• 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

Former Jimei International swings to 1H loss

Aug 31, 2017 Newsdesk Latest News, Rest of Asia, Top of the deck  


Former Jimei International swings to 1H loss

Starlight Culture Entertainment Group Ltd, known previously as Jimei International Entertainment Group Ltd and previously led by Macau junket veteran Jack Lam Yin Lok, reported a first-half loss of HKD237.9 million (US$30.4 million), compared to a HKD28.6-million profit in prior-year period.

The firm said on Wednesday that the reason for the loss was “mainly attributable to the gross loss of HKD3.6 million incurred for the six months ended 30 June 2017 as compared to a gross profit of HKD60.6 million” for the six months ended June 30, 2016.

The firm said there was also a “loss on change in fair value of derivative financial liabilities” of approximately HKD151.7 million for the reporting period.

In the “entertainment and gaming” segment, Starlight Culture generated for the first half of 2017 revenue and segmental gross loss of respectively about HKD8.5 million and HKD4.0 million. In the prior-year period, the legacy company had reported entertainment and gaming revenue and gross profit of, respectively, HKD130.6 million and HKD60.5 million.

Business in the segment had been “affected by the junket arrangement with NagaWorld, [which]… came to an end in early 2017, and under the tightened credit control over the group’s gaming promotion business,” Starlight Culture said in a filing to the Hong Kong Stock Exchange. It was referring first to the casino resort in Phnom Penh, Cambodia, operated by Hong Kong-listed NagaCorp Ltd.

Starlight Culture’s diversification into feature film making – via a “media and culture” segment – announced in the first half 2017, had not generated any revenue as of the end of that period, the company noted.

The company said basic loss per share for the first half amounted to approximately HKD0.4384. Group wide, the “deficiency per share” – in terms of decrease in equity – attributable to the owners of the company as of June 30 was approximately HKD0.12, compared to a first-half 2016 net asset value per share attributable to the owners of the company of approximately HKD0.22.


  • tweet
Related articles
  • Talks on NagaWorld lay-offs amid pandemic: source
    Talks on NagaWorld lay-offs amid...

    Apr 19, 2021  

  • Cambodia’s Phnom Penh curfew extended to April 28
    Cambodia’s Phnom Penh...

    Apr 14, 2021  

More news
  • Oaktree offers US$$2.3bln for Crown to buy out Packer
    Oaktree offers US$$2.3bln for Crown to...

    Apr 19, 2021  

  • Okada Manila 1Q GGR down 41pct amid casino restrictions
    Okada Manila 1Q GGR down 41pct amid...

    Apr 19, 2021  


Latest News

Talks on NagaWorld lay-offs amid pandemic: source

Talks on NagaWorld lay-offs amid pandemic: source

Apr 19, 2021  

GGRAsia has learned, from a person with knowledge of the matter, that casino operator NagaCorp Ltd is still in talks regarding the possibility of job lay-offs at the group’s NagaWorld gaming...
Read More
Oaktree offers US$$2.3bln for Crown to buy out Packer

Oaktree offers US$$2.3bln for Crown to buy out Packer

Apr 19, 2021  

Okada Manila 1Q GGR down 41pct amid casino restrictions

Okada Manila 1Q GGR down 41pct amid casino restrictions

Apr 19, 2021  

Macau VIP GGR up 20pct sequentially in 1Q: govt

Macau VIP GGR up 20pct sequentially in 1Q: govt

Apr 16, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$1.14 billion

Macau’s total VIP gross gaming revenue in the first quarter of 2021



Most Popular

  • Macau 2021 GGR could be half of pre- Covid-19 levels: FitchMacau 2021 GGR could be half of pre- Covid-19 levels: Fitch April 15, 2021
  • NUSTAR complex in Cebu slated to open 2022: UHRINUSTAR complex in Cebu slated to open 2022: UHRI April 16, 2021
  • Sands China says no links to online gaming siteSands China says no links to online gaming site April 15, 2021
  • Macau may tie GBA backing to gaming tender: law expertsMacau may tie GBA backing to gaming tender: law experts April 16, 2021
  • Macau VIP GGR up 20pct sequentially in 1Q: govtMacau VIP GGR up 20pct sequentially in 1Q: govt April 16, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us