Hong Kong-listed real estate and casino investor Landing International Development Ltd said on Thursday it expects a net profit for the six months to June 30, compared to a loss in the prior-year period. The company had said just a week ago that it expected a lower loss for the first half of 2017.
Landing International said in Thursday’s filing that the expected turnaround of the group’s performance was mainly attributable to: an increase in segment profit from property development thanks to revenue booked from real estate sales; a gain linked to adjustment in fair value of financial assets; a gain linked to adjustment in fair value regarding investment properties; and a reversal of impairment for other receivables.
The company had reported an overall loss of HKD526.5 million (US$67.3 million) in the first half of calendar year 2016, attributing much of it to costs associated with developing a new casino resort complex in Jeju, South Korea. The project had a first-phase launch in April this year.
May 24, 2022Macau casino operators’ aggregate net debt could reach the equivalent of US$25 billion by the end of this year, “five times the end of 2019’s levels”, and 12 percent higher than a “base...
May 24, 2022
”Resorts World Sentosa is now looking at broadening its customer base to those who engage in casual play for entertainment"
Tan Hee Teck
Genting Singapore’s president and chief operating officer