• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Amax flags wider loss in fiscal year to March 31

Jun 12, 2017 Newsdesk Industry Talk, Latest News, Macau  


Amax flags wider loss in fiscal year to March 31

Casino services investor Amax International Holdings is giving a profit warning for the fiscal year ending March 31, 2017.

The Hong Kong-listed group stated in a Friday announcement it was expected to record “an obvious increase in loss when compared with net loss attributable to owners of the company of HKD43.1 million (US$5.53 million) in the corresponding period in 2016”.

Amax attributed the likely increase in loss to “provision for impairment loss on amount due from an associate of the company, namely Greek Mythology (Macau) Entertainment Group Corp Ltd, in the amount of HKD63.6 million; provision for impairment loss on fair value of Greek Mythology in the amount of HKD837.6 million; and provision for impairment loss on fair value of the gaming licence for the gaming business in Vanuatu in the amount of HKD39.6 million”.

The chairman of Amax International is Macau junket veteran Ng Man Sun. The company controls 24.8 percent of Greek Mythology, which has operated gaming tables in Casino Greek Mythology in Taipa, Macau, under the SJM Holdings Ltd gaming licence.

The casino was shut down by the Gaming Inspection and Coordination Bureau of Macau on December 31, 2015 at the request of SJM Holdings. At the time, SJM Holdings’ chief executive, Ambrose So Shu Fai, told the Macau public broadcaster TDM that the closure was for renovation.

The Beijing Imperial Palace Hotel, where the Casino Greek Mythology was located, has also been shuttered since July 22, 2016 under the order of the Macao Government Tourism Office due to “serious administrative irregularities” and “illegal reconstructions”. The closure was for a period of six months. The operating licence was later handed back to the city’s authorities before the sanction expired.


  • tweet
Related articles
  • APE expects narrower year-to-Sept loss, on lower revenue
    APE expects...

    Nov 01, 2021  

  • Jeju op Landing Intl says 1H loss down, gaming rev dips
    Jeju op Landing Intl says 1H loss...

    Aug 16, 2021  

More news
  • Pragmatic Play to offer its slots via online platform bet365
    Pragmatic Play to offer its slots via...

    May 17, 2022  

  • PH Resorts widens 1Q loss, affirms going concern risk
    PH Resorts widens 1Q loss, affirms...

    May 17, 2022  


Latest News

Pragmatic Play to offer its slots via online platform bet365

Pragmatic Play to offer its slots via online platform bet365

May 17, 2022  

The Pragmatic Play brand, a leading content provider to the iGaming industry, says it has signed a deal to launch its complete slot portfolio on the bet365 online wagering platform. As a result,...
Read More
PH Resorts widens 1Q loss, affirms going concern risk

PH Resorts widens 1Q loss, affirms going concern risk

May 17, 2022  

AAEC side files appeal notice on failed lawsuit against LVS

AAEC side files appeal notice on failed lawsuit against LVS

May 17, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$14.5 million

First-quarter gaming revenue recorded by the casino at the Jeju Dream Tower resort in South Korea



Most Popular

  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
  • Macau repeat visitors denied visa by China says BernsteinMacau repeat visitors denied visa by China says Bernstein May 16, 2022
  • Macau GGR tax cut may spur 15pct EBITDA hike: JP MorganMacau GGR tax cut may spur 15pct EBITDA hike: JP Morgan May 16, 2022
  • Macau mulls GGR tax cut if casinos attract foreign playersMacau mulls GGR tax cut if casinos attract foreign players May 13, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us