Last $0.78 USD
Change Today -0.05 / -6.02%
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As of 8:10 PM 07/24/14 All times are local (Market data is delayed by at least 15 minutes).

entertainment gaming asia in (EGT) Key Developments

Entertainment Gaming Asia Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Entertainment Gaming Asia Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the period, the company reported total revenues were $6,919,000 compared to $4,910,000 for the same period a year ago. Loss from operations was $1,015,000 compared to income from operations of $394,000 for the same period a year ago. Loss from continuing operations before income tax was $1,015,000 compared to $288,000 for the same period last year. Net loss from continuing operations was $1,030,000 or $0.03 per basic and diluted share compared to net loss from continuing operations of $329,000 or $0.01 per basic and diluted share for the same period a year ago. Net loss was $1,030,000 or $0.03 per basic and diluted share compared to net loss of $2,507,000 or $0.08 per basic and diluted share for the same period a year ago. EBITDA, as adjusted from continuing operations was $862,000 compared to $1,861,000 for the same period a year ago. The increase in net loss from continuing operations was primarily the result of lower slot operations revenue, lower sales volumes for the gaming products division as well as slight foreign currency losses compared to gains in the prior year period.

Entertainment Gaming Asia Inc.'s Dolphin Subsidiary Receives $3.3 Million Gaming Chip and Plaque Order for the New City of Dreams Manila

Entertainment Gaming Asia Inc. announced its Dolphin subsidiary has received a $3.3 million gaming chip and plaque order to supply Melco Crown (Philippines) Resorts Corporation's new City of Dreams Manila resort in the Philippines. The order is expected to be booked in the fourth quarter of 2014. City of Dreams Manila, a integrated resort expected to open in 2014, will be the second property to open in the Entertainment City casino and tourist complex in Manila Bay. The property will include the ultra luxurious Crown Towers Hotel, trend-setting Nobu Hotel and a five-star luxury hotel as well as a casino, entertainment facilities, retail outlets and restaurants.

Entertainment Gaming Asia Receives NASDAQ Listing Deficiency Notice

Entertainment Gaming Asia Inc. announced that on April 17, 2014, the Company received a notice from The NASDAQ Stock Market LLC (NASDAQ) indicating that it is not in compliance with the minimum bid price requirement for continued listing set forth in Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share. The Company will work to regain listing compliance and believes that it has options available to ensure continued listing on NASDAQ. Management and the Board of Directors are evaluating these options to determine the optimal course of action. As of yesterday, the closing bid price of the Company's shares was $0.87, and it will actively monitor the performance of the stock with respect to the listing standards. According to the Notice, the Company has been given a grace period of 180 calendar days, until October 14, 2014, to regain compliance with the minimum bid price requirement. If at any time during the 180-day grace period, the minimum closing bid price per share of the Company's common stock closes at or above $1.00 for a period of ten consecutive business days, the Company will regain compliance and the matter will be closed. In the event the Company does not regain compliance within this grace period, it may be eligible to receive an additional 180-day grace period, provided that it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The NASDAQ Capital Market, with the exception of the minimum bid price requirement, and provides written notice of its intention to cure the minimum bid price deficiency during the second 180-day grace period. If the Company fails to regain compliance after the second 180-day grace period, the Company's common stock will be subject to delisting by NASDAQ. During the initial 180-calendar day grace period and, potentially the additional 180-calendar day grace period, the Company's common stock will continue to trade on The NASDAQ Capital Market under the symbol "EGT". Therefore, the Notice has no immediate impact on the listing of the Company's common stock.

Entertainment Gaming Asia Inc. to Report Q1, 2014 Results on May 08, 2014

Entertainment Gaming Asia Inc. announced that they will report Q1, 2014 results at 9:00 AM, China Standard Time on May 08, 2014

Entertainment Gaming Asia Inc., Q1 2014 Earnings Call, May 08, 2014

Entertainment Gaming Asia Inc., Q1 2014 Earnings Call, May 08, 2014

 

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