Hong Kong-listed Louis XIII Holdings Ltd, developer of a casino hotel on the Cotai-Coloane border in Macau, slimmed its loss by HKD30 million (US$3.9 million) or 41 percent, to HKD29.88 million in the year ending March 31.
The loss per basic and diluted share was HKD0.055, narrowing by 57 percent in each case the per share loss of the prior-year period.
In April the management said it planned to open its new boutique casino property on July 1, 2016, as construction was slightly ahead of schedule. In November the scheme was described as a US$1.1 billion project.
Louis XIII had said in previous filings it would operate 66 gaming tables – 50 premium mass and 16 VIP. The developer has not yet mentioned which Macau casino operator it would rely on for its gaming licence. Any gaming at the venue would operate under what is known in Macau as a service agreement, using the rights of one of the existing six casino concessionaires.
May 22, 2019Macau’s VIP gaming segment, which recorded a year-on-year decline in gross gaming revenue (GGR) in the first quarter, might see weakness in Chinese consumer demand for the rest of 2019 due to...
"Competition is tough in Macau and is also changing. It [the local market] is susceptible to a lot of macro factors”
Daisy Ho Chiu Fung
Chairman of casino operator SJM Holdings Ltd