Financials do not even include full Q of Integrity revs!! Here is some highlights from the quarterly...
Third Quarter 2015 Highlights & Financial Results Revenue grew to $3,067,616, representing an increase of 464% compared to Q3 2014 and an increase of 237% compared to Q2 2015.
EBITDA of $1,570,625, representing an increase of $1,713,455 compared to Q2 2015.
Net income of $1,103,411 ($1.47 mil CDN) compared to a net loss of ($1,302,155) in Q3 2014.
Revenue- and interest generating machines in operation at quarter end were approximately 2,300, compared to 717 at the end of Q2 2015.
Other Highlights Subsequent to Quarter End The Company installed 114 machines at the Lucky Star Casino in Hammon, Oklahoma, a newly opened facility owned and operated by the Cheyenne & Arapaho Tribes of Oklahoma, a long-standing customer of the Company, with an additional 36 machines to be installed within the next 60 days.
Tonkawa Tribe of Indians of Oklahoma, Poydras is entitled to contractual minimum payments for all Class III machines placed with the tribe starting October 1, 2015 and as additional machines are deployed
"Our third quarter results reflect the promise and momentum of our business moving forward, with significant growth in revenue and adjusted EBITDA," said Peter Macy, CEO of Poydras Gaming. "This trajectory will be supported in part through the new funding facilities with PDS Gaming, which mark the next step in a long-standing relationship between our respective management teams. We are delighted to gain a flexible and non-dilutive capital partner in PDS, enabling us to accelerate our growth and rapidly expand our footprint in both our core market and in new markets."
said Johan Finley, founder, CEO and Chairman of PDS Gaming. "We believe that Poydras is very well positioned to capture opportunities in their target markets, and we are pleased to be a partner in funding their continued growth and success."
The Company's leasing revenue grew to $2,540,548 in Q3 2015, a 179% increase over Q2 2015 and a 367% increase over Q3 2014.
The Company's Adjusted EBITDA increased by $1,713,455 from negative ($142,830) in Q2 2015 to $1,570,625 in Q3 2015. Q3 2015 Adjusted EBITDA was negatively impacted by approximately $96,000 of legal, audit and consulting costs incurred in connection with the acquisition of the Integrity Companies.
The third quarter results include the consolidated accounts of PGFC, Platform 9 Corporation, Poydras Gaming LLC, Windy Hill Capital LLC and Poydras Street Finance II LLC for the full quarter, as well as the accounts of U.S. subsidiaries Aurora Gaming, Integrity Gaming, and Kansas from their date of acquisition of July 20, 2015.
As good as the financials are they dont even include a full quarter of Integrity revenues add another 20 days to these results or in time % basis add another 17% of the Integrity portion of the revs !!