Entertainment Gaming Asia Q1 profit drops

    Entertainment Gaming Asia reported a 29 percent drop in Q1 profit as both its gaming operations and gaming products division declined. The company reported revenue of $6.9 million. Gaming operations revenue, which comprised slot and casino operations, was $4.1 million for the first quarter of 2014, down 25 percent. Slot machine revenue fell 12 percent to $3.9 million primarily due to lower average daily net wins from NagaWorld and the Philippines. Casino operations, which comprised one property, Dreamworld Pailin, contributed $216,000 to total gaming operations revenue in the first quarter of 2014 compared to $1.1 million in the prior year period. Revenue from gaming products was $811,000, down 43 percent. The company had an adjusted net loss of the $329,000, or $0.01 per share. “We remain committed to our gaming development strategy and are actively seeking new projects in Indo-China and other growing gaming markets in Asia that have the potential to drive meaningful long-term growth for the company,” Chairman and CEO Clarence Chung said.