RGB still keen to acquire stake in Timor Holdings

Wednesday 2nd of September 2015

Electronic gaming manufacturer RGB International Bhd says it is still interested in acquiring a stake in Timor Holdings Lda to gain a stronger foothold in Timor-Leste, according to local media.

The company, which is looking to achieve sales of 1,500 machines in 2015, operates in Timor-Leste through a concession of machines with Timor Holdings but is now focusing on distributing gaming machines in the country, The Sun Daily reported.

During an analysts briefing, RGB executive director Mazlan Ismail said the company will review the acquisition plan “when the time is right”.

RGB’s planned acquisition of a 30 percent stake in Timor Holdings fell through in July as Timor Holdings was unable to obtain the relevant gaming licence from the authorities.

“We’re confident that eventually it will come through, just give us some time,” he said.

RGB COO Steven Lim said RGB is on track to achieve its sales target of 1,500 machines this year despite a moderate sales performance of only 387 machines sold for the first half of the year.

“Definitely we’ll register better sales in the second half than first half,” he said, adding that there are about 300 machines on trial that he expects will be converted to actual sales.

Last year, RGB sold a total of 1,452 machines, pulling in RM143.16 million ($33.8 million) in revenue. For the six months ended June 30, 2015, it reported a 17.66 percent increase in net profit to RM10.89 million.