Gaming Partners International has posted positive first quarter results on the back of stronger sales in Macau.
For the three months to March 31, GPI achieved revenues of $17.8m and net income of $1.7m, compared with revenue of $10.9m and income of $37,000 for the corresponding period last year.
Gross profit for the quarter stood at $6.3m, up from $3.7m for the first quarter of 2010.
The company attributed the increase in its first quarter income to higher sales of chips to casinos in Macau.
"We are pleased with our strong first quarter results, due to delivery of a significant chip order for the pending Galaxy Macau casino opening," said Greg Gronau, president and chief executive officer. "Given projected casino openings and our sales backlog for 2011, revenues and earnings in the next three quarters may not reach the same levels that we saw in the first quarter."
