Entertainment Gaming Asia Announces Completion Of Successful Rights Offering

Entertainment Gaming Asia Inc.

("Entertainment Gaming Asia" or "the Company"), a gaming company focused on emerging gaming markets in Pan-Asia, reported today the completion of its previously announced rights offering, which expired on Tuesday, November 25, 2014. The Company sold 27,777,673 shares of its common stock, representing 100% of the shares offered in the rights offering, at the $0.54 per share offering price, for aggregate gross proceeds of approximately $15.0 million. As a result of the rights offering, the total number of outstanding shares of the Company's common stock has increased to 57,879,835. In the offering, the Company's stockholders purchased a total of 11,394,689 shares of common stock pursuant to their basic subscription privilege, and those stockholders who fully exercised their basic subscription privilege elected to purchase a total of 18,196,497 shares of common stock pursuant to their oversubscription privilege. Since only 16,382,984 shares were available for purchase pursuant to the oversubscription privilege, those persons who exercised their oversubscription privilege received their pro rata allotment of the 16,382,984 shares eligible for purchase based on the number of shares issued to them under their basic subscription privilege. EGT Entertainment Holding Limited, a wholly-owned subsidiary of Melco International Development Limited ("Melco") and the Company's largest stockholder, subscribed for 27,777,673 shares by exercising its basic and oversubscription privileges. After giving effect to the proration of oversubscription shares, Melco, through its subsidiary EGT Entertainment Holding Limited, was issued 26,062,294 shares, or 93.8% of the offering, and is now the majority owner of the Company with approximately 64.8% of its outstanding shares of common stock. The Company's officers and members of its Board of Directors collectively subscribed for a total of 1,732,756 shares by exercising their basic and oversubscription privileges. They were issued a combined total of 1,634,679 shares of EGT common stock, or 5.9% of the offering. Clarence Chung, Chairman and Chief Executive Officer of Entertainment Gaming Asia, commented, "We are pleased to announce the completion of a successful rights offering and thank all those participating stockholders, particularly Melco whose support has been instrumental in this process. This offer is an important step in our plan to improve our capital resources and liquidity as we seek to secure meaningful new gaming projects in our target markets. We believe that the strong participation by Melco as well as our Board of Directors in this offering demonstrates their continued support of the Company."