Entertainment Gaming Asia continues financial growth in Q3
Asian gaming operator Entertainment Gaming Asia has cited improvements in gaming products sales, gross margin and gaming operations as the key drivers behind further year-on-year financial growth during the three months through to September 30.
Revenue in the third quarter amounted to $8.3 million (€7.7 million), which represents an increase of 88% on the $4.4 million posted in the same period last year.
Revenue from gaming operations increased 13% to $4.5 million, while revenue generated by the company's gaming products division jumped from $437,000 in Q3 of last year to $3.8 million this year.
Elsewhere, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) was up from $1.6 million to $3.4 million while net income came in at a positive figure of $1.4 million, compared to a loss of $261,000 last year.
Entertainment Gaming Asia also noted that selling, general and administrative costs were cut from $1.4 million to $1.3 million during the quarter.
Clarence Chung, chairman and chief executive of Entertainment Gaming Asia, said: “We are pleased to report that the strong top and bottom-line year-over-year improvements achieved in the first two quarters continued in the third quarter of 2015.
“The primary drivers of our performance in the quarter and year-to-date were the significant improvements in gaming products sales and gross margin as well as the growth in gaming operations revenue.
“Our gaming products business benefitted from strong sales and production volumes for gaming chips and plaques for both a new casino opening and from existing customers, as well as increased sales of other high-margin third-party gaming products.”
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