Synectics PLC New Gaming Project in Asia (9455X)

TIDMSNX

RNS Number : 9455X

Synectics PLC

02 May 2023

 
    2 May 2023 
 

Synectics plc

("Synectics" or the "Company")

New Gaming Project in Asia

Further to its trading update on 13 December 2022, Synectics plc (AIM: SNX), a leader in advanced security and surveillance systems, provides further information regarding the award of a new casino resort project in Asia.

The Company and its long-standing integration partner, Empire Automation, were awarded a contract in December 2022 to provide the surveillance system for Solaire Metro North, a large new-build casino resort in the Philippines, which had been expected to be operational in late 2023.

Developed by Bloomberg Resorts, the resort was originally slated to open in 2021, however the Covid-19 pandemic caused ongoing delays and challenges to the construction, and it is now expected to open in early 2024.

Synectics' integration partner, Empire Automation, has been working closely with the customer to determine the final composition of the solution, including camera selection and coverage. This has been completed and the Company has now received further purchase orders bringing the value of the project to approximately $3 million. It is expected that this will be delivered in the fourth quarter of the Company's financial year ended 30 November 2023.

The surveillance system supplied by Synectics will comprise over 3,000 channels and, whilst incorporating its latest-generation recording solution and cameras, is similar to the system delivered to sister-property Solaire Resort & Casino in the 'Entertainment City' zone of Manila in 2015.

Paul Webb, Chief Executive of Synectics, commented : "Whilst casino operations in the region have now largely returned to normal, expected projects across the sector are still experiencing delays. It is heartening that this project is now proceeding, albeit later than previously expected."

For further information, please contact:

 
 Synectics plc                                   Tel: [phone] 
 Paul Webb, Chief Executive 
 Amanda Larnder, Finance Director 
 email: [e-mail]                         www.synecticsplc.com 
 
 Shore Capital                                   Tel: [phone] 
 Tom Griffiths / David Coaten 
 
 Media enquiries: 
 Intelligent Conversation                        Tel: [phone] 
 Claire Evans 
                                                 email: [e-mail] 
 
 
 
               About Synectics plc Synectics plc (AIM: SNX) is a leader in 
              advanced security and surveillance systems that help protect 
               people, property, communities, and assets around the world. 
            The Company's expertise is in providing solutions for specific 
        markets where security and surveillance is critical to operations. 
          These include gaming, oil and gas, public space, transportation, 
       and critical infrastructure. Synectics has deep industry experience 
              in these markets and works closely with customers to deliver 
    solutions that are tailored to meet their needs. Technical excellence, 
            combined with decades of experience and long-standing customer 
       relationships, provides fundamental differentiation from mainstream 
                 suppliers and makes the company a stand-out in its field. 
 
                                     Find out more at www.synecticsplc.com 
 

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May 02, 2023 02:00 ET (06:00 GMT)