Gronau’s resignation is for personal reasons, and not a result of any disagreement with the company or its management. He will provide part-time consulting services to the company following his date of departure until December 31, 2018 in exchange for payments of US$10,000 per month.
Chief Financial Officer and Chairman of the Board, Alain M. Thieffry, age 62, will act as the ompany’s CEO, President, Secretary, and Treasurer beginning September 21, 2018, until a successor is appointed.
The announcement was made prior to GPI delivering improved second quarter results with revenue up 51.6 per cent to US$24.7m due to better business in the Asia-Pacific region.
The company stated: “Sales in Asia came in at US$6.8m, up from US$2.1m in the pyear earlier. The company highlighted a buildup of outstanding signed orders totalling US$21.5m.
“We anticipate winning additional business, particularly in the Asia market due to the number of planned casino openings and expansions in the region,” GPI added. “However, there is always uncertainty surrounding the timing of casino openings and the number of tables to be allotted to each new casino, which will impact both the amount of revenue we recognise and the timing of revenue recognition.”
“Due to positive customer response, we plan to commit a minimum of US$0.5m in the second half of the year to develop product enhancements and speed up product development. to provide a table management solution that would combine visioning technology and immersive data analytics with our RFID technology,” the company concluded
Source: GMB / G3 Newswire
