May 15, 2023 Newsdesk Industry Talk, Latest News, Philippines  
Hong Kong-listed International Entertainment Corp is buying a total of 382 slot machines of various models from RGB International Bhd, in a deal worth just over US$5.7 million.
International Entertainment announced the agreement in a filing on Friday to the Hong Kong bourse.
The machines to be acquired from RGB are to be deployed at New Coast Hotel Manila in the Philippine capital. A unit of International Entertainment, Marina Square Properties Inc, runs the property, which was formerly known as New World Manila Bay Hotel.
The venue features a casino operated by the country’s casino regulator-cum-operator, the Philippine Amusement and Gaming Corp (Pagcor).
A first batch of 200 slots is to be delivered between four to eight weeks from receipt by RGB of the order confirmation. A second batch of 182 slots is to be delivered between 12 and 18 weeks, said International Entertainment.
The firm stated it would finance the purchase with “internal resources”.
The casino at New Coast Hotel Manila operates in premises leased out by International Entertainment to Pagcor. International Entertainment furbishes the casino with gaming equipment, including slot machines.
“Some of them [the existing slots] have been installed for many years,” the firm said in its Friday announcement. “In order to enhance the attraction of the entertainment equipment in the hotel premises, some of the games in the slot machines may require upgrades while some of the slot machines may have to be replaced,” it added.
International Entertainment further stated: “Due to the global relaxation on the Covid-19 travel restrictions, the tourism industry in the Philippines has started to rebound and the group is prepared to expand its slot machines in the hotel premises to attract and cater for a greater number of patrons as well as to improve the income of the group from the gaming business.”
Malaysia-based casino electronic games and services supplier RGB posted a net profit of just over MYR9.3 million (US$2.1 million) for the three months to December 31, compared to a loss of MYR549,000 in the prior-year quarter, it said in a filing to Bursa Malaysia in late February.
Jun 01, 2023
May 31, 2023
Jun 01, 2023
Jun 01, 2023
Jun 01, 2023
Casino operator Las Vegas Sands Corp expects its Marina Bay Sands (MBS) property in Singapore to soon hit the US$500-million mark in terms of quarterly earnings before interest, taxation,...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
”We’re interested [in entering Thailand], we’re looking… but it’s early days”
Robert Goldstein
Chairman and chief executive of casino operator Las Vegas Sands