 2014 totalled $12.2 million, down 10 per cent.
“The decrease in gaming operations revenue for the third quarter of 2014 was largely due to a decline in revenue from NagaWorld,” Clarence Chung, chairman and CEO of Entertainment Gaming Asia was quoted saying in the statement released Thursday. Chung added that NagaWorld’s renovations had added slight disruptions to EGA’s gaming operations.
“With this floor renovation now complete, our installed machine base and player traffic levels have returned to more normalized levels.”
As of December 31, 2013, EGA was leasing some 670 EGMs to NagaWorld and 180 EGMs at Thansur Bokor, according to the company’s latest annual report.
EGA’s third-quarter financials come after the company in June sold its Dreamworld-branded Pailin casino for $500,000 after writing off an initial investment of $2.5 million in January due to low player traffic.
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