Royal International posts US$2.3m loss

Royal International posts US$2.3m loss

The group’s finances have been flagging since last year. It cut 300 jobs in the first half of 2020.

Vietnam.- Royal International Corporation (RIC) has posted a loss of VND54 billion (US$2.3 million) for the first half of 2020.

The company operates Royal Casino Ha Long, the largest casino in Quảng Ninh Province near Hanoi.

Revenue fell 38 per cent in the first half, compared to the same six months in 2019, hitting VND49 billion (US$2.1 million).

The company’s hotel and casino complex was closed for most of April due to the Covid-19 pandemic.

RIC has been posting consecutive losses since last year. It closed 2019 with a VND73 billion (US$3.1 million) loss. The company has cut 334 jobs in the last six months and now has 1,059 employees, Vietnam Express International reported.

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