Starlight Culture Entertainment has announced it is terminating all of its gaming business interests.
Hong Kong.- Starlight Culture Entertainment Group has confirmed it will cease all of its gaming projects.
According to a filing delivered to the Hong Kong Stock Exchange, the company’s new focus is on film production.
The group, which was formerly known as Jimei International, was a junket operator controlled by veteran Jack Lam.
Jimei International operated VIP rooms at Jimei Casino, Wynn Macau, City of Dreams and Altira, with agreements at Crown Perth and The Star in Australia, and NagaWorld in Cambodia.
The name of the company changed in 2017 when it first began to shift away from gaming.
Starlight Culture indicated that on February 20 the company’s board of directors had decided to terminate its entertainment and gaming operations in order to focus resources on its media and culture business.
Starlight intends to allocate more resources to media and culture segment with its efforts focused on exploring opportunities in mainland China.
The group said: “As at 30 June 2020, the entertainment and gaming business was classified as a discontinued operation. With this business being classified as a discontinued operation, the gaming and entertainment business segment were no longer included in the note for operating segment information.”
The group reported HK$12.1 million (US$1.5 million) in net profit attributable to owners of the company for the first half of the year.