Malaysian gaming product distributor RGB International Bhd has reported group-wide revenue of MYR73.6 million (US$17.3 million) for the three months to 31 March 2025, down 65% year-on-year due to a lower number of products sold.
The figure was also 79% lower than 4Q24, including an 85% decline in revenue in RGB’s core Sales and Marketing segment to MYR50.5 million (US$11.9 million). The December 2024 quarter was boosted by a bulk order of slot machines delivered to Philippine gaming regulator PAGCOR for installation at its Casino Filipino properties, with RGB having previously reported record sales and profit for FY24.
Revenue in the Technical Support and Management segment was also down 32% year-on-year, although only 1% quarter-on-quarter, to MYR22.6 million (US$5.3 million) due to the lower performance of related outlets, although segment profit soared by 38% to MYR7.2 million (US$1.7 million) due to lower depreciation cost for machines during the quarter.
Group-wide profit fell by 51% to MYR13.5 million (US$3.2 million) again as a result of the decline in the Sales and Marketing segment.
Nevertheless, RGB said its prospects for 2025 and beyond remain robust, “bolstered by promising market conditions, especially in key areas including the Philippines and Cambodia.
“PAGCOR has announced that the country’s GGR in 2025 is targeted to hit a record Php450 billion (US$8 billion). Additionally, the Group is strategically expanding its presence in Cambodia. As a pivotal slot machine distributor and major player in the machine concession business in the region, the Group is well positioned to capitalise on this industry growth.”
RelatedPosts
