Aug 30, 2022 Newsdesk Industry Talk, Latest News, Rest of Asia
The quarterly loss at casino electronic games and services supplier RGB International Bhd narrowed sequentially for the three months to June 30, it said in a Monday filing to Bursa Malaysia. Such loss was just under MYR2.7 million (US$592,315), compared with a loss of just over MYR3.3 million in the first quarter.
“The tourism and hospitality industries are expected to continue recovering, aided by gradual easing of cross-border travel restrictions especially in ASEAN countries,” said the company, referring to a club of Southeast Asian nations.
“Barring unforeseen circumstances, the group foresees a relatively stronger recovery in the gaming market than the previous year and therefore a better performance for year 2022,” RGB added.
The second-quarter result was on revenue that rose circa 57 percent quarter-on-quarter, to MYR50.3 million, relative to MYR32.0 million in the three months to March 31.
The company operates three main segments: sales and marketing of gaming equipment; technical support and management; and engineering services.
Group earnings before interest, taxation, depreciation and amortisation (EBITDA) for the three months to June 30 were just under MYR10.7 million, an increase from the MYR9.8 million in the first quarter.
Sales and marketing revenue nearly doubled quarter-on-quarter, to MYR28.2 million, compared to MYR14.8 million in the first quarter.
Technical and support management revenue was up, at nearly MYR21.5 million, versus MYR16.8 million in the first quarter.
Engineering services revenue rose sharply quarter-on-quarter, at MYR546,000, compared to MYR91,000 in the three months to March 31.
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