IndigoVision boost as casinos keep spending

Published on Thursday 12 March 2009 20:28

INDIGOVISION, the digital CCTV specialist, has reported a 16 per cent rise in first-half sales after continuing to pick up casino and government business in the US.

Chief financial officer Marcus Kneen said yesterday that sales to the gaming industry continued to grow, but expressed some surprise. He said: "I thought that with the recession biting into their takings they might slow down spending, but they have to increase their security because the people gambling want to try and take money off them."

The Edinburgh-headquartered firm had already installed cameras in casinos in Latin America and in the US, but Kneen said winning its first casino on the legendary Las Vegas "strip" was a major milestone.

IndigoVision's equipment has also been endorsed by the Nevada Gaming Commission, the regulatory body that oversees Las Vegas casinos, with other vendors yet to be awarded the endorsement.

During the period, the Scots firm won a deal to supply cameras for all of the border crossings from Canada into the US.

First-half sales rose to 10.7 million, although pre-tax profits dipped 5 per cent to 1.2m as the group built its sales force.

Indigo said the start of the second half was "materially" ahead of the same time last year. The shares lost 10p to 240p.