RGB International Berhad Acquires Gaming Machines and Stake in Philippine Casinos

On Monday, RGB International Berhad made a big announcement, announcing that it has reached an agreement to buy 86 gaming machines that are now operating in Philippine casinos, with a company connected to two of its directors.

As per the deal, RGB will give Timor Holdings S.A. $2.2 million in return for a 20% share of the profits made by the equipment through an active Product Leasing deal (PLA).

Through its business RGB Ltd., RGB will fully own the machines after the PLA is finished.

Timor Holdings S.A. was established in Timor-Leste and has a sizeable $10 million share capital.

Notably, Lim Tow Boon, the director of RGB, has a direct 30% ownership stake in the business. A further 30% of Timor Holdings S.A. is controlled by 1 Georgetown Ltd., which is also heavily owned by Lim and former RGB director Dato’ Seri Chuah Kim Seah.

RGB emphasizes it, considering the apparent improvement in the COVID-19 situation in the Philippines, this acquisition represents a solid investment opportunity. The purposeful placement of gaming machines in high-performing gaming establishments increases revenue for RGB’s Technical, Support, and Management (TSM) division. The company anticipates that it will receive its investment back in the next 24 months.

RGB has made a name for itself as one of the leading gaming equipment distributors in the Philippines, and it’s just getting bigger. Prior partnerships with well-known businesses like Aristocrat, Light & Wonder, and KL Saberi have improved its standing in the Philippines’ expanding gaming industry.

Original Story by: Inside Asian Gaming