PCGE is already bearing early fruits from its acquisition of Center Point Development Corporation. Group revenue rose to around $750,000 in the first half of the year, giving a gross profit of £256,000. Cash in the business as of June 30 was $720,000.
The company has had an active year, having listed on AIM in December last year, undergone a temporary suspension in February 2015, followed by readmission in August 2015 with the acquisition of CPDC.
In July the company said that the cash flows from CPDC would be transformational. PGCE distributes gaming software and services in Asia and agreed in February to acquire CPDC for $20 million.
PGCE focuses on the China gaming market, valued at $18 billion in 2014 and analysts calculate will grow substantially to over $22 billion over the coming year.
“The merger also increases the number of territories in which the group has a presence and enables us to benefit from the gaming experience, local knowledge and the strong relationships the CDPC management has built up in the region amongst major gaming software distributors and agents,” said Nicholas Bryant, CEO.
In line with PCGE’s stated strategy, the Company is focused on the development of business in the media and gaming industry across the Asia-Pacific region. It aims to continue growth through further acquisition and exploitation of licenses in China, and the acquisition of CPDC represents a transformational first step in the process.
The media and gaming sectors are among the fastest growing in China. McKinsey calculated that China’s online gaming market, valued at US$18bn in 2014, will grow substantially to over $22 billion over the coming year. PCGE offers safe, transparent exposure to this sector for western investors.