Poydras claims further expansion as finances rise in third quarter

Poydras Gaming Finance has said that in addition to posting year-on-year growth across key finances in the three months to September 30, it was able to expand its footprint with new and existing clients.

The slot machine leaser’s revenue in the third quarter amounted to $3.9 million (€3.7 million), 26.9% up on the corresponding period last year and 14.8% more than the second quarter of the current year.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) came in at $2.4 million, up 50.5% on the third quarter of 2015, although net loss increased from $1.1 million last year to $2.9 million in the most recent quarter.

Peter Macy, chief executive of Poydras, said: “Our results in the third quarter continued to demonstrate our strong year-over-year and quarter-over-quarter growth in both revenue and adjusted EBITDA as we continue to expand our footprint with both new and existing customers.

“Of particular note, we grew leasing revenue for the quarter by 19% over Q2 2016 on an increase of average number of machines installed of 3.5%, demonstrating that our ongoing efforts to maximise the value of our portfolio through analytics are producing results.

“We will continue to utilise and further enhance our proprietary database to further optimise our asset deployment.

“Looking forward, adjusted EBITDA for the full year 2016 should come close to our stated goal of $10 million and we expect to continue our consistent growth into 2017.

“Our business development pipeline is strong, with several deals under active consideration across multiple markets.

“We remain committed to continuing to build our business through organic growth, strategic partnerships, and accretive acquisitions.”

Related article: Poydras reveals ongoing revenue growth in Q2