• 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

Imperial Pacific profit from Macau junket falls short

Jan 08, 2015 Newsdesk Latest News, Macau, Top of the deck  


Imperial Pacific profit from Macau junket falls short

A Hong Kong-listed firm that says it wants to spend as much as US$7.1 billion on a casino resort for the Pacific island of Saipan said in a filing on Wednesday that its 2014 profit stream from a Macau junket firm had fallen short of guarantees made by the vendor’s side.

Imperial Pacific International Holdings Ltd said it has received HKD10.7 million (US$1.3 million) from its investment in the profit stream of Macau junket firm Hengsheng Group. The amount fell short of the guaranteed profit share of HKD24 million for the period of January to December 2014, the firm said in a filing on Wednesday.

Imperial Pacific – which in July won a licence for a casino project on Saipan – in March 2014 closed a HKD400 million deal for 5 percent of the profit stream of Hengsheng. The agreement was based “on the assumption that the profit stream will be at least HKD24 million per year with certain conservative growth in the coming 16 years,” Imperial Pacific said in previous filings.

The vendor will now have to pay a shortfall of HKD13.3 million to Imperial Pacific “pursuant to the profit guarantee,” the company said in Wednesday’s filing.

The profit guarantee is secured by convertible notes, which have been retained by Imperial Pacific, the firm added.

Macau experienced its first-ever annual gaming revenue decline last year. The city’s gross gaming revenue (GGR) for 2014 fell 2.6 percent year-on-year to MOP351.52 billion (US$44.0 billion).

“The main drag has come from a slowdown in high-end demand across VIP and premium mass, primarily driven by weak China macro economy, and a changing political climate in China,” analysts at UBS Securities Asia Ltd said in a report this week.


  • tweet
Related articles
  • Macau would-be junkets to pay US$187k guarantee: govt
    Macau would-be junkets to pay US$187k...

    Dec 28, 2022  

  • Court rejects Imperial Pacific appeal on licence suspension
    Court rejects Imperial Pacific appeal...

    Mar 17, 2022  

More news
  • MGM China had record market share in Jan: COO Wang
    MGM China had record market share in...

    Feb 09, 2023  

  • HK singer Joey Yung to open residency shows for Studio City
    HK singer Joey Yung to open residency...

    Feb 09, 2023  


Latest News

MGM China had record market share in Jan: COO Wang

MGM China had record market share in Jan: COO Wang

Feb 09, 2023  

Macau casino operator MGM China Holdings Ltd had a “record” market share in January, and its venues were the “highest-earning businesses” in the portfolio of the majority owner MGM Resorts...
Read More
HK singer Joey Yung to open residency shows for Studio City

HK singer Joey Yung to open residency shows for Studio City

Feb 09, 2023  

Wynn to spend up to US$220mln in 2023 capex in Macau

Wynn to spend up to US$220mln in 2023 capex in Macau

Feb 09, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

"The company will scrutinise the [26 Capital] lawsuit and properly deal with it"

Universal Entertainment

Japanese firm that controls the Okada Manila casino resort in the Philippines



Most Popular

  • Macau mulls subsidy of up to US$62 per overseas visitorMacau mulls subsidy of up to US$62 per overseas visitor February 7, 2023
  • Macau early Feb average daily GGR higher than Jan: JPMMacau early Feb average daily GGR higher than Jan: JPM February 6, 2023
  • LVS ranked by S&P as most sustainable casino sector firmLVS ranked by S&P as most sustainable casino sector… February 8, 2023
  • Ex-junket boss Levo Chan aimed to go to Taiwan: policeEx-junket boss Levo Chan aimed to go to Taiwan: police February 7, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us