Audit Committee Charter v3

ENTERTAINMENT GAMING ASIA INC. CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS (as amended by the Committee and approved by the Board of Directors on May 7, 2010) I. PURPOSE AND GENERAL RESPONSIBILITIES The primary function of the Audit Committee of the Board of Directors of Entertainment Gaming Asia Inc. (formerly known as Elixir Gaming Technologies, Inc.) (the “Corporation”) is to assist the Board of Directors in fulfilling its oversight responsibilities for financial matters. It performs this function by: • Serving as an independent and objective party to monitor the Corporation’s financial reporting process and internal control system; • Reviewing and assessing audit efforts of the Corporation’s independent auditors and internal auditing department; • Providing an avenue of open communication among the Corporation’s independent auditors, financial and senior management, internal auditing department and Board of Directors; and • Reviewing the independence and performance of the independent auditor. In carrying out these responsibilities, the Audit Committee shall have the authority to conduct or authorize investigations into any matters within the scope of its responsibilities and the authority to retain such outside counsel, experts, and other advisors as it determines appropriate to assist it in the conduct of any investigation. While the Audit Committee has the responsibilities set forth in this Charter, it is not the duty ...