According to the managing director of RGB International Bhd, the company plans to sell some 4,000 gaming machines, worth RM500 million ($107 million), in the overseas market this year.
Datuk Seri Chuah Kim Seah said that Cambodia, Laos, Vietnam, Timor Leste, and the Philippines are the main market for the gaming machine business.
Speaking to Malaysian media The Star, Chuah said the company is expecting to deliver half of the 4,000 machines by mid-year, and that in the same period the Malaysia-based electronic gaming machine manufacturer has leased out about 5,000 gaming machines, which will generate some RM100million ($21.4 million) in revenue this year.
A fire incident in Cambodia last year led RGB to write off RM5.8 million (1.24 million) in machines. “After the write-off, we still made RM3.9 million ($840,000) in net profit,” Cheah said.
RGB reported profit growth of 418 percent yearly, to RM10.5 million ($2.3 million), for the quarter ended March 31st, 2023.
In its 1Q23 results announcement, RGB outlined the improved performance, with its consolidated revenues rising by 197 percent year-on-year to RM95.2 million ($20.7 million). However, revenues were down 21 percent compared to the 4Q22.
The Sales and Marketing segment revenues jumped 367 percent, to RM69 million ($15.0 million), with profit up 345 percent to RM10.4 million (US$2.3 million), mainly due to an increase in number of products sold.
Even with solid growth this year, the managing director of RGB notes that as the company’s businesses are located in various countries in Asia, and that any changes in each country’s regulations and policies may have an impact on their operation.
