RGB International reports US$13.3m revenue for Q2

RGB International's Q2 revenue rose 284 per cent year-on-year.
RGB International's Q2 revenue rose 284 per cent year-on-year.

The Malaysian casino services provider has reported total revenue of MYR55.47m ($13.3m) for the second quarter of the year.

Malaysia.- Casino services provider RGB International has shared its financial results for the second quarter of the year, reporting revenue of MYR55.47m ($13.3m), up 284 per cent.

The company posted profits of MYR601,000 (US$144,931), compared to a loss of MRY14.0m in Q2 2020. Earnings before interest, taxation, depreciation, and amortisation (EBITDA) for the second quarter was MYR14.3m. 

Revenue from RGB’s main sales and marketing division was up 197.5 per cent to MYR38.2m, mainly due to an increase in the number of products sold and variation in product mix offered.

Revenue from the technical support and management division was MYR17m, up from MYR1.5m thanks to more outlets having resumed operations. However due to restrictions to avoid a rise in Covid-19 cases, the segment recorded a loss of MYR9m.

For the last quarter of the year 2020, the company has reported a 60 per cent decline in revenue, with revenue from RGB’s main sales and marketing division down 62 per cent to MYR37.2m (US$9.2m).

Revenue from the technical support and management division decreased by 56 per cent to MYR14.9m (US$3.7m), generating a loss of MYR8.7m (US$2.1m).

Malaysia eases some restrictions for the fully vaccinated

The government of Malaysia has announced that certain countermeasures will be eased for fully vaccinated people, including the opening of hair salons, shops selling electrical goods, furniture, sporting equipment and car accessories.

The measure took effect on August 16. However, casinos have not reopened yet.

Resorts World Genting‘s casino has been closed since May. It closed all of its services in June, after Malaysian Prime Minister Muhyiddin Yassin announced a nationwide Covid-19 lockdown. Until then, the resort’s hotels, food and beverage outlets, shopping malls, retail outlets and other facilities remained open.

Maybank Investment Bank has predicted that Genting Malaysia’s Resort World Genting won’t reopen its doors until November. The government expects to achieve herd immunity in October with a daily rate of 400,000 vaccinates a day.

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