Success Dragon posts FY profit, gaming services rev down

Jun 30, 2022 Newsdesk Latest News, Macau  

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Gaming services provider Success Dragon International Holdings Ltd confirmed in a Wednesday filing to the Hong Kong Stock Exchange that it moved to a HKD2.0-million (US$255,000) net profit in the 12 months ended March 31, versus a net loss of HKD10.5 million in the prior-year period.

The group recorded revenue of HKD182.0 million for the financial year ended March 31, versus HKD175.2 million in the previous 12 months.

During the period, revenue generated from what the group terms “outsourced business process management”, i.e., relating to management of casino gaming services, decreased by 6.1 percent year-on-year, to just over HKD31.5 million.

“The lack of improvement in the revenue for this business segment was mainly attributable to the adverse impact on the Macau gaming industry caused by the prevalence of the Covid-19 pandemic,” the firm stated.

The loss from the outsourced business process management segment during the period was HKD5.6 million, compared with a loss of approximately HKD9.4 million during financial year 2021.

“The decrease in loss was mainly due to the tight cost control measures implemented by the group in this segment,” Success Dragon said.

In September last year, 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.

Casino operations at the Casa Real and Grandview venues are to continue to December 31, coinciding with the extended gaming rights up to that date of the licence provider, SJM Holdings Ltd, Kingston Financial announced earlier this week.

Besides provision of outsourced business process management for electronic gaming machines in Macau, Success Dragon also provides moneylending services in Hong Kong, and engages in gold-laden carbon processing and trading business in China.

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