Entertainment Gaming Asia secures 2015 profit due to higher slot operations revenue

Slot machine contractor and gaming chip manufacturer Entertainment Gaming Asia secured a profit in 2015 as a result of higher slot operations revenue, as well as higher sales of gaming chips and plaques due to several new casino openings.

The group reported net income increased approximately $3.7 million to $820,000 for the year ended Dec. 31, 2015 compared to a loss of $2.8 million in the year prior, according to a recent filing.

Total revenue increased approximately 40.6 percent, or around $9.1 million to $31.5 million in 2015, compared to approximately $22.4 million in the year prior. The company said the increase was a result of “higher slot operations revenue from NagaWorld partially offset by lower revenue from the Philippines operations,” as well as “the gaming products division increased primarily as a result of higher  sales  of  gaming  chips  and  plaques  for  initial and  follow  on  orders for  several new  casino  openings  as  well as  to  existing  customers.”

The group recently renewed their machine lease agreement with Nagaworld to lease 670 of their machines on the Nagaworld casino floor. The company said it has also begun the development of an online social casino platform.