• 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
  • Jay Chun to share Paradise Ent chair role with a banker
    Jay Chun to share Paradise Ent chair...

    Dec 23, 2022  

  • Macau 3Q GDP down 33pct as gaming exports dip 73pct
    Macau 3Q GDP down 33pct as gaming...

    Nov 18, 2022  

More news
  • Main-building work at Naga 3 begins mid-2023: NagaCorp
    Main-building work at Naga 3 begins...

    Mar 24, 2023  

  • Macau diversification into non-gaming to remain slow: Fitch
    Macau diversification into non-gaming...

    Mar 24, 2023  


Latest News

Main-building work at Naga 3 begins mid-2023: NagaCorp

Main-building work at Naga 3 begins mid-2023: NagaCorp

Mar 24, 2023  

Piling work for Naga 3, an addition to the NagaWorld gaming complex in Cambodia’s capital Phnom Penh, was at “96 percent completion”, said the promoter’s 2022 annual report, issued on...
Read More
Macau diversification into non-gaming to remain slow: Fitch

Macau diversification into non-gaming to remain slow: Fitch

Mar 24, 2023  

Osaka to up ‘gambling addiction’ centres before IR opens

Osaka to up ‘gambling addiction’ centres before IR

Mar 24, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


April 8, 2028

Completion deadline for 'Marina Bay Sands 2.0', as authorised by Singapore’s authorities



Most Popular

  • Sands China woos Singaporeans as Air Macau opens routeSands China woos Singaporeans as Air Macau opens route March 23, 2023
  • March 18 Macau arrivals nearly 100k, best since pandemicMarch 18 Macau arrivals nearly 100k, best since pandemic March 23, 2023
  • Contractor named, work starts for Wynn UAE schemeContractor named, work starts for Wynn UAE scheme March 23, 2023
  • LVS gets 1-year extension for Marina Bay Sands 2.0 startLVS gets 1-year extension for Marina Bay Sands 2.0 start March 24, 2023
  • Universal Ent affiliate to develop land next to Okada ManilaUniversal Ent affiliate to develop land next to Okada Manila March 24, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us