RGB Soars in Q1, Eyes Growth in Booming Philippines Market

RGB International, a Malaysian casino supplier, reported higher profits and sales for the first quarter of 2024. The company attributed this to favorable market conditions and well-thought-out positioning in the Philippines.

Revenue increased by 120.8% year over year to RM210.1 million ($44.6 million). RM22.2 million ($4.73 million) in profit was made, up from a loss the prior quarter. The company attributed its success to the Philippines’ booming market and increased product sales.

Philippines Concentration Increases Optimism: RGB projects a prosperous future, citing PAGCOR’s projected growth in 2024 and record-breaking 2023 GGR. Expanding electronic gambling and opening new casinos are projected to help RGB, a major player in the Philippine sector.

With a confident outlook, RGB announced a dividend and expressed hope for 2024, if nothing out of the ordinary happens. They want to take advantage of opportunities in emerging markets and expand on their current success.

Original Story by: Asian Gaming Brief