• 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

Gaming service biz China Star flags wider 1H loss

Aug 24, 2017 Newsdesk Latest News, Macau, Top of the deck  


Gaming service biz China Star flags wider 1H loss

Macau gaming services and hotel company China Star Entertainment Ltd has warned investors it expects to record a “significant increase” in net loss for the first half of 2017. In the equivalent period last year, the firm recorded a profit of approximately HKD39.1 million (US$5 million), it said in a filing to the Hong Kong Stock Exchange.

The company owns and operates a casino hotel called Lan Kwai Fong (pictured) on the Macau peninsula. China Star runs gaming there under the licence of Macau casino operator SJM Holdings Ltd.

China Star said the expected increase in loss was mainly attributable to: “loss on early redemption on promissory note of approximately HKD60 million; recognition of unrealised loss of approximately HKD57 million arising on change in fair value of financial assets classified as held for trading investments; and increase in finance costs by the amount of approximately HKD16 million from the last corresponding period.”

The company said the widening loss would in likelihood be “partially offset by the recognition of gain on fair value change of investment properties of approximately HKD1 million during this period,” as compared to a loss of nearly HKD25.4 million in the last corresponding period.

China Star announced in late June that it agreed to sell the Lan Kwai Fong casino hotel to Hong Kong-listed Paradise Entertainment Ltd, for a total purchase price of HKD2.38 billion.


  • tweet
Related articles
  • Paradise Ent, Tangiamo in partnership to expand global reach
    Paradise Ent, Tangiamo in partnership...

    Jan 07, 2025  

  • New LMG stadium goes live at Grand Lisboa casino
    New LMG stadium goes live at Grand...

    Dec 18, 2024  

More news
  • Macau ferry service with mainland’s Zhongshan starts Weds
    Macau ferry service with...

    Jan 14, 2025  

  • More work once Thai casino bill passes: commentators
    More work once Thai casino bill passes:...

    Jan 14, 2025  


Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Latest News

Macau ferry service with mainland’s Zhongshan starts Weds

Macau ferry service with mainland’s Zhongshan starts Weds

Jan 14, 2025  

Ferry operator Yuet Tung Shipping Co Ltd is to start on Wednesday (January 15) sailings between Macau’s Taipa Ferry Terminal, and Zhongshan Passenger Port serving the neighbouring city of...
Read More
More work once Thai casino bill passes: commentators

More work once Thai casino bill passes: commentators

Jan 14, 2025  

Sands China introduces Alipay Tap! in its Macau properties

Sands China introduces Alipay Tap! in its Macau properties

Jan 14, 2025  

Macau-based investor owns over 6pct of Star Entertainment

Macau-based investor owns over 6pct of Star Entertainment

Jan 14, 2025  

Thailand’s cabinet approves bill to legalise casinos

Thailand’s cabinet approves bill to legalise casinos

Jan 13, 2025  

Pick of the Day

”Legalisation [of casinos] will protect the public and would also generate more state revenue”

Paetongtarn Shinawatra

Thailand’s prime minister



Most Popular

  • Macau’s airport adds 34 flights covering Lunar new yearMacau’s airport adds 34 flights covering Lunar new… January 7, 2025
  • LVS to pay US$1bln for changes to MBS expansion projectLVS to pay US$1bln for changes to MBS expansion project January 13, 2025
  • Sands 5-day week option praised by Macau labour groupsSands 5-day week option praised by Macau labour groups January 13, 2025
Copyright 2014-2024 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us