Elixir Gaming Technologies Announces New Machine Participation Agreement for 60 Gaming Machine Seats in Cambodia

Elixir Gaming Technologies, Inc. (NYSE Amex: EGT) ("Elixir Gaming” or "the Company”), a leading technology and solutions provider to the Pan-Asian gaming industry, today announced that it has entered into a Machine Participation Agreement ("Agreement”) with Grand Golden Co. Ltd. ("Grand Golden”), to place approximately 60 electronic gaming machine seats on a participation basis at its new Grand Golden casino in Kampong Cham Province, Cambodia near the Vietnam border. The Company anticipates the full deployment of the 60 gaming machines seats in November 2010 following the completion of the renovations of the designated floor space by the venue owner.

Under the terms of the Agreement, Elixir Gaming will have joint control over the operation of all the Company’s electronic gaming machine seats, including full audit rights. Elixir Gaming and Grand Golden will share the revenue and marketing costs, at a 30% / 70% split, respectively, and Elixir Gaming will receive on a monthly basis its relevant portion of the daily win in cash. The contract duration is five years commencing once the 60 gaming machine seats become operational.

Clarence Chung, Chairman and Chief Executive Officer, commented, "We are pleased to announce the expansion of our operations in one of our key markets with our new contract with Grand Golden, the owners of which are established gaming operators in the Indo-China region. Given the contracted 60 machines are expected to be sourced primarily from our current inventory, capital expenditures for this project should be minimal. In addition, we continue to actively pursue additional machine placement opportunities in Cambodia and other new markets.”

Also today, Elixir Gaming announced its Dolphin division recently secured an order to supply RFID gaming plaques and chips for Melco Crown Entertainment’s (NASDAQ: MPEL) City of Dreams casino resort in Macau. The order is valued at approximately AU$370,000 (US$340,000). Elixir Gaming expects to record this revenue in the 2010 second quarter period. City of Dreams, located in Cotai, opened in June of 2009 and is an integrated urban entertainment resort featuring a 420,000 square foot casino with approximately 520 gaming tables and 1,350 gaming machines.

Clarence Chung, Chairman and Chief Executive Officer, concluded, "We continue to work to unlock the value in our under-exploited Dolphin gaming chip operations. We are encouraged by the level of interest in our recently developed gaming plaques by existing and new customers and are proud to announce that our first order for this new product is to City of Dreams.”

About Elixir Gaming Technologies, Inc.

Elixir Gaming Technologies, Inc. (NYSE Amex: EGT) is a provider of gaming technology solutions. The Company secures long-term contracts to provide comprehensive turn-key solutions to 3, 4, and 5 star hotels and other well-located venues in Asia that seek to offer casino gaming products. The Company retains ownership of the gaming machines and systems and receives recurring daily fees based on an agreed upon percentage of the net gaming win per machine and provides on-site maintenance. The Company has established a strategic presence in the Asia Pacific region with a focus on Cambodia and the Philippines markets. For more information please visit www.elixirgaming.com.

Forward Looking Statements

This press release contains forward-looking statements concerning Elixir Gaming, 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 business of Elixir Gaming, its working capital requirements and future revenue and profitability. 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 related to the costs incurred by Elixir Gaming in defending shareholder litigation and the outcome of any judgment or settlement with respect to such litigation, Elixir Gaming’s inability to place gaming machines at significant levels, whether the gaming machines placed generate the expected amount of net-win, the ability of Elixir Gaming to acquire additional capital as and when needed, the ability of Elixir Gaming to collect revenue and protect its assets and those other risks set forth in Elixir Gaming’s annual report on Form 10-K for the year ended December 31, 2009 filed with the SEC on March 30, 2010. Elixir Gaming cautions readers not to place undue reliance on any forward-looking statements. Elixir Gaming does not undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.