RGB International subsidiary acquires share in Philippine slot machines

RGB has secured a 20 per cent share in 86 gaming machines.

The Philippines.- RGB International (RGBI) has announced through a company filing that wholly-owned subsidiary RGB (RGBL) has entered into an agreement with Timor Holdings (THSA) to acquire 20 per cent of its interest in 86 gaming machines in the Philippines for US$2.2m. RGBL will be entitled to 20 per cent of takings from the machines, net of relevant taxes and joint expenses.

The company said the acquisition enhances the machine portfolio of the group’s Technical, Support and Management (TSM) division as these machines are located at some of the top-performing gaming outlets in the Philippines. It expects to recover its investment within 24 months.

See also: RGB International posts revenue of US$22.9m for Q4