Success Dragon back to profit for half year to Sept 30

Nov 29, 2021 Newsdesk Industry Talk, Latest News, Macau  

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Gaming services provider Success Dragon International Holdings Ltd confirmed in a Friday filing to the Hong Kong Stock Exchange that it moved to a HKD4.4-million (US$569,000) net profit in the six months ended September 30, versus a net loss of HKD6.1 million in the prior-year period.

The “turnaround” was “mainly caused” by factors including a 114.7-percent increase in group revenue, to nearly HKD108.4 million.

That was influenced chiefly by a 189.1 percent year-on-year rise – to HKD85.5 million – in the April to September revenue derived from a non-gaming business, namely gold-laden carbon processing and trading.

During the period, revenue generated from what the group terms “outsourced business process management”, i.e., relating to management of casino gaming services, increased by 7.4 percent year-on-year to just under HKD19.1 million.

That was linked to “eas[ing] of control” in Macau “on measures against the spread of COVID-19”. This had enabled the group to “attract more business” in relation to that segment.

In September, Success Dragon announced it had a deal to “supply, set up and manage” a minimum of 120 slot machines and multi-terminal machine units in the slot halls of Macau casinos Grandview and Casa Real.

The properties are controlled by Hong Kong-listed Kingston Financial Group Ltd, and run under the gaming licence of Macau concessionaire SJM Holdings Ltd.

Kingston Financial reported its own interim numbers to September 30 on Friday.

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