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Machine vendor to develop complex in Cambodia
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Elixir Gaming Technologies Inc. is going to try its hand at operating a casino hotel in Southeast Asia. Elixir, which provides electronic gaming machines on a participation basis to a variety of Asian venues, said it has been granted a casino license by the Cambodian government and plans to build and operate a casino hotel in the Takeo Province near the Vietnam border.
Elixir officials say the project – dubbed the Dreamworld Casino and Resort – represents an important step in the company's long-term growth strategy. “In an effort to better capitalize on the growth opportunities that exist in our target markets and enhance long-term returns, we have developed a two-pronged approach to our growth strategy for our gaming operations as the provider of gaming machines on a participation basis and as a casino owner and operator in emerging markets in Pan Asia,” said Clarence Chung, the company's chairman and ceo. “As a border casino, Dreamworld will be strategically positioned to capitalize on the attractive Southern Vietnam and greater Phnom Penh feeder markets. We intend to leverage our marketing expertise to make Dreamworld a destination location for the mass market players in the area.”
The initial phase of Dreamworld will include 150 electronic gaming machine seats and 20 table games housed on approximately 54,000 square feet of casino floor space, along with 50 hotel rooms. Capital expenditures for the initial phase, which is slated for completion in the fourth quarter of 2011, are expected to total between $8 million to $10 million. Elixir also said it intends to develop additional phases of the project, dependant on demand and the availability of capital.
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