• 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

Quarterly profit down for Malaysia’s Magnum

Dec 08, 2014 Newsdesk Latest News, Rest of Asia, Top of the deck  


Quarterly profit down for Malaysia’s Magnum

Malaysian lottery operator Magnum Bhd reported a 4.6-percent drop in revenue for the third quarter of 2014, to MYR670 million (US$193million), down from MYR702 million a year earlier.

Profit attributable to equity holders of the parent fell by 29.9 percent year-on-year to MYR45.4 million, the company said in a statement.

The group, formerly known as Multi-Purpose Holdings Bhd, undertook a demerger of its core businesses into gaming and non-gaming businesses in June this year.

The move resulted in the creation of two separate and independent listed entities – Magnum Bhd, which holds the gaming business, and MPHB Capital Bhd, which holds the financial services, hospitality and property investment businesses.

Magnum recorded a lower pre-tax profit for the three months ended September 30 of MYR74.7 million when compared to MYR77.1 million achieved in the previous year corresponding quarter.

“The decline, due to losses incurred by Investment Holdings segment, was mainly attributed to fair value losses of quoted investments,” the firm said.

Pre-tax profit from gaming dropped by MYR0.2 million from a year earlier to MYR76.8 million in the third quarter of 2014, “due to lower gaming sales as a result of the weaker consumer spending and competition from illegal operators but mitigated by lower prizes payout ratio,” it added.

Profit in the first nine months of 2014 dropped by 8.8 percent year-on-year to MYR196 million. Revenue for the period was MYR2.2 billion, down 4 percent from a year ago.

“The government’s ongoing subsidies rationalisation programme has led to cautious consumer spending which has a moderating effect on our sales,” warned the firm’s board of directors, adding, “The aggressive discount and higher prize payout structure offered by illegal operators remains a challenge to the industry.”

It added: “With the launch of the new 4D Jackpot Gold game on November 8, 2014, the company is committed to continue its marketing and product branding strategies for the remainder of the current financial year to address the decline in its revenue.”


  • tweet
Related articles
  • Pagcor 2022 income up 66pct y-o-y, tops US$1bln
    Pagcor 2022 income up 66pct y-o-y, tops...

    Jan 31, 2023  

  • Casino tech firm RGB promotes Liew to VP of finance
    Casino tech firm RGB promotes Liew to...

    Jan 19, 2023  

More news
  • Macau early Feb average daily GGR higher than Jan: JPM
    Macau early Feb average daily GGR...

    Feb 06, 2023  

  • Macau tour trade returns at historic areas, resorts says govt
    Macau tour trade returns at historic...

    Feb 06, 2023  


Latest News

Macau early Feb average daily GGR higher than Jan: JPM

Macau early Feb average daily GGR higher than Jan: JPM

Feb 06, 2023  

Macau’s casino gross gaming revenue (GGR) for the first five days of February is estimated at MOP1.9 billion (US$235.1 million) – or MOP380 million per day – a level that suggests a “45...
Read More
Macau tour trade returns at historic areas, resorts says govt

Macau tour trade returns at historic areas, resorts says...

Feb 06, 2023  

Cambodia ops to Mar 31 for due tax on non-gaming: report

Cambodia ops to Mar 31 for due tax on non-gaming: report

Feb 06, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The resumption [of mainland package tours] is definitely good news: recovering foot traffic for casinos [in Macau] is really important and their comeback will help with that”

Hoffman Ma Ho Man

Deputy chairman of Success Universe Group, promoter of casino-hotel Ponte 16



Most Popular

  • Return of tours good for mass floor traffic: observersReturn of tours good for mass floor traffic: observers February 3, 2023
  • Cyprus president says Melco CoD Mediterranean to aid nationCyprus president says Melco CoD Mediterranean to aid nation February 6, 2023
  • Macau early Feb average daily GGR higher than Jan: JPMMacau early Feb average daily GGR higher than Jan: JPM February 6, 2023
  • Jaw-dropping wagers in Macau CNY survey: CitigroupJaw-dropping wagers in Macau CNY survey: Citigroup February 2, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us