• 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

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
  • Annual net casino sales double y-o-y at Jeju Dream Tower
    Annual net casino sales double y-o-y at...

    Mar 14, 2023  

  • Jeju Shinhwa op’s loss down at least 65pct y-o-y for 2022
    Jeju Shinhwa op’s loss down at least...

    Feb 28, 2023  

More news
  • Pagcor chairman keynote speech at SiGMA Asia
    Pagcor chairman keynote speech at SiGMA...

    Mar 28, 2023  

  • 3-month eVisa plan to boost Vietnam tourism: report
    3-month eVisa plan to boost Vietnam...

    Mar 28, 2023  


Latest News

Pagcor chairman keynote speech at SiGMA Asia

Pagcor chairman keynote speech at SiGMA Asia

Mar 28, 2023  

Alejandro Tengco (pictured), chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), is to give the keynote speech for the opening of the SiGMA Asia conference for the...
Read More
3-month eVisa plan to boost Vietnam tourism: report

3-month eVisa plan to boost Vietnam tourism: report

Mar 28, 2023  

Kangwon Land slot brand Manila office eyes SE Asia sales

Kangwon Land slot brand Manila office eyes SE Asia sales

Mar 28, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us