Blog

Apr 29 2024

Casino Supplier RGB Reports Second Quarter Slight

Casino e-games and services provider RGB International Bhd reported second-quarter net income of 601,000 MYR ($144,931), a loss of 14 million MRY from a year earlier. Revenue for the period rose 284.5% year over year to nearly 55.5 million MRY, Bursa Malaysia said.

There is no dividend recommended by directors for the financial period ended June 30 this year.

Group earnings before interest, taxation, depreciation and amortization (EBITDA) were nearly 14.3 million MYR in the second quarter of 2021, compared to just 410,000 MYR in the same period a year earlier.

In the latest reporting quarter, sales in casino equipment sales and marketing, technical support and management, a major segment of RGB, increased sharply year over year.

For the first category, sales were slightly below 38.2 million yuan, up 197.5% from a year earlier. RGB said the growth was "due to an increase in the number of products sold and changes in the product mix."

Technical support and management revenue was just 17 million Myr compared to 1.5 million Myr in the same period last year. RGB said the increase was "mainly due to more outlets resuming operations" in the reporting quarter.

"However, most of these operating outlets are operating at limited capacity as part of measures to prevent the spread of COVID-19," it added. As such, the sector posted a loss of 9 million yuan during the quarter.

The company said it expects the market to "remain volatile" "in the liquidity of the COVID-19 situation" in the second half of 2021, especially in the countries it operates in.

The group has also been conducting "test simulations" for "remote gaming solutions" for land casino operators as a new business to boost revenue.