UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event
reported): August 28, 2015
ENTERTAINMENT GAMING ASIA INC.
(Exact Name of Registrant as Specified in
Its Charter)
Nevada |
|
001-32161 |
|
91-1696010 |
(State or Other Jurisdiction of Incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer Identification Number) |
Unit C1, Ground Floor, Koon Wah Building
No. 2 Yuen Shun Circuit
Yuen Chau Kok, Shatin
New Territories, Hong Kong SAR
(Address of principal executive offices,
including zip code)
+ 852-3147-6600
(Registrant’s telephone number, including
area code)
Not applicable |
(Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions.
| o | Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02 Departure of Directors
or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On August 28, 2015,
our Chief Accounting Officer, Andy Tsui, provided notice of his resignation from Entertainment Gaming Asia Inc. effective as of
September 30, 2015. Mr. Tsui indicated that he is resigning to pursue another career opportunity. Traci Mangini, our Senior Vice
President Corporate Finance, has been appointed to serve as the interim Chief Financial Officer effective as of October 1, 2015.
Mr. Tsui has agreed to continue to assist the Company on an as needed basis for a
period following his departure to best ensure a seamless transition.
Ms. Mangini joined our company as senior
vice president corporate finance in June 2008. From 2003 to 2008, Ms. Mangini had been a senior
equity research analyst responsible for coverage of companies in the domestic and international gaming sector at ThinkEquity,
a then subsidiary of Panmure Gordon & Co., a company listed on the AIM market operated by the London Stock Exchange. She was
promoted to partner at ThinkEquity in 2008. Prior to joining ThinkEquity, Ms. Mangini served as a vice president equity research
analyst for consumer companies at Merriman Curhan Ford & Company, a company then listed
on the American Stock Exchange, from 2012 to 2013 and at First Security Van Kasper, a publicly traded company on the NASDAQ
National Market which was acquired by Wells Fargo & Co in 2000, from 1997 to 2001. From
2001 to 2002, she served as an investment consultant and research analyst at Fisher Investments Inc. Ms. Mangini holds a master
of science in quantitative analysis from Boston University and a bachelor of arts in business administration from the University
of San Diego.
On
September 1, 2015, we issued a press release announcing Mr. Tsui’s planned departure and Ms. Mangini’s appointment,
a copy of which is filed as an exhibit to this Form 8-K.
Item 9.01 Financial Statements and Exhibits
(d) |
Exhibits |
Method Filing |
The following exhibit is filed with this
report:
|
|
|
Exhibit 99.1 |
Press release dated September 1, 2015 regarding the departure
of the Chief Accounting Officer and succession plan
|
Filed Electronically herewith |
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
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ENTERTAINMENT GAMING ASIA INC. |
|
|
Dated: September 1, 2015 |
/s/ Clarence Chung |
|
Clarence (Yuk Man) Chung |
|
Chief Executive Officer |
Exhibit 99.1
For Immediate Release
CONTACTS:
Entertainment Gaming Asia Inc.
Traci Mangini
tracimangini@EGT-Group.com
872/802-4227
ENTERTAINMENT GAMING
ASIA INC. ANNOUNCES PLANNED DEPARTURE OF
CHIEF ACCOUNTING
OFFICER AND SUCCESSION PLAN
Hong Kong – September 1, 2015 –
Entertainment Gaming Asia Inc. (NASDAQ: EGT) (“Entertainment Gaming Asia” or “the Company”), a gaming company
focused on emerging gaming markets in Pan-Asia, today announced that Andy Tsui, Chief Accounting Officer, has served notice to
resign effective as of September 30, 2015 to pursue another career opportunity. Ms. Traci Mangini, the Company’s Senior Vice
President Corporate Finance, has been appointed the interim Chief Financial Officer effective as of October 1, 2015. Mr. Tsui
has agreed to continue to assist the Company on an as needed basis for a period following his departure to best ensure a
seamless transition.
Clarence Chung, Chairman and Chief Executive
Officer of Entertainment Gaming Asia, commented, “Andy has been a valued member of our management team for more than seven
years and was instrumental in building a solid finance organization. On behalf of the Company and our board of directors,
I thank him for his dedicated service and his willingness to stay on board to ensure a successful transition. We wish him well
in his future endeavors.
“We are
pleased that Traci has agreed to step into the role of interim Chief Financial Officer as we continue our efforts to grow and expand
our operations. Traci has more than 15 years of financial experience, including over seven years at the Company where she has worked
closely with our financial statements and public disclosures.”
Ms.
Mangini joined Entertainment Gaming Asia in June 2008 as senior vice president corporate finance after spending approximately eight
years in equity research. For five years prior to joining the Company, she worked at ThinkEquity, a then subsidiary of Panmure
Gordon & Co., where she became a partner and was a senior equity research analyst responsible for coverage of companies in
the domestic and international gaming sector. Previously, she also served as a vice president and research analyst covering
consumer companies at both Merriman Curhan Ford & Company and First Security Van Kasper, which was acquired by Wells Fargo
& Company. Ms. Mangini holds a master of science in quantitative analysis from Boston University and a bachelor of arts in
business administration from the University of San Diego.
- more -
Entertainment Gaming Asia Announces Departure of CAO and
Succession Plan, 9/1/2015
page 2
About Entertainment Gaming Asia Inc.
Entertainment Gaming Asia Inc. (NASDAQ:
EGT), an indirect, majority-owned subsidiary of Melco International Development Limited, is a gaming company in Pan-Asia engaged
in the leasing of electronic gaming machines on a revenue sharing basis to the gaming industry in Cambodia and the Philippines
and the development and operation of gaming venues in Asia under its “Dreamworld” brand. The Company also
manufactures and sells RFID and traditional gaming chips and plaques to major casinos under its “Dolphin” brand.
Forward Looking Statements
This press release contains forward-looking
statements concerning Entertainment Gaming Asia within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Those forward-looking statements include statements regarding expectations
for the Company’s ability to grow and expand its operations. Such statements are subject to certain risks and uncertainties,
and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors
that could cause or contribute to differences include, but are not limited to, risks set forth in the Company’s annual report
on Form 10-K for the year ended December 31, 2014 filed with the SEC on March 26, 2015 and subsequently filed quarterly reports
on Form 10-Q. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not
undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated
events as they occur.
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