Casino e-games and services provider RGB International Bhd reported a net loss of 5.6 million MYR ($1.3 million) in the third quarter after posting a modest MYR601,000 profit in the previous quarter.

The group told Bursa Malaysia on Monday that its third-quarter loss was 53.4% lower than the same period in 2020.

The Malaysian company noted that sales in the three months to September 30 this year were up 75.3% year-over-year to nearly 70.1 million yuan.

There were no dividends recommended by directors in the third quarter of this year.

Group earnings before interest, taxation, depreciation and amortization (EBITDA) were just over 800,000 MYR during the period, compared to less than 2 million MYR in the same period a year earlier. Nevertheless, EBITDA was down 43.7% from the second quarter of 2021.

In the latest reporting quarter, sales in casino equipment sales and marketing, technical support and management, a major segment of RGB, increased sharply year over year.

For the first category, revenue was slightly below 56.8 million yuan, up 89.0% from the previous year. RGB attributed the growth to "increasing number of products sold and changes in product mix."

Technical support and management revenue was just 13.1 million yuan, up 36.8% year-over-year. The increase was "mainly due to more outlets resuming operations" in the reporting quarter, RGB said.

"However, most of these operating outlets are operating at limited capacity as part of measures to prevent the spread of COVID-19," it added. As such, the sector posted a loss of 7.2 million yuan during the quarter.

The company expected the market to "remain volatile" "in the liquidity of the COVID-19 situation" for the rest of 2021, especially in countries where it operates.

The group is also implementing "remote gaming solutions" for land casino operators as a new business to boost revenue.

BY: 카지노사이트