Malaysian gaming product distributor RGB International Bhd reported revenue of MYR94.2 million (US$21.2 million) for the three months to 30 September 2024, down 5% year-on-year on slight declines across all operating segments.
Group-wide profit was flat at MYR20.4 million (US$4.6 million).
According to information filed with the Malaysia bourse, the Q3 result includes a 2% year-on-year decline in revenue in RGB’s main Sales and Marketing division to MYR66.3 million (US$14.9 million), mainly due to a lower number of products sold and delivery of bulk sales in the previous year’s corresponding period. Segment profit of MYR8.5 million (US$1.9 million) was 44% lower year-on-year.
The Technical Support and Management division saw revenue fall by 11% to MYR26.7 million (US$6.0 million) due to lower performance in some of the TSM outlets, although segment profit grew by 52% to MYR9.1 million (US$2.0 million).
The smaller engineering services segment saw revenue down by 30% to MYR487,000 (US$109,615) and profit down 42% to MYR320,000 (US$70,030).
RGB said it remains confident in the group’s prospects given the strong market conditions in key markets like the Philippines, where nation-wide GGR reached Php285 billion (US$5.73 billion) in 2023 and is projected to hit Php336 billion (US$21.2 million) in 2024 with the opening of new casinos and the continuous expansion in the electronic gaming segment.
“As a pivotal slot machine distributor and major player in the machine concession business in the country, the Group is well positioned to capitalise on this industry growth,” it said.
“The Group remains vigilant for emerging opportunities including prospect of new and upcoming markets. Barring unforeseen circumstances, the Group expects to achieve a stronger performance in 2024.”
RGB has declared a third interim dividend of Third Interim Single Tier Dividend of RM0.006 per share and a Special Interim Single Tier Dividend of MYR0.012 per share, to be paid on 30 December 2024.
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