Synectics PLC New Gaming Project in Asia (9455X)
May 02 2023 - 1:00AM
UK Regulatory
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: +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
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