Poydras reveals ongoing revenue growth in Q2
Poydras Gaming Finance has followed up on an impressive performance in the first quarter by achieving further year-on-year growth in the three months through to June 30.
Revenue in the second quarter came in at $3.4 million (€3 million), up by 272% on the $940,465 posted in the same three-month period last year.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) also increased from a loss of $142,830 to just under a positive of $2 million, with net loss falling from $1.5 million to $946,100.
Peter Macy, chief executive of Poydras, said: “Our results in the second quarter continued to demonstrate our strong year-over-year growth, but were somewhat muted by seasonality in our core markets when compared to our first quarter results.
“Additionally, results were impacted by 145 machines being offline for a majority of the quarter as they were being prepared to be moved to other facilities.
“Many of these machines have since been redeployed in Q3 2016 under a new long-term contract.
“With these machines back online as well as the addition of more new machines to fully satisfy our recently-announced 234 machine contract, and the purchase of the remaining 50% of our joint venture with A&W, we remain on target to meet or beat our 2016 Adjusted EBITDA target of $10 million.”
Related article: Poydras reveals significant revenue jump in Q1