• 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

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
  • Suncity listco to sell some units, US$16mln gain expected
    Suncity listco to sell some units,...

    May 11, 2022  

  • No material exposure to Macau junket debt cases: Wynn CEO
    No material exposure to Macau junket...

    May 11, 2022  

More news
  • Andrew Lo takes controlling stake in Suncity, Summit Ascent
    Andrew Lo takes controlling stake in...

    May 19, 2022  

  • Okada Manila chair Manuel Lazaro dies aged 87
    Okada Manila chair Manuel Lazaro dies...

    May 19, 2022  


Latest News

Andrew Lo takes controlling stake in Suncity, Summit Ascent

Andrew Lo takes controlling stake in Suncity, Summit Ascent

May 19, 2022  

Andrew Lo Kai Bong (pictured), a senior executive at Hong Kong-listed casino investor Suncity Group Holdings Ltd, acquired controlling shares in the firm with effect from May 13, according to...
Read More
Okada Manila chair Manuel Lazaro dies aged 87

Okada Manila chair Manuel Lazaro dies aged 87

May 19, 2022  

Bloomberry plans 3rd Philippine casino, coastal near Manila

Bloomberry plans 3rd Philippine casino, coastal near Manila

May 19, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$403.9 million

Interim normalised profit after tax and amortisation reported by slot machine maker and online gaming content provider Aristocrat Leisure



Most Popular

  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
  • Macau repeat visitors denied visa by China says BernsteinMacau repeat visitors denied visa by China says Bernstein May 16, 2022
  • U.S. says Steve Wynn ‘foreign agent’, lobbied for ChinaU.S. says Steve Wynn ‘foreign agent’, lobbied for China May 18, 2022
  • Alleged bribe offer to ex-Wynn manager probed by HK, MacauAlleged bribe offer to ex-Wynn manager probed by HK, Macau May 17, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us