Poydras Gaming Finance Corp. reported earnings results for the first quarter ended March 31, 2016. Revenue grew to $3,690,423, representing an increase of 462% compared to $656,088 in first quarter of 2015. Adjusted EBITDA of $2,575,873, a 46 times increase from $54,421 in first quarter of 2015. Net income of $341,262 compared with net loss of $1,504,323 in first quarter of 2015. The increase in Adjusted EBITDA was driven by higher lease revenue in First Quarter 2016 as a result of the deployment of additional revenue generating machines during the quarter. The increase in revenue was mainly due to generating leasing revenue from an average of 2,471 gaming machines in First Quarter 2016 as compared to an average of 2,388 gaming machines in Fourth Quarter 2015 and 341 gaming machines in First Quarter 2015.

The company said that it is off to a strong start in 2016, on track to meet or exceed fiscal year 2016 goal of $10.0 million in Adjusted EBITDA.