Poydras reveals significant revenue jump in Q1
Poydras Gaming Finance has announced that it was able to achieve year-on-year revenue growth of 462% during the three months through to March 31.
Revenue in the first quarter totalled $3.7 million (€3.3 million), a stark contrast to the $656,100 collected in the same period last year.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to $5.6 million, 46 times more than the $54,400 generated in the first quarter of 2015, while net income improved from a loss of $1.5 million to a positive figure of $341,300.
Peter Macy, chief executive of Poydras, said: “We are off to a strong start in 2016, on track to meet or exceed our FY 2016 goal of $10.0 million in adjusted EBITDA.
“Organic growth during the quarter over Q4 2015 was driven by a full quarter of deployments for an additional 150 machines with our long‐standing customer the Cheyenne and Arapaho Tribes of Oklahoma.
“As we look towards the rest of 2016, we will continue to expand our machine base with new and existing customers in our core market of Oklahoma and Texas, as well as exploring opportunities in new markets.”
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