{"id":15433,"date":"2021-03-03T15:02:53","date_gmt":"2021-03-03T15:02:53","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=15433"},"modified":"2026-04-23T21:23:58","modified_gmt":"2026-04-24T00:23:58","slug":"synectics-reports-annual-loss-of-4-7m","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/synectics-reports-annual-loss-of-4-7m","title":{"rendered":"Synectics reports annual loss of \u00a34.7m"},"content":{"rendered":"\n<p>The electronic surveillance equipment supplier has seen major losses as land-based gambling activities decline across Asia.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>UK.- The surveillance supplier <strong>Synectics Plc has reported an annual loss of \u00a34.7m (US$6.5m)<\/strong> for the financial year ending November 30 2020.<\/p>\n\n\n\n<p>The company, which operates in Asia-Pacific, particularly <strong><em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-declines-8-9-in-february\" target=\"_blank\">Macau<\/a><\/em><\/strong> and <strong><em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/singapore-sees-results-from-efforts-to-rekindle-tourism\" target=\"_blank\">Singapore<\/a><\/em><\/strong>, reported a consolidated profit of over \u00a31.6m a year earlier.<\/p>\n\n\n\n<p><strong>Synectics chairman David Coughlan, said in a filing to the London Stock Exchange: <\/strong>\u201cThe largest direct negative impact affecting Synectics currently is the closure of, or lack of business in, major casinos and gaming resorts in the United States and the Far East, in turn driven by travel and other restrictions on the public.&#8221;<\/p>\n\n\n\n<p>In order to combat some of the losses, the company said it had made changes \u201cresulting in the <strong>closure of a number of operating sites<\/strong>&#8220;. It has <strong>reduced its annual operating costs by \u00a32.4m.<\/strong><\/p>\n\n\n\n<p>While the company said its operations in Asia were heavily affected by the pandemic, it said&nbsp;it was \u201cpleased to be able to sign a new<strong> five-year support contract with a major integrated resort operator in Singapore<\/strong>.\u201d<\/p>\n\n\n\n<p>With gaming properties still suffering from the Covid-19 pandemic, <strong><em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/vietnam-casinos-ask-government-to-let-locals-gamble\" target=\"_blank\">operators in Vietnam<\/a><\/em> have asked the government to ease the rules on locals entering casinos\u00a0<\/strong>in order to boost revenues.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The electronic surveillance equipment supplier has seen major losses as land-based gambling activities decline across Asia.<\/p>\n","protected":false},"author":2,"featured_media":15435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Synectics Plc, a surveillance equipment supplier, reported an annual loss of \u00a34.7m for FY2020, a significant reversal from the prior year's profit, primarily due to the severe impact of pandemic-related closures and reduced business in major land-based casinos across Asia-Pacific and the United States. The company has implemented cost-reduction measures and secured a new five-year support contract in Singapore, while operators in Vietnam seek regulatory adjustments to mitigate revenue declines.","focusai_entities":"Synectics Plc, David Coughlan, London Stock Exchange","focusai_location":"UK, Asia-Pacific, Macau, Singapore, United States, Vietnam, Far East","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), tech_data (0.7), investor_analyst (0.95), supplier_vendor (0.95), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Synectics' Q1 2021 Outlook?","query":"What is Synectics Plc's projected revenue and profitability outlook for the upcoming fiscal year, considering the ongoing recovery pace in key Asian integrated resort markets?"},{"label":"Impact on B2B Suppliers?","query":"How are other B2B technology and service suppliers to the land-based casino sector adapting their business models and cost structures in response to prolonged market volatility?"}],"footnotes":""},"categories":[160,163],"tags":[],"class_list":["post-15433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-finance-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=15433"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15433\/revisions"}],"predecessor-version":[{"id":15452,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15433\/revisions\/15452"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15435"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=15433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=15433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=15433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}