EGT sells off Cambodian assets

Gaming supplier Entertainment Gaming Asia (EGT) has sold its remaining gaming assets in Cambodia in an effort to streamline its business operations, local media reports.

On Wednesday, the NASDAQ-listed gaming technology supplier announced it sold its gaming assets in Cambodia, which included 278 electronic gaming machine (EGM) seats at the Dreamworld Club (Poipet) and an additional 72 EGM seats held in storage to the Dreamworld Poipet venue owner for a cash payment of US$900,000.

“This asset sale is part of our continued efforts to refine our business operations and position ourselves for new opportunities,” said Clarence Chung, chairman and CEO of EGT in a statement.

The company had been reportedly winding down its Cambodia operations since July of 2016.

Chung said the disposal of its Cambodian gaming operations was part of a strategic realignment that would allow it to explore new business opportunities.

“The termination of the Dreamworld Club (Poipet) operations should have a minimal impact on our future cash flow from operations and provides additional resources to direct toward the execution of a new potential growth strategy, which involves the entrance into new areas such as film and related businesses,” he said.