Elixir Gaming Technologies provides update

AS VEGAS, Nevada -- (PRESS RELEASE) -- Elixir Gaming Technologies, Inc. (AMEX:EGT) ("Elixir Gaming" or "the Company") today announced that the Company's contract base of electronic gaming machines has risen to 5,530 units. The units are to be installed across 33 venues, with 2,400 contracted at 12 venues in the Philippines, 2,230 contracted at 17 venues in Cambodia, 400 at 2 venues in Vietnam and 500 aboard 2 cruise ships.

As with all of the Company's agreements to date, Elixir Gaming has 100% of the gaming machine floor at each of the 33 venues contracted to-date and receives no less than 20% of the net gaming win from each machine.

Elixir's first property to open, Casablanca Casino, located within the Clark Field Special Economic Zone in the Philippines, recently surpassed management's targeted annual average net win per day of US$125 and has sustained this average daily win for one month. Casablanca Casino is achieving the better than targeted net win per day following a planned reconfiguration of the slot floor.

Gordon Yuen, Executive Chairman and CEO of Elixir Gaming, commented, "Our current contract base of 5,530 gaming devices, diversified across 33 venues is a clear indication of our sustained efforts to deliver contracts. We believe that the electronic gaming machine contract base will continue to increase at a steady pace and that installation of the units under contract will continue to increase by an average of approximately 1,000 units on a quarterly basis throughout 2008."

Joe Pisano, Executive Director and Senior VP of Elixir Gaming, added, "We are making excellent progress towards achieving our internal target of having an installed base in excess of 2,500 gaming machines by late March/early April 2008. Importantly, at the same time Elixir Gaming's contracted pipeline continues to steadily grow along with the average daily net win at the venues currently in operation."