GGRAsia – RGB eyes Myanmar for gaming machine biz: report

RGB eyes Myanmar for gaming machine biz: report

Apr 15, 2019 Newsdesk Industry Talk, Latest News, Philippines, Rest of Asia

Gaming equipment maker RGB International Bhd is looking to business opportunities in Myanmar, according to a senior executive as quoted by the online edition of Malaysia’s The Star newspaper.

Myanmar’s parliament is expected to approve in May a bill that would authorise the setting up of foreigner-only casinos in the country, the Myanmar Times newspaper reported on March 31.

“We are studying the market now, as we have already received enquiries from potential casino operators in Myanmar,” said RGB managing director Chuah Kim Seah, as quoted by The Star.

In late March RGB International, a company listed on Bursa Malaysia, reported fourth-quarter and full-year 2018 results that marked an annual profit of MYR35.2 million (US$8.6 million) as compared to MYR30.3 million in 2017. Its 2018 revenue was up 50.3 percent, to MYR379.3 million.

According to Monday’s report in The Star, quoting Mr Chuah, for 2019 the group is aiming to install an additional 1,770 gaming machines across Asia, with 1,300 of them destined for the Philippines market.

In Cambodia, RGB International would install 280 machines this year, indicated the executive.

Mr Chuah said additionally that the gaming machine management business was an important segment for RGB International, notwithstanding the group’s decision to put off a plan for an initial public offering in Hong Kong for its unit dealing with such work.

The Malaysian manufacturer had confirmed in September that it intended to spin off its technical support and management division and list it on the Hong Kong Stock Exchange.

“We need to wait for a conducive environment to implement our initial public offering plans in Hong Kong,” Mr Chuah was quoted as saying by The Star newspaper .