• 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

Jeju casino investor New Silkroad warns 1H loss to double

Jul 17, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck  


Jeju casino investor New Silkroad warns 1H loss to double

New Silkroad Culturaltainment Ltd, which has a casino business within a hotel on Jeju Island, South Korea, warned in a Thursday filing that it expected to see its interim loss double, to HKD47 million (US$6.1 million), compared to a loss of HKD23 million in the prior-year period.

The firm told the Hong Kong Stock Exchange there had been a “significant drop in revenue” in the group’s “entertainment business in Jeju”.

This has been brought about “by the outbreak of the novel coronavirus pandemic since January this year, and the imposition of local travel and entry restrictions by the [South] Korea government thereby resulting in a sharp reduction of tourists to Jeju, Korea”.

The group has the MegaLuck casino operation (pictured) in the Jeju KAL Hotel on Jeju Island, and distributes wine and baijiu, a Chinese alcoholic drink.

The firm noted there had been a “decrease in gross profit margin on the group’s winery business due to slack market momentum”.

The filing added the group had “implemented cost-reduction measures to counteract the current situation,” and would “closely monitor” market developments in order to provide a “prompt response”.

In its 2019 annual report, filed on May 15 this year, New Silkroad said that a development scheme it planned on Jeju known as Glorious Hill, had “not commenced due to a delay in project financing”.

In 2017, New Silkroad announced that it had taken control of a firm called Macrolink Glorious Hill Co Ltd, putting money into it with a view to developing a big resort complex at Glorious Hill, including a “large-scale casino”.


  • tweet
Related articles
  • Jeju still studying online gaming for its casinos: govt
    Jeju still studying online gaming for...

    Jun 24, 2022  

  • Claimed US$3.5mln scam on Chinese, Daegu Casino: reports
    Claimed US$3.5mln scam on Chinese,...

    Jun 22, 2022  

More news
  • Maybe new Macau mass Covid test, community spread still
    Maybe new Macau mass Covid test,...

    Jun 24, 2022  

  • Blackstone clinches US$6.15bln takeover of Crown Resorts
    Blackstone clinches US$6.15bln takeover...

    Jun 24, 2022  


Latest News

Maybe new Macau mass Covid test, community spread still

Maybe new Macau mass Covid test, community spread still

Jun 24, 2022  

It is likely that Macau will shortly have a third round of citywide centre-based Covid-19 testing in little more than a week, after the results so far of a second mass test – that was due to finish...
Read More
Blackstone clinches US$6.15bln takeover of Crown Resorts

Blackstone clinches US$6.15bln takeover of Crown Resorts

Jun 24, 2022  

Jeju still studying online gaming for its casinos: govt

Jeju still studying online gaming for its casinos: govt

Jun 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$5.8 million

Amount that each Macau casino operator paid for the circa six-month extension of their respective contract



Most Popular

  • Okada Manila control dispute back in court: UniversalOkada Manila control dispute back in court: Universal June 22, 2022
  • Macau ops sign contract extension, eye fresh public tenderMacau ops sign contract extension, eye fresh public tender June 23, 2022
  • Macau gaming ops contract rollover signed today: CEMacau gaming ops contract rollover signed today: CE June 23, 2022
  • Macau shuts leisure sites amid Covid, casinos can still runMacau shuts leisure sites amid Covid, casinos can still run June 23, 2022
  • Claimed US$3.5mln scam on Chinese, Daegu Casino: reportsClaimed US$3.5mln scam on Chinese, Daegu Casino: reports June 22, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us