RSS Feed

Tech Support

Malaysian casino equipment supplier and distributor RGB International Bhd reported second-quarter profit of just 18.9 million yuan ($4.3 million), down 28.8% from a year earlier. Those profits fell 14.9% sequentially.

The company posted sales of 99.6 million yuan in the three months to June 30, down 70.2% from a year ago and down 52.6% from the previous quarter, according to data submitted to Bursa Malaysia on Monday.

RGB announced a "second interim single-layer dividend" of MYR0.006 per share, due on October 15. The company paid a first interim dividend of MYR0.006 per share on July 12.

The company posted nearly 31.2 million yuan in profit before interest, taxation, depreciation and amortization (EBITDA) in the April-June period, down 24.7% from a year ago.

According to the data, most of RGB's second-quarter revenue (approximately 67.9 million yuan) came from product sales and marketing, down 77.7% year-over-year.

In a recent filing, the company said its second-quarter earnings in its sales and marketing division were negatively impacted compared to the prior year period, given "volume sales" recorded in the prior year quarter.

Revenue from the technical support and management division rose 2.5% year-over-year to slightly above MYR 29.8 million during the reporting period. Engineering services revenue was flat at MYR 695,000.

RGB said in a filing on Monday that the group's outlook was "still solid, especially on the back of promising market conditions in the Philippines."

"As a pivotal slot machine distributor in the Philippines and a major player in the machine concession business, the group is well positioned to capitalize on the growth of the [game] industry in the Philippines," it added.

In April, RGB said one of its units had acquired 86 gaming consoles operating in the Philippines for about $2.2 million. The group has the right to cover 20% of its revenue from 86 consoles with related taxes and joint costs, the company said at the time.

In late May, the gaming provider said it had received a contract from Philippine regulatory agency and casino operator Pagcor to supply a total of 1,968 slot machines. The total value of the contract is slightly above US$81.3 million, according to previous corporate information.

RGB said in an update on Monday that it expects to "start offering slot machines in the second half of 2024 and complete the installation by the end of the year."

Earlier this month, RGB noted that its wholly-owned subsidiary, Macau Ltd (RGB), had signed a deal with FIRM 614 Co Ltd to distribute gaming equipment in Cambodia.