Asia Entertainment & Resources Ltd. Announces Correction to Its Second Quarter 2010 Financial
HONG KONG—(BUSINESS WIRE)—Asia Entertainment & Resources Ltd. (AERL) (NASDAQ: AERL -
News) (NASDAQ: AERLW - News), which operates through its subsidiaries and related promoter companies
as a VIP room gaming promoter, issued a press release on August 30, 2010, reporting unaudited and reviewed
financial results for the quarter and six-months ended June 30, 2010. The correction pertains to the cash flow and
balance sheet highlights comparisons to the prior year period. The company apologizes for any confusion from
the earlier release. All currency amounts are stated in United States dollars.
The prior version reported cash used in operations was $37.2 million, rather than the corrected $34.7 million.
Additionally, the prior version reported that the cage capital was up 6.2% from $69.0 million in the first quarter of
2010, rather than the corrected increase in cage capital which was up 34% from $54.6 million in the first quarter
A corrected version as follows:
Cash Flow and Balance Sheet Highlights
Turning to the cash flow statement, cash used in operations was $34.7 million for the six-months ended June 30,
2010, which includes the cash used for markers of $62.4 million. As of June 30, 2010, total available cage
capital was approximately $73.3 million. The total available cage capital is comprised of markers receivable of
$62.4 million and cash, cash chips and non-negotiable chips of $10.9 million. AERL’s related parties have
provided financing of approximately $48.8 million.
Total available cage capital at the end of the second quarter was approximately $73.3 million, up 34% from
$54.6 million in the first quarter of 2010.
About Asia Entertainment & Resources Ltd.
AERL, formerly known as CS China Acquisition Corp., acquired AGRL on February 2, 2010. The principal
business activities of AGRL’s wholly owned subsidiaries are