Scientific Game

Ourgame revamp on track despite further 3Q17 losses

Wednesday, 29 November 2017 05:19
Share
Visit us

Chinese poker, eSports and online gaming company Ourgame Holdings Ltd says its business revamp is making solid progress, despite another tough quarter that saw revenue plummet 37.4% on the same period in 2016.

Ourgame reported revenue of RMB142.3 million (US$21.5 million) for the three months to 30 September 2017, down from RMB227.4 million (US$34.4 million) 12 months earlier and a 6.8% decline on second quarter revenue of RMB152.7 million.

However, the company saw its loss narrow sequentially from RMB23.7 million (US$3.6 million) in 2Q17 to RMB5.1 million (US$772,400) in the third quarter as it implemented major changes to its core products.

Those changes include adding new user features and third-party payment methods including WeChat Pay and Alipay.

“We expect that within the fourth quarter of 2017, we would have completed the launch of our new third-party payment based mobile games products into most of our key distribution channels and the majority of our mobiles games income will be through WeChat, Alipay and other third-party payment channels. Our new third-party payment based mobile products will bring significantly better payment channel stability and enhanced margin to our mobile businesses going forward,” it said.

Ourgame has also initiated its plan to expand its World Poker Tour (WPT) brand into new markets, most notably Japan, India and Brazil. The company held its first ever WPT Brazil live tournament series in August and followed that up with the inaugural WPT India earlier this month.

Ourgame added that its eSports business, Allied eSports, launched its Shenzhen eSports Arena in September with partner Shenzhen SaiGe, stating that, “With the rapidly expanding arena venue network, branded tournaments and content production, AES continued to solidify its leadership position in the eSports space and will be actively seeking strategic partners to accelerate its growth.”

Revenue from Ourgame’s key Chinese customer based declined 37.9% to RMB122.7 million in 3Q17, including a 6.1% sequential decline.

 

 

 

What's new

Okada Manila delays, Wynn Resorts litigation lead to Universal profit slump

Okada Manila delays, Wynn Resorts litigation lead to Universal profit slump Japan’s Universal Entertainment Corporation has recorded a net loss of ¥13.43 billion (US$125.4 million) for the nine months to 31 December 2017, a significant decline from its previously announced forecast due to construction expenses at Okada Manila, sluggish pachinko and pachislot sales and on... Thursday, 15 February 2018 06:48

Kenneth Rosevear retires from MGM China board

Kenneth Rosevear retires from MGM China board MGM China has announced the resignation of Kenneth Rosevear as a non-Executive Director. Rosevear steps down from the role just a day after the launch of the company’s new Macau integrated resort, MGM Cotai, which opened with a lavish ceremony on Tuesday. MGM said that Rosevear’s departure was... Thursday, 15 February 2018 06:47

Parisian Macao hits five billion social media impressions

Parisian Macao hits five billion social media impressions Sands China’s newest Macau integrated resort, The Parisian Macao, has attracted more than five billion impressions since opening in September 2016. The milestone was revealed by Chairman and CEO Sheldon Adelson in a filing to the Hong Kong Stock Exchange overnight outlining Sands China’s finan... Thursday, 15 February 2018 06:27

Sega Sammy shares sale sees shuffle of stakeholders

Sega Sammy shares sale sees shuffle of stakeholders Sega Sammy Holdings Inc’s Chairman, CEO and largest shareholder, Hajime Satomi, has sold off 74% of his stake in the company to an asset management firm controlled by he and his family. The sale of 23,558,000 shares to HS Company represents 10.12% of Sega Sammy’s issued share capital and has re... Thursday, 15 February 2018 06:02

Current Issue

Design For Profit

Design For Profit Architect Paul Steelman provides his insights into designing the most expensive privately funded buildings on earth and making and breaking trends. By Muhammad Cohen | Editor-at-Large EMINENT casino architect Paul Steelman helped create the Asian gaming boom with the groundbreaking design of Sands... Monday, 29 January 2018 15:11

Climbing the mountain

Climbing the mountain   ASX-listed Silver Heritage Group finally launched hotel and casino operations at its new Tiger Palace Resort Bhairahawa in late 2017, having survived the 2015 earthquake, a fuel blockade on the Nepal-India border and an AU$19 million (US$14.4 million) funding shortage as a result of the delays. ... Monday, 29 January 2018 15:07

Can sportsbooks survive a 1% tax on handle?

Can sportsbooks survive a 1% tax on handle?   The big news coming out of the United States this year is the likely striking down of the federal ban on sports betting. But with many states licking their lips in anticipation of added tax dollars, the sports betting industry may well have another crippling fight on its hands. THE US Supreme C... Monday, 29 January 2018 15:05

Herman Ng:Macau Pioneer

Herman Ng:Macau Pioneer Inside Asian Gaming discovers a bit more about Herman Ng, CEO and Executive Director of Macau-based slot machine services firm Asia Pioneer Entertainment (APE). Ben Blaschke: Can you start by telling us a bit about yourself and your background? Herman Ng: I grew up in Macau and then when I was 16 ... Monday, 29 January 2018 14:52