Oshidori expects to record US$130m in profits for H1

Oshidori was one of the Nagasaki IR contenders.
Oshidori was one of the Nagasaki IR contenders.

Oshidori International Holdings expects to post profits of HK$1.04bn (US$130m) for the first half of the year. The company has recently withdrawn from Nagasaki’s IR bid.

Hong Kong.- Oshidori International Holdings expects to report a profit of HK$1.04bn (US$130m) for the first half of the year 2021, after a loss of HKD3.7m during the first half of 2020.

The company attributed profits to the acquisition of an associate (HKD1.14bn), profits of HK$49.2m from its financial services segment and a growth in profits from its credit and lending segment to HKD48m.

Oshidori reported a profit of HK$2.82bn (US$363m) for fiscal year 2020, the highest since its listing. Last week, the company pulled out of the IR bid process in Nagasaki, arguing that the prefecture’s demands were “unreasonable.”

The company said: “The restrictions imposed by Nagasaki Prefecture are unreasonable, and at present, it is not possible to conduct business rationally and effectively.”

It added that it was “only interested in participating in a process that has the highest integrity, and that is professional, transparent, and based on merit.”

The Nagasaki Prefectural Government has selected Casinos Austria International as its priority choice as a partner for its IR bid.

Nagasaki’s Integrated Resort Promotion Division said: “The request-for-proposal procedure to select the priority negotiation right holder was conducted with fairness and integrity.”

Casinos Austria International plans for Nagasaki’s IR

Casinos Austra International said its plans to build a casino resort with 220 gaming tables and 2,200 slot machines. It said the casino would have a total footprint of around 9,000 square metres (96,875 sq feet) and would “offer a gaming experience of the highest international standards.”

The group also plans to build eight hotels, conference and exhibition facilities with a variety of dining and retail options. The Nagasaki Prefectural Government will make a submission to Japan’s national government by 2022 in its bid for permission to develop an integrated resort.

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