The Malaysian casino services provider has reported losses of US$2.94m for the third quarter.<\/p>\n\n\n\n\n\n\n\n
Malaysia.- Casino services provider RGB International has posted losses of MYR12m (US$2.94m) for the third quarter of 2020. That compares to MYR11.3m (US$2.77m) in profits after taxes for the same quarter in 2019.<\/p>\n\n\n\n
The company saw revenues of MYR40m (US$9.11m) for the period, down 64 per cent from MYR111.6m in the same three months last year.<\/p>\n\n\n\n
In the first nine months of 2020, the casino supplier took revenues of MYR131.8m, down from MYR219m in the same period last year. <\/p>\n\n\n\n
The company said in a filing on Monday that revenue and profit before tax for the sales and marketing division decreased by 63 per cent year-on-year.<\/p>\n\n\n\n
Revenue for the technical support and management division decreased by 69 per cent against 3 of 2019 due to the suspension of certain outlets and reduced operational capacity at others.<\/p>\n\n\n\n
Loss before tax of RM14.4m in the current quarter is mainly due to lower revenue and higher depreciation on new machines, the company said.<\/p>\n\n\n\n
The group sees a \u201cslow recovery on the gaming market\u201d and said it would continue to operate cautiously for the remainder of the year due to the high level of uncertainty. No dividend has been recommended for the quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Malaysian casino services provider has reported losses of US$2.94m for the third quarter.<\/p>\n","protected":false},"author":2,"featured_media":12237,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"RGB International, a Malaysian casino services provider, reported a Q3 2020 net loss of US$2.94m, a significant reversal from a US$2.77m profit in Q3 2019. Revenues plummeted 64% year-on-year to US$9.11m, primarily due to operational suspensions and reduced capacity. The company anticipates a slow recovery and will maintain cautious operations amidst high market uncertainty, recommending no dividend for the quarter.","focusai_entities":"RGB International","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.75), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Recovery Strategy?","query":"What specific strategic initiatives, beyond cautious operations, is RGB International implementing to accelerate revenue recovery and return to profitability in the face of persistent market uncertainty?"},{"label":"Market Comparison?","query":"How does RGB International's Q3 2020 performance, particularly the revenue decline and shift to loss, benchmark against other publicly traded casino service providers operating within the APAC region?"}],"footnotes":""},"categories":[163,16333],"tags":[226,23853],"class_list":["post-12235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-malaysia","tag-rgb-international"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=12235"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12235\/revisions"}],"predecessor-version":[{"id":12247,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12235\/revisions\/12247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/12237"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=12235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=12235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=12235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}