Nov 28, 2014 Newsdesk Industry Talk, Latest News, Macau  
CY Foundation Group Ltd on Thursday reported a net loss of HKD11.92 million (US$1.5 million) in the six months to September 30.
In the prior-year period it made a profit of approximately HKD7.8 million.
A company unit called CY Management Ltd – formerly known as Weike (G) Management Macau Ltd – is principally engaged in management of electronic gaming machines in Macau casinos via service agreements.
The firm said the group’s half-year loss was “mainly due to the depreciation of multi-terminal machines and amortisation of initial investment cost”.
The parent added that the electronic gaming business and a packaging business contributed positive EBITDA (earnings before interest, taxation, depreciation and amortisation) of approximately HKD5.2 million and approximately HKD4.5 million respectively during the reporting period.
CY Foundation Group said in a filing to the Hong Kong Stock Exchange: “The management believes that the group is on track to turning around… [and] will continue to look for potential sites in Macau as well as Southeast Asia.”
The firm added it aimed to expand the number of gaming machines in operation to 1,000 by the end of this financial year, and to 3,000 by the end of the financial year ending March 31, 2017.
Oct 29, 2018
Nov 30, 2015
Apr 17, 2024
Apr 17, 2024
Apr 17, 2024
First-quarter gross gaming revenue (GGR) for Macau slot machines and for live-dealer sic bo tables respectively recovered to above 86 percent of first-quarter 2019 pre-pandemic level, show...(Click here for more)
US$1.78 billion
Aggregate revenue generated by VIP baccarat in Macau in the first quarter of 2024