Aug 20, 2018 Newsdesk Latest News, Macau, Top of the deck  
A Hong Kong-listed entity linked to the boss of Macau junket investor Suncity Group has issued a warning that it expects to widen its first half loss judged year-on-year.
Suncity Group Holdings Ltd said in a Friday filing that for the six months to June 30, “the anticipated significant increase in loss was mainly attributable to the increase in loss of approximately CNY944.1 million [US$137.3 million] in respect of the change in fair value of derivative component of convertible bond.”
The first-half loss for 2017 was just under CNY1.06 billion.
Suncity Group Holdings does not contain the profit streams of junket operations for privately-held Suncity Group in its declared assets but is nonetheless linked to Alvin Chau Cheok Wa, the founder of the junket brand. The brand is said by investment analysts to be the largest single investor in junket room operations in the Macau market.
On August 1 Suncity Group Holdings said in a filing it had again delayed completing the purchase of 34 percent of a casino resort project in Vietnam, telling the Hong Kong bourse it had put back the deadline for completion to August 31.
Mr Chau’s side announced the HKD600-million (US$76.4-million) deal in July last year.
Suncity Group Holdings first postponed the deadline for completing the purchase of its stake in the project in December 2017, putting it back to March 31 and warning of further postponements.
On May 8 this year, Suncity Group Holdings and an offshore entity called Fame Select Ltd, 50 percent owned by Mr Chau, said they had agreed to extend the maturity date on some outstanding convertible bonds in the principal amount of HKD570 million, by 24 months from December 7, 2018 to December 7, 2020.
On August 3 this year, Suncity Group Holdings announced that a dispatch relating to the maturity date on the relevant convertible bonds would be postponed to a date falling “on or before” August 24.
May 22, 2023
May 18, 2023
Jun 02, 2023
Jun 02, 2023
Jun 02, 2023
Genting Singapore Ltd says Lam Yi Young has resigned from his role as deputy chief executive of Resorts World at Sentosa Pte Ltd. The latter firm is an indirect wholly owned subsidiary of Genting...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
US$8.1 billion
Macau’s casino gross gaming revenue in the five months to May 31