• 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 yearly net loss narrows to US$11 mln

Mar 15, 2016 Newsdesk Latest News, Top of the deck, World  


Imperial Pacific yearly net loss narrows to US$11 mln

Hong Kong-listed gaming investor Imperial Pacific International Holdings Ltd posted on Monday a net loss of HKD84.37 million (US$10.87 million) for the full year 2015, compared to a loss of HKD1.56 billion in the prior year.

The 2014 results had been negatively affected by an impairment loss to the value of HKD1.30 billion related to profit stream sharing rights for Macau junket operator Heng Sheng Group, Imperial Pacific said in Monday’s filing.

In October Imperial Pacific said it had agreed to terminate the profit share deal with Heng Sheng, citing the downturn in Macau’s gaming industry. The firm recorded a gain of HKD221 million following the termination of the deal, it said.

The company said its revenue for full-year 2015 increased 66.9 percent year-on-year to HKD931.92 million, supported by a growth in gaming revenue.

Imperial Pacific had an official opening of its “temporary casino” on Saipan in November. The casino property – which had a soft opening in July – had a total of 12 VIP gaming tables and 34 mass tables as of December 31, 2015.

The company reported VIP gaming revenue of HKD622.98 million for the year ended December 31, 2015. VIP rolling chip volume reached approximately HKD24.20 billion last year, it said.

Revenue from mass gaming operations amounted to HKD65.68 million in 2015, while revenue from the slot machines and electronic table games handle amounted to HKD19.27 million, said Imperial Pacific.

For the full year, expenses increased by 32 percent year-on-year to HKD710.99 million. The increase in expenses was mainly attributable to higher direct casino costs, such as the payment of commissions and casino licence fees.

Imperial Pacific said in Monday’s filing that it has already obtained all the relevant permits to start construction of the Grand Mariana Casino and Hotel Resort in Garapan, Saipan. The firm has pledged to spend as much as US$7.1 billion on a permanent casino resort on Saipan, a Pacific island that forms part of the U.S. Commonwealth of the Northern Mariana Islands.

The casino at the new property at Garapan is slated to open “in December 2016”, while the hotel will launch at the end of the first quarter of 2017, Imperial Pacific said.


  • tweet
Related articles
  • Premium Leisure net income up 52pct in year to Aug
    Premium Leisure net income up 52pct in...

    Sep 19, 2023  

  • Macau VIP GGR up 42pct q-o-q, to US$1.5bln: regulator
    Macau VIP GGR up 42pct q-o-q, to...

    Jul 18, 2023  

More news
  • Events a boon, Citi ups Macau 4Q GGR forecast to US$6.5bln
    Events a boon, Citi ups Macau 4Q GGR...

    Sep 27, 2023  

  • ASEAN, China agree to jointly fight gambling-related crime
    ASEAN, China agree to jointly fight...

    Sep 27, 2023  


Latest News

Events a boon, Citi ups Macau 4Q GGR forecast to US$6.5bln

Events a boon, Citi ups Macau 4Q GGR forecast to US$6.5bln

Sep 27, 2023  

Citigroup has raised its forecast for Macau’s fourth-quarter casino gross gaming revenue (GGR) to MOP52.5 billion (US$6.52 billion), from a previous MOP51.0-billion estimate, despite investors’...
Read More
ASEAN, China agree to jointly fight gambling-related crime

ASEAN, China agree to jointly fight gambling-related crime

Sep 27, 2023  

Melco International ends JV for theme park in Zhongshan

Melco International ends JV for theme park in Zhongshan

Sep 27, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The gambling landscape will continue to evolve, and we must stay vigilant and responsive to emerging trends and technological advancements”

Teo Chun Ching

Chief executive of Singapore’s Gambling Regulatory Authority



Most Popular

  • Any Macau clamp on money changing may hurt GGR: punditsAny Macau clamp on money changing may hurt GGR: pundits September 25, 2023
  • Macau govt sets junket cap per casino operator for 2024Macau govt sets junket cap per casino operator for 2024 September 25, 2023
  • Wynn Macau Ltd cancels K-pop festival scheduled for OctWynn Macau Ltd cancels K-pop festival scheduled for Oct September 25, 2023
  • 26 Capital to delist, liquidate as Okada Manila merger fails26 Capital to delist, liquidate as Okada Manila merger fails September 25, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us