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Elixir Gaming Technologies, AsianLogic enter agreement

Elixir Gaming's principle focus is placing gaming machines on a revenue share basis in Asia and has rapidly established a strong presence in the Philippines, Cambodia, Vietnam and other Asian markets. The Company now generates revenues from approximately 1,200 gaming machines placed on participation around the Asia-Pacific region and has a rapidly growing pipeline of gaming machines contracted to be placed on participation that currently stands at over 4,500 gaming machines. The Companies maintain a significant physical presence in Macau and the Philippines, whilst Elixir Gaming has expanded its physical presence into Cambodia and Vietnam.

AsianLogic operates online casinos and peer-to-peer (P2P) game platforms across the Asia-Pacific Region. In addition, it operates land-based sports betting outlets in the Philippines distributes leading gaming content, software and systems.

Elixir Gaming's Executive Chairman and CEO, Gordon Yuen, commented, "Elixir Gaming has within a matter of months established itself as the market leader in the gaming machine participation business across Asia. We are pleased to partner with AsianLogic, giving us access to additional games, gaming software, server based gaming experience and some unique offerings which we believe will enhance net win at our existing and future outlets as well as further strengthen our leading strategic position in Asia. We recognize that AsianLogic, in conjunction with its software providers such as Playtech and Videobet, understands the importance of cross marketing, database mining and gaming across multiple platforms such as land-based, online and mobile. We are confident that through combining the two strengths of the organizations we will continue to offer the leading and optimal revenue generating products to gaming venue operators across the Asia-Pacific region."

Tom Hall, AsianLogic's Vice Chairman, added, "The explosive growth of the slot market industry in Asia has makes compelling logic for us to formally partner with Elixir Gaming as they are the clear market leader in this space. The senior management of Elixir Gaming has many years of experience in the Asian gaming industry and the Elixir Group is widely recognized in the gaming industry in Asia for its industry leadership and distribution capabilities. Further, Elixir International, a strategic partner of Elixir Gaming, has a research and development team that has developed and manufactured what in our opinion is the best slot machine cabinet currently available. It has been designed to support both the traditional slot machine model as well as the developing server based gaming models. While we fully understand the gaming software and games content industries and represent some of the leading products in Asia, we were struggling somewhat on the physical machine development and ongoing support. By entering into this co-operation agreement with Elixir Gaming, we can delegate this critical side of the business to the Elixir Group and focus on rolling out games and gaming concepts utilizing both of our distribution channels."

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