• 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
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Casino investor Landing flags 1H loss, gaming revenue down

Aug 12, 2019 Newsdesk Latest News, Philippines, Top of the deck  


Casino investor Landing flags 1H loss, gaming revenue down

Casino investor Landing International Development Ltd expects to record a net loss for the first six months of 2019, although it says its accounts for the period are still being finalised. One of the reasons for the loss was a decline in gaming revenue, the firm said in a filing on Friday.

Hong Kong-listed Landing International’s first-half 2018 profit stood at HKD280.6 million (US$35.8 million), helped by the ramping up of its foreigner-only casino resort Jeju Shinhwa World (pictured) on South Korea’s Jeju Island. The company however posted a HKD701.5-million loss for full-2018.

The group said in its profit warning issued on Friday that the expected net loss was attributable to factors including a “decrease in net revenue from gaming business.”

Other factors contributing to the expected net loss in the first half of 2019 included: a “decrease in revenue from sales of residential properties”; a decrease in interest income and increase in finance cost; and an increase in amortisation and depreciation charges due to progressive opening of various facilities at Jeju Shinhwa World.

Landing International is pursuing a casino resort project in Manila, in the Philippines, but the authorities there have said that the land lease contract for the project would be “cancelled”, casting doubts over the project.

Landing International stated in its Friday filing it expected to publish its results for the first six months of 2019 by “late August”.


  • tweet
Related articles
  • Paradise Co January casino sales down 36pct m-o-m
    Paradise Co January casino sales down...

    Feb 03, 2021  

  • Landing asks police to track down employee: reports
    Landing asks police to track down...

    Jan 08, 2021  

More news
  • Sands China to pay US$2.4mln tax re Gondola Ride: court
    Sands China to pay US$2.4mln tax re...

    Mar 04, 2021  

  • A fresh US$2-bln casino project proposed for Vietnam
    A fresh US$2-bln casino project...

    Mar 04, 2021  


Latest News

Sands China to pay US$2.4mln tax re Gondola Ride: court

Sands China to pay US$2.4mln tax re Gondola Ride: court

Mar 04, 2021  

Macau’s Court of Second Instance has upheld decisions by a public department in the city, ordering casino operator Sands China Ltd to pay a total of MOP18.9 million (US$2.4 million) in tourism tax...
Read More
A fresh US$2-bln casino project proposed for Vietnam

A fresh US$2-bln casino project proposed for Vietnam

Mar 04, 2021  

LVS plans to keep U.S. base, stock listing: spokesman

LVS plans to keep U.S. base, stock listing: spokesman

Mar 04, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“Asia remains the backbone of this company and our developments in Macau and Singapore are the centre of our attention”

Robert Goldstein

Chairman and chief executive of casino operator Las Vegas Sands



Most Popular

  • Lim Kok Thay, GEN Singapore execs in US$1.3mln stock awardLim Kok Thay, GEN Singapore execs in US$1.3mln stock award March 2, 2021
  • Las Vegas Sands to sell off Nevada assets for US$6.25blnLas Vegas Sands to sell off Nevada assets for US$6.25bln March 3, 2021
  • Covid-19 test cert no longer needed for Macau casino entryCovid-19 test cert no longer needed for Macau casino entry March 2, 2021
  • Galaxy Macau to add Raffles-branded hotel towerGalaxy Macau to add Raffles-branded hotel tower March 1, 2021
  • Macau casino GGR down 9pct m-o-m in February: govtMacau casino GGR down 9pct m-o-m in February: govt March 1, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us