Inside Asian Gaming

IAG JUL 2019年7月 亞博匯 48 for them to conceptualize, develop, produce and launch a game in its entirety. That’s a big development in less than 18 months for a group of people. We’re very, very proud of what they’ve done in Beijing. In releasing the first of its games, “Golden Palace”, we’ve taken our time. We didn’t want to rush out a game. It’s at version 5.5 because we wanted to keep refining it to get it right. We made a conscious decision to invest in quality because once we get it right the first time we know the flow-on will be very positive. So that is one of the benefits of the organizational change. It’s the same with the Australian studio which has gone from relying on taking concepts out of the US to develop and remake, to now actually being an exporter of content or concepts from Australia to the US. BB: IGT’s 1Q19 results showed a 5%decline in revenue and 4% in Adjusted EBITDA, which equated to a 1% fall in revenue and steady Adjusted EBITDA at constant currency. What should we read into those results? WB: We were significantly impacted by foreign 需要回歸到一個恆定匯率。從恆定匯率的角度來看，我們的收入 實際上與去年同期持平。主要因為去年我們有一些重要的系統商 品銷售，但這同樣可以發生在任何一個時期。 去年我們與美獅美高梅有非常重要的業務，今年雖沒有，但 今年我們通過增加遊戲機組的銷量來替代。遊戲機組的勢頭指 向，我們在過去18個月在遊戲內容方面投入的大量資源開始漸漸 獲得成果，我們對此非常滿意。 系統方面的業務將繼續是零星的，而我們的核心業務會持續 營運。若一旦有新機會出現，便可能另創高峰，但若沒有便可能跌 回谷底。 總的來說，我認為第一季度是我們業務增長的延續，並在遊 戲產品重新出發 。 exchange, so in trying to understand our results you really need to go back to constant currency and from a constant currency perspective our revenues were effectively flat year-on-year. That was driven by the fact that last year we had some significant systems product sales which can happen in any given period. We had MGM Cotai last year which was a significant piece of business that doesn’t repeat itself this year, but we replaced that via an increase in gaming machine unit sales. The momentum on the gaming machine side tends to indicate that a lot of the work we’ve invested in the past 18 months in terms of content is starting to gain traction. We were quite pleased with that outcome. Systems will continue to be sporadic. We have our core maintenance business which is recurring but if there is a new opening you get a peak, if there are no openings you get a trough. Overall I think Q1 was a continuation of the growth of our business and getting back onto the front foot when it comes to the gaming side. INSIGHT