PETALING JAYA: RGB International Bhd
’s near-term earnings outlook is improving, supported by stronger demand for its electronic gaming machines (EGMs) and a gradual recovery in its technical support and management services (TMS) segment.
Over the longer term, the manufacturer, supplier and services provider of EGMs and casino equipment expects growth to come from new gaming markets such as Vietnam and the United Arab Emirates.
Phillip Capital Research said RGB is targeting EGM deliveries of between 3,000 and 3,800 units this year, compared with 2,300 units in 2025.
“This is underpinned by healthy order replenishment from both replacement demand of about 2,000 to 2,500 units and new integrated resort (IR) projects of between 1,000 and 1,300 units,” it said.
The research house noted that RGB has already secured about 2,000 units of orders year-to-date, including around 1,000 units from a new IR project in the Philippines, with deliveries slated by the third quarter of 2026 (3Q26), alongside a potential additional 200 units expected to be delivered by 4Q26.
Furthermore, it noted that RGB’s TMS segment is poised for recovery despite the continued closure of the Cambodia-Thailand border.
“The TMS earnings outlook continues to improve, supported by cost rationalisation in Cambodia and stronger customer traffic trends in Laos,” it said.
The research house said RGB’s outlet rationalisation initiatives and a 50% workforce reduction in Cambodia are expected to support profitability recovery, while rising Thai visitor traffic into Laos from 2Q26 onwards should strengthen TMS sales and earnings contribution.
Over the longer term, Phillip Capital Research said RGB remains optimistic on its expansion into new gaming jurisdictions.
