Mar 12, 2015 Newsdesk Latest News, Rest of Asia, Top of the deck, World  
Hong Kong-listed Imperial Pacific International Holdings Ltd, which says it plans to invest US$7.1 billion in the development of a casino resort on the Pacific island of Saipan (pictured), on Wednesday stated it expects to “record a significant increase in net loss for the year ended December 31, 2014”.
Imperial Pacific reported a net loss of HKD14.95 million (US$1.93 million) for full year 2013. The company – until recently known as First Natural Foods Holdings Ltd – last reported a profit in 2012.
The firm posted a net loss of HKD19.6 million for the six months ended June 30, up from HKD1.9 million in the prior-year period.
In Wednesday’s filing, Imperial Pacific said the expected increase in loss for the full year was mainly attributable to the increase in operating costs and impairments in the food-processing segment and to the increase in expenses related to the development of the casino resort in Saipan.
Imperial Pacific’s subsidiary in Saipan is committed to build a multi-phase casino resort with 2,000 rooms. The company plans to build four luxury hotels, which will include “both private gaming rooms and public facilities”.
The company last week said it had reached an agreement to amend its casino licence, which would allow its subsidiary to establish and operate a “temporary casino” on the island of Saipan.
Imperial Pacific is also an investor in the profit stream of Macau junket firm Hengsheng Group. In January, the Hong Kong-listed company said the profit stream from the Macau junket firm – amounting to HKD10.7 million – had fallen short of guarantees made by the vendor’s side.
The annual results of the group are expected to be announced later this month.
May 25, 2023
Mar 30, 2023
Jun 02, 2023
Jun 02, 2023
Jun 02, 2023
Genting Singapore Ltd says Lam Yi Young has resigned from his role as deputy chief executive of Resorts World at Sentosa Pte Ltd. The latter firm is an indirect wholly owned subsidiary of Genting...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
US$8.1 billion
Macau’s casino gross gaming revenue in the five months to May 31