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Gamble on casino in Pailin looks like a loser

Gamble on casino in Pailin looks like a loser

Crippling revenue and poor gamer numbers have prompted Entertainment Gaming Asia (EGA) to consider walking away from its Dreamworld Casino in Pailin province, according to a filing on the NASDAQ exchange on January 21.

EGA, owned by Melco International Development, runs Dreamworld Casinos in Pailin and Banteay Meanchey provinces.

In the filing, EGA said it would write off its initial $2.5 million investment in the Pailin venture, as it struggles to lure gamers from across the Thai border, and would think about whether or not to stay put in the future.

“The company is reviewing all potential options for the Dreamworld Pailin operations, which include seeking additional leasing contracts with third-party operators, subletting the entire facility or exiting the Dreamworld Pailin operations altogether,” said the statement from EGA, which sells slot machines to NagaWorld in Phnom Penh and the Bokor mountain casino in Kampot province.

EGA recorded a decrease of more than $475,000 between the second quarter and third quarter of 2013 at Dreamworld Pailin. The casino first opened its doors in May of 2012.

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