Electronic gaming machine supplier RGB International Bhd says it is looking to install 1,770 new EGMs across Asia in 2019, of which 1,300 are headed to the Philippines.
The company’s ongoing expansion plans were outlined by Managing Director Datuk Chuah Kim Seah in an interview with The Star Malaysia, coming despite a forced delay in a previously announced spin-off of its technical support and management (TSM) division to list on the Hong Kong Stock Exchange.
“In the Philippines, some 600 gaming machines have already been installed … according to the terms and conditions of the contract,” Chuah said, with the remaining units to be installed by the end of July.
“These 1,300 machines would generate a yield of at least US$50 million for the group over the next five years.”
RGB is also looking to install 280 machines in Cambodia, 100 in Timor and up to 180 in Vietnam, while recent revelations that Myanmar is set to pass a new law in May allowing the development of foreigner-only casinos will open another new opportunity for the company.
“We are studying the market now, as we have already received enquiries from potential casino operators in Myanmar,” Chuah said.
Asked about the delay in spinning off RGB’s TSM division, Chuah added, “We need to wait for a conducive environment to implement our initial public offering plans in Hong Kong.”
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