• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

GPI’s first quarter profit plummets on R&D costs

May 15, 2018 Newsdesk Industry Talk, Latest News, Top of the deck  


GPI’s first quarter profit plummets on R&D costs

Casino currency and table gaming equipment supplier Gaming Partners International Corp (GPI) posted net income of US$3,000 for the first three months of 2017, compared to a profit of US$932,000 a year earlier.

“The decrease in our net income was primarily due to an increase in our research and development expenses, [and] an increase in our costs due to the weakening of the U.S. dollar compared to the euro and the Mexico peso,” the Nasdaq-listed company said in a filing.

GPI reported revenue of approximately US$18.7 million for the three months ended March 31, down 1.2 percent from the prior-year period, it said. The firm said the decline in revenue was “mostly due to a decrease in playing card sales, table accessories and other products, and gaming furniture, partially offset by an increase in casino currency sales”.

Revenue from the sale of playing cards fell by 9.2 percent year-on-year, to nearly US$5.8 million in the first three months of 2018. Sales of casino currency rose by 14.6 percent year-on-year, to US$7.6 million, said the company.

“The first quarter of 2018 was disappointing for the playing cards product line, as lower revenues and higher fixed costs reduced margins and profitability,” the firm said in its latest filing. “While we continue to work to remedy these issues, we can no longer assure there will be uninterrupted progress in achieving acceptable levels of profitability,” it added.

GPI said it invested an aggregate of US$1.0 million in research and development in the January to March period, compared to US$310,000 in the first quarter 2017.

The firm’s first quarter net sales in the geographical areas of the Americas and Asia Pacific were approximately US$13.9 million and US$4.1 million respectively, down 2.8 percent and 1.4 percent. Net sales in the Europe and Africa segment surged by 42.5 percent year-on-year, to US$754,000.

GPI said additionally that it has a “strong backlog for the next 12 months”, with the company expecting to win “additional business, particularly in the Asia market due to a number of planned casino openings and expansions in the region”.

At March 31, 2018, GPI’s backlog of signed orders was US$20.1 million, including US$2.5 million for GPI Asia. Macau-based GPI Asia distributes GPI’s casino currencies, playing cards, and other table accessories in the Asia-Pacific region.

In its latest filing, GPI said it plans to launch a new “table management solution at the end of 2018 or early 2019,” to be developed jointly with BrainChip Holdings Ltd and Xuvi LLC.


  • tweet
Related articles
  • Everi US$27mln profit in 4Q, revenue up 14pct y-o-y
    Everi US$27mln profit in 4Q, revenue up...

    Mar 02, 2023  

  • IGT’s 4Q revenue up as gaming sales rise 21pct
    IGT’s 4Q revenue up as gaming sales...

    Feb 28, 2023  

More news
  • Kangwon Land slot brand Manila office eyes SE Asia sales
    Kangwon Land slot brand Manila office...

    Mar 28, 2023  

  • GEN Singapore’s Lim flags uneven recovery pace in 2023
    GEN Singapore’s Lim flags uneven...

    Mar 28, 2023  


Latest News

Kangwon Land slot brand Manila office eyes SE Asia sales

Kangwon Land slot brand Manila office eyes SE Asia sales

Mar 28, 2023  

Kangwon Land Inc, operator of the only South Korean casino permitted to serve local gamblers, recently opened a Manila, Philippines office for sales and promotion of its own-brand KL Saberi casino...
Read More
GEN Singapore’s Lim flags uneven recovery pace in 2023

GEN Singapore’s Lim flags uneven recovery pace in

Mar 28, 2023  

APE narrows annual loss as revenue up 38pct

APE narrows annual loss as revenue up 38pct

Mar 28, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us