Macau pushes GPI results up

The company said the primary reasons for the increase in revenue in 2011 were an increase of nearly us$ 7.7 million in revenue of European-style casino chips for Asian casinos, including Galaxy Macau and some SJM Holdings casinos.

Strong sales in Asia boosted GPI’s performance in 2011, company president and CEO Gregory Gronau said. “We closed out 2011 with a strong year for sales in Asia,” said Gronau. “This reflected the opening of the Galaxy Macau casino, with both chip and RFID solution sales, as well as rebranding and replacement sales with Macau, Singapore, and Malaysia casinos,” he added.

For the fourth quarter of 2011, the US-based company reported revenues of us$ 14.6 million and net income of us$ 600,000, compared with us$ 16.6 million and us$ 1 million for the same period a year earlier. Gross profit for the quarter was us$ 4.2 million.
 
The increase in revenue in 2011, however, was offset by a us$ 5.4 million decline in American-style casino chip revenue and a us$ 2.7 million fall in furniture, accessories and layout sales in the US.

 “For 2012, we expect to leverage our expanded chip mould making and design capabilities for our global customers to improve their chip security, branding and promotions. Additionally, we will continue to pursue potential strategic acquisitions and partnerships to grow our business," Groneau concluded.