Gaming Partners International Corp (GPI) is one of the latest companies to release its financial report for the second quarter of the year. 2018 has been particularly kind to the company, which reported net income of $2.5 million for the period, up from a $49,000 profit seen during Q2 last year. GPI’s revenue for the quarter was $24.7 million, an increase of 51.6% year-on-year and the company has its operations in the Asia-Pacific region to thank for the boost.

In its filing with the NASDAQ stock exchange last Friday, GPI said, “The increase in our revenues and net income… was primarily due to an increase in casino currency sales, table accessories and furniture, partially offset by an increase in research and development expenses.”

Research and development expenses at the company increased by $0.7 million to $1 million for the period, a huge jump of almost 199%. According to GPI, “The increase is mainly due to payments made to BrainChip Holdings Ltd and Xuvi LLC for achieving certain milestones in our global licensing and development agreements.”

GPI announced in January of this year that it had signed licensing and development agreements with the two companies in order to develop products that would “provide a table management solution that would combine visioning technology and immersive data analytics with our RFID technology.”