GPI 15Q2 revenues up 59.1 percent

Wednesday 12th of August 2015

Gaming Partners International, a manufacturer and supplier of casino currencies, playing cards and other gaming products, announced its 15Q2 revenues were $16.2 million, up 59.1 percent year on year.

For the second quarter, net income before taxes was $0.5 million compared with a pretax loss of $1.0 million in the same period of the prior year.

The company said the improved results for the three months ended June 30 were primarliy due to the additional business generated by the GemGroup Acquisition. GPI acquired all of the net gaming assets of GemGroup for $19.75 million on July 1, 2014. GemGroup was a manufacturer of playing cards, casino currency, and table layouts primarily sold under the Gemaco brand.

For the first six months of 2015, GPI revenues were $34.9 million, an increase of $14.1 million, or 68.0 percent, compared to revenues of $20.8 million for the same period of 2014.

For its outlook for the rest of the year, the company said on April 29, 2015, it received a $7.2 million order to supply gaming chips and plaques for a new casino in Macau. The order includes the Company’s Bourgogne et Grasset brand of plaques as well as the newly released V-Series American style chips. This order is expected to deliver later this year.

“Several large casino openings are planned for early 2016 and beyond in the Asia-Pacific region. Accordingly, we anticipate that our 2015 currency revenues will be higher than 2014. We will continue to experience a significant increase in playing cards and table layout revenue as a result of the GemGroup Acquisition. Playing cards in particular will be a larger percentage of overall revenue than in past quarters,” the company said.

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