KUALA LUMPUR (May 30): Electronic gaming machine maker RGB International Bhd (KL:RGB) has secured a contract worth US$81.33 million (RM382.97 million) from the Philippines’ state-owned casino regulator Philippine Amusement and Gaming Corp (Pagcor).

RGB, whose share price has climbed 54% year to date, said the contract was awarded to its wholly-owned unit RGB (Macau) Ltd to supply and deliver slot machine equipment for Casino Filipino Branches.

The project involves supplying 1,968 electronic gaming machines (EGMs) along with their related accessories, light-emitting diode (LED) signage and displays, according to the group’s filing on Thursday.

“The services to be provided under this project include logistics arrangement, installation of EGMs, signage and displays, as well as engineering technical and product training,” it said.

RGB said the new job win is expected to contribute positively to its earnings and enhance its net assets for the financial year ending Dec 31, 2024 (FY2024).

RGB also announced its net profit more than doubled to RM22.18 million in the first quarter ended March 31, 2024 (1QFY2024) from RM10.54 million a year earlier. Quarterly revenue also jumped twofold to RM210.11 million from RM95.16 million.

The better earnings were driven by higher contributions from its sales and marketing division, and technical support and management division.

The group declared an interim dividend of six sen per share, with June 27 as the ex-date and July 12 as the payment date.

Shares in RGB settled down two sen or 4.60% to 41.5 sen on Thursday, valuing the company at RM635.22 million.