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.
Jul 30, 2021Macau casino operator SJM Holdings Ltd plans to reallocate to its Grand Lisboa Palace resort a total of 118 gaming tables, part of its inventory available elsewhere. The announcement was made by...
Jul 30, 2021
Number of new-to-market casino tables – all for mass-market gaming – granted by Macau’s casino regulator to SJM Holdings for the firm's new Grand Lisboa Palace resort