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Malaysia’s RGB International secures UAE gaming vendor license

Posted on by Admin VietNamGaming

01-10-2020 |  

RGB International Bhd has secured a vendor license in the United Arab Emirates (UAE) allowing it to sell electronic gaming machines, positioning the Malaysia-based supplier for potential opportunities ahead of the expected opening of the UAE’s first legal casino at Wynn Al Marjan Island in 2027.

The application, submitted about a year ago, was recently approved by UAE authorities, executive director Ganaser Kaliappen said, according to local media outlet The Edge Malaysia. RGB has paid processing fees of about MYR10,000 ($2,506) ahead of the formal issuance of the license.

“This effectively enables us to operate as an approved vendor for the supply of machines, as well as related services and maintenance in the region,” Ganaser said at the company’s earnings briefing on Wednesday.

The development comes after Wynn Resorts received the UAE’s first commercial gaming license from the General Commercial Gaming Regulatory Authority (GCGRA), which regulates, licenses and supervises commercial gaming activities and facilities in the country.

“While operations are still some time away, it puts us in a good position to build relationships and explore future business opportunities, whether in machines, services or related offerings,” Ganaser said.

RGB, a total solutions provider of electronic gaming and amusement machines, operates across Malaysia, Cambodia, Laos, Vietnam, Singapore, Macau and the Philippines. The company is targeting sales of about 3,000 units this year and has secured around 2,000 orders to date, including 500 machines sold in the first quarter.

Chief operating officer for leisure Chuah Eng Meng said sales could reach 3,500 to 3,800 machines if geopolitical tensions in the Middle East and between Cambodia and Thailand improve. He said demand is coming from the Philippines, while RGB is also in discussions with Vietnam and seeing leasing demand from Cambodia.

RGB reported first-quarter net profit of MYR9.32 million ($2.35 million), down 23 percent year-on-year, while revenue rose 19 percent to MYR87.38 million ($22.01 million).

Source: AGBrief

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