Malaysian gaming equipment distributor RGB International Bhd has delivered a record-breaking performance in the fourth quarter of 2024, with revenue surging 271% year-on-year to MYR 371.8 million (US$83.9 million). The company posted a profit of MYR 49.9 million (US$11.3 million), reversing a MYR 36.7 million (US$8.3 million) loss from the previous year.
Fourth-quarter revenue accounted for nearly half of RGB’s full-year earnings of MYR 775.7 million (US$175 million), reflecting an 11% annual increase. This impressive growth was primarily driven by the completion of a large electronic gaming machine (EGM) order for the Philippine gaming regulator, PAGCOR.
Strong Performance Across Key Segments:
- Sales and Marketing revenue surged 338% to MYR 348.4 million (US$78.7 million), thanks to the bulk EGM order.
- Technical Support and Management revenue grew 20% to MYR 22.7 million (US$5.1 million).
For the full fiscal year 2024, RGB recorded a profit of MYR 116.0 million (US$26.2 million), marking a 254% year-on-year increase.
Looking ahead, RGB remains confident in its future growth, citing favorable market conditions, particularly in the Philippines and Cambodia. The company is strategically expanding its footprint in Cambodia and strengthening its position as a leading slot machine distributor and concession business operator in the region.
PAGCOR has projected record-breaking Gross Gaming Revenue (GGR) of Php 334 billion (US$5.8 billion) in 2024, with an even higher target of Php 350 billion (US$6.0 billion) for 2025.
RGB stated that it remains alert to new opportunities, including emerging markets, and anticipates solid performance in 2025, barring any unforeseen circumstances.
