Monday, August 08, 2022

GPI swings to a profit in 16Q2


Gaming Partners International reported net income of $2.1 million in the second quarter ended June 30, 2016, compared to a net loss of $0.1 million in the same quarter in 2015.

According to a recent filing, turnaround was primarily due to an increase in casino currency sales in the United States and an increase in sales of RFID solutions in Asia.

For the second quarter of 2016, the company posted revenues of $20.3 million, up from $16.2 million in 2015.

“We are quite pleased with our sales and net income for the second quarter of 2016. Increased sales of casino currency, RFID solutions and consumables compared to the same period last year drove these improved results,” commented Gregory Gronau, GPIC president and chief executive officer.

“Our recent acquisition of Dolphin’s gaming currency assets will help further strengthen our market position in Asia. We have a backlog of $13.1 million in orders from the Asia market, up from $9.1 million at the same time last year. In the United States, the rapid growth of our playing card business is helping to produce higher revenues but has generated operational challenges. In response, we have invested significantly in additional equipment and anticipate the opening of our expanded facilities in the second half of 2016.”

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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