GPI reports net income of US$6.9 million in 2015

Casino currency and table gaming equipment manufacturer Gaming Partners International Corporation posted net income of $6.9 million for the year ended Dec. 31, 2015, up from $2.7 million in 2014, according to a recent filing.

The Nasdaq-listed supplier reported revenue at $78.2 million, compared to $61 million in 2014. According to the company, the increased revenue and net income was attributed to the successful integration of the leveraging of the 2014 acquisition of Gemaco, Inc., as well as new casino openings in Asia.

“2015 was a very good year for GPIC. The expanded manufacturing capabilities and operational efficiencies obtained from a successful integration of Gemaco positively impacted our revenues and bottom line. In 2015, our playing card sales accounted for nearly 31 percent of revenues, up from 25 percent in 2014,” said Greg Gronau, president and chief executive officer of GPIC. “We were successful in winning new playing card business in the United States and significant casino currency orders in Asia. These wins combined with an increased demand for our other product lines resulted in strong revenue growth and net income for the year.”

For the fourth quarter of 2015, the company posted a net income of $3.4 million, compared to $2.2 million in 2014, and reported revenue at 23.5 million for the quarter, up from $19.9 million for the same period in 2014.