RGB International reports 24.6% drop in Q3 revenue

The supplier said the overall decline in performance was due to temporary external factors, including delays in the launch of new sites.

Malaysia.- The casino equipment supplier and distributor RGB International Bhd has reported net profit of MYR4.4m (US$1.1m) for the third quarter, down 77.3 per cent from the same period last year. In its filing with Bursa Malaysia, the company reported revenue of MYR71.1m (US$17.3m) for the three months to September 30, a 24.6 per cent decline.

Sales and marketing of products accounted for the largest share of RGB’s third-quarter revenue, generating MYR57.3m (US$13.8m), a 26.1 per cent decrease. The segment’s profit fell by 14.2 per cent year-on-year to MYR7.3m (US$1.7m).

Adjusted EBITDA was MYR6.8m (US$1.6m), declining by 73.9 per cent year-on-year. The Technical Support and Management (TSM) segment contributed MYR13.0m (US$3m) in revenue, down by 20 per cent year-on-year.

The company declared a third interim single-tier dividend of MYR0.002 per share, payable on January 19. This represents a 50 per cent decrease from the two previous interim dividends.

RGB said: “The decrease is primarily attributable to weaker performance at several key TSM outlets driven by high jackpot payouts, and the continued closure of certain TSM outlets in the Poipet region [in Cambodia] since the end of the previous quarter.”

The supplier said the overall “decline in performance” was due to temporary external factors, including delays in the launch of new sites. The company said it remains optimistic about its medium- and long-term growth prospects, supported by robust underlying demand, particularly in key regions such as the Philippines.

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The supplier said the overall decline in performance was due to temporary external factors, including delays in the launch of new sites. Malaysia.- The casino equipment supplier and distributor RGB…