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Redbox Expanding Kiosk Game Rentals Following Profitable Quarter

Following a quarter that supplied its parent company with $26.7 million in profit, Redbox has announced that it will expand its video game rental services to 5,000 additional kiosks across the U.S.
Following a profitable quarter for parent company Coinstar, Redbox has announced that it will expand its video game rental services to 5,000 additional kiosks across the U.S. Revenue for Redbox -- which positions kiosks at well-trafficked locations to provide low-cost movie and game disc rentals -- was reported at $363.9 million for the three months ending June 30, a 33.8 percent increase from revenue reported last year. According to the company, 4 million games have been rented from its 21,000 game-stocked kiosks to date. The program formally launched last month, following a series of market tests. "Whether customers are playing a new game or genre, trying a game before they buy it or simply entertaining friends and family, they're embracing the availability of games at Redbox," said Redbox VP of video games Joel Resnik in a statement on Thursday. The service offers games for current game consoles for $2 a day. The expansion of its games program, which begins August 1, will bring the total number of kiosks offering video games to approximately 27,000.

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