Best online casinos, casino ranking, payout and bonus portal
Gaming Partners International Corporation Closes Working Capital Loan
On Wednesday, a major manufacturer of table-game casino products, including decks of playing cards and chips, stated that the Gaming Partners International subsidiaries French unit, GPI SAS, closed a working capital loan valued at $1.9 million to finance new production expansions.
The loan will be used to buy additional equipment for manufacturing the companies unique radio frequency identification-embedded gaming chips. The chips have been in especially high demand lately. Additional orders, placed by newly opened and opening casinos in Macau, prompted the company to seek the 5 year fixed interest loan.
"Based on year-to-date sales and signed orders anticipated to be delivered in 2006, revenues from RFID gaming chips already are expected to exceed $16 million - an increase of approximately 3.5 times over last year," President and Chief Executive Gerard P. Charlier stated. He added that the loan will allow them to make improvements without impacting the short-term cash flow of the company.
Gaming Partners stock has plummeted $0.80 a share to $23.25 in trading on NASDAQ. The shares hit an all time low of $8.92 near the beginning of the year and have gradually increased in value over the past 6 months, nearing their previous high of $25.54.
Tuesday, January 02 , 2007
Brian Letendre