Is There Any Fun Left In Entertainment Gaming Asia (EGT)?

After stumbling through a long list of penny stocks which filed their 10-Q late on Thursday, one company we came across could be worth more than just watching as it heads into 2014. Entertainment Gaming Asia Inc. (EGT), a slot machine provider focused on Southeast Asia, recently entered into Cambodia along the Thailand border in what should result in some much larger revenue numbers in the coming months. With a large presence already in the heart of the Philippines, the beating EGT stock has taken since June makes us think that this neglected Nasdaq listed penny stock could be a great target for long players with patience.

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Entertainment Gaming Asia Inc., EGT, EGT Stock, EGTS Stock Quote, EGT Stock Chart, Asian Penny Stocks, China Penny Stocks, Nasdaq Penny StocksEGT Stock Quote

Market Cap: 37.53M
Last: 1.25
Avg. Volume: 35,410
Short Interest: 27,214
52 Wk High: 2.25
52 Wk Low: 1.14
Authorized: 75,000,000
Issued and Outstanding: 30,024,662
14-Day Rel Strength: 40.90%
1st Resistance Point: 1.2733
1st Support Level: 1.2233

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Entertainment Gaming Asia reported their Q3 results to the SEC yesterday. However, investors of EGT stock were already aware of the numbers prior to the filing since the slot machine provider had issued its results more than a week ago.

Revenues of $4.546 million and $15.505 million for the 3 and 9 months ended September 30, 2013 didn’t seem to bode well despite them being better than the same periods in 2012: $4.48 million and $14.634 million, respectively. EGT stock is down -16.11% since the news came out even though the Company is on the verge of a major revenue maker with their Dreamworld Club in Poipet, Cambodia which just opened on May 9 of this year.

What seems to be neglected from a fundamental point of view is where Entertainment Gaming Asia has come from. Over the past 4 year’s, annual revenues for the company have increased from $15.623 million in 2009 to $32.818 million in 2012, a 110% increase, while gross profit from operations during that time frame has increased by $12.227 million: from a net loss of -$2.253 million in 2009 to grss income of $9.974 million in 2012.

This year looks like the Company will surpass last year’s revenue numbers by a fraction which is not representative of how EGT stock has reacted since the summer. The additional operating costs involved with the with their Poipet DreamWorld Club has made an impact to their bottom line numbers which is representative of how EGT stock has traded. With a half-decent Q4 showing and some better than expected activity in the Philippines, the leading growth country in Asia, during the next 2 months, a bounce on EGT stock could be a decent play even though it’s ceiling limits it from being a game changer.

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About EGT Stock

Entertainment Gaming Asia Inc. is engaged in: (i) slot operations which include the ownership and leasing of electronic gaming machines in resorts, hotels and other venues in Pan-Asia placed on a revenue sharing basis with venue owners; (ii) the development and operation of regional casinos and gaming clubs in the Indo-China region under our “Dreamworld” brand; and (iii) the design, manufacture and distribution of gaming chips and plaques.

Click here to view the SEC filings for EGT.
Click here to view the website for Entertainment Gaming Asia.

Last 5 Trading Sessions:

Date Open High Low Last Change % Change Volume
11/14/13 1.22 1.27 1.22 1.25 unch unch 6,400
11/13/13 1.26 1.28 1.21 1.25 unch unch 7,900
11/12/13 1.26 1.30 1.20 1.25 unch unch 38,400
11/11/13 1.35 1.35 1.25 1.25 -0.11 -8.09% 73,100
11/08/13 1.44 1.44 1.34 1.36 -0.13 -8.72% 28,100


Bottom Line:

EGT loos pretty neglected at this point and might warrant a spot on the list of penny stocks to watch. With short interest equal to the volume from 5 of the most recent trading sessions, an entry below $1.20 would reduce some of the risk since a return to $1.50 or $1.60 would surely bring out the sellers again.

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