Gaming Partners International saw a more than 51 percent increase in Q2 revenue, driven by surging demand for casino chips containing radio frequency identification (RFID) technology and surging sales in Asia.
The Nevada-based company reported total revenue for the period of $24.6 million. Sales of casino chips with RFID soared 360 percent to $5.5 million, while sales to casinos in the Asia Pacific region saw growth of 224 percent to $6.7 million.
GPI says it expects to win further business, especially in Asia, due to the high number of planned new openings. However, it said the timing of revenue recognition will be affected by the opening timetables and table allocations at the new properties.
It’s backlog of orders through to June 2019 is $21.5 million, which has declined due to the timing of receiving confirmed orders in Asia.
In January, GPI entered into global licensing and development agreements with BrainChip Holdings Limited and Xuvi to jointly develop products to provide a table management solution that would combine visioning technology and immersive data analytics with RFID technology to better secure table currency, increase fraud protection, improve table productivity, and provide data for player behavior applications.
“GPI’s initial commitment to BrainChip Holdings Limited and Xuvi, LLC totals $1.3 million. Due to positive customer response, we plan to commit a minimum of $0.5 million in the second half of the year to develop product enhancements and speed up product development,” it said.