Poydras Gaming Finance, a slot route operator that provides capital and gaming machines to casino operators, has announced 2016 fourth quarter and full-year financial results.
The company reported an 84 per cent growth in revenue in 2016 compared to 2015, with a 159 per cent growth in adjusted EBITDA. Altogether there was a net loss of US$6.5m, or $0.19 per share, for 2016, compared to $2.9m, or $0.12 per share, for 2015.
"The strong growth in revenue and adjusted EBITDA we generated in 2016 is a reflection of the successful execution of our strategy to expand our deployed-machine base and optimise placements to support improved financial performance," said Peter Macy, chief executive officer of Poydras Gaming.
"In 2016 we took steps to strengthen our balance sheet and access to capital to support an array of growth initiatives, including: increasing machine deployments with a focus on reducing customer concentration and expanding geographic reach, accessing new, in-demand gaming technologies to enhance the end-customer entertainment experience and consolidating our interest in a high performing joint venture. Going forward, we are well positioned to drive further increases in deployments as well as placements in new western US markets."
