RGB International formalises deal to lease EGMs in the Philippines

RGBL will lease 432 electronic gaming machines across 18 casinos.

Malaysia.- RGB International (RGBI) has announced that its wholly-owned subsidiary RGBL has finalised an agreement to lease 432 electronic gaming machines (EGMs) and related accessories to 18 casinos in the Philippines. The agreement is an amendment to an original agreement established in 2019,

According to a filing, the total investment value of the project is US$15.5m. Although the details of the venues were not disclosed in the announcement, RGBI has said the agreement includes the companies Pinnacles and Timor Holding.

RGBL’s portion of the project cost is approximately US$4.5m, covering 50 per cent of the 432 EGMs and 50 per cent of the additional accessories, after accounting for depreciation up to August 3, 2021.

In June, the company announced that its Macau wholly-owned subsidiary received an order from the Philippine Amusement and Gaming Corporation (PAGCOR) for 1,968 electronic gaming machines (EGMs) and related accessories, including LED signage and displays.

See also: RGB International stresses it won’t be impacted by ban on offshore gaming operators