REG - Synectics PLC - New Gaming Project in Asia

SynecticsAnnouncement

02/05/2023 07:00

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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: +44 (0) 114 280 2828
 Paul Webb, Chief Executive
 Amanda Larnder, Finance Director
 email: info@synecticsplc.com      www.synecticsplc.com

 Shore Capital                     Tel: +44 (0) 20 7408 4050
 Tom Griffiths / David Coaten

 Media enquiries:
 Intelligent Conversation          Tel: +44 (0) 161 694 3979
 Claire Evans
 email: claire@weareic.com

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
 (https://url.avanan.click/v2/___http:/www.synecticsplc.com/___.YXAxZTpzaG9yZWNhcDphOm86MWFlODA4YmI0ZWJmYmZhNDcxNWRiNmVhZTU0NGM3NWE6Njo1ZWUzOmM5MGE3MjU3NmExMzYyMTZhOTRiOWUwYmM5ZGE0ZDJiZGQ1OGZlYzMyOWIzYTFhMWQwMGQ1MzVhM2I0MmY0NzU6cDpU)

 

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