Casino currency and table games equipment manufacturer, Gaming Partners International Incorporated, has reportedly released its second-quarter financial results showing an over 116% increase year-on-year in its gross profit to $8.33 million.
Growing Asian trade:
According to a Wednesday report from Asia Gaming Brief citing an official press release from Gaming Partners International Incorporated, the Las Vegas-headquartered innovator’s bottom line for the three months to June 30 was boosted largely thanks to rising sales in Asia as well as escalating demand for its chips featuring radio frequency identification (RFID) technology.
This reportedly saw Gaming Partners International Incorporated record an over 51% swell year-on-year in second-quarter revenues to just over $24.67 million as the proportion of its income from Asian customers climbed by 14.6% to hit 27.4%.
RFID sales rocket:
The Nevada firm explained that sales of its RFID casino chips during the three-month period had soared by 360% year-on-year to $5.54 million and represent approximately 22.5% of its total revenues…
It moreover detailed that its non-RFID counterparts remained popular as the $5.67 million in quarterly sales of these innovations embodied about 23% of its business.
Half-year figures improve:
For the six months to the end of June, the American firm saw its gross profit improve by some 37% year-on-year to $13.27 million with its associated revenues of $43.36 million representing a surge of approximately 23%.
Innovator remaining optimistic:
The brand stated that the rising number of new casinos for Asia means that it expects to continue to securing sales from the planet’s largest continent. It furthermore declared that it currently held backlogged business worth some $21.5 million although this was down due to the delays often associated with receiving confirmed orders.
Asia Gaming Brief reported that the innovator’s future prospects are also set to be helped by its recent signing of global licensing and development agreements with Xuvi and BrainChip Holdings Limited.
These deals are seeing the trio work together in order to develop a new table management solution complete with pioneering visioning technology and immersive data analytics for better security, productivity and player data acquisition.