{"id":15522,"date":"2021-03-05T16:25:34","date_gmt":"2021-03-05T16:25:34","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=15522"},"modified":"2026-04-23T21:20:27","modified_gmt":"2026-04-24T00:20:27","slug":"landing-international-expects-3-decline-in-revenue-for-2020","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/landing-international-expects-3-decline-in-revenue-for-2020","title":{"rendered":"Landing International expects 3% decline in revenue for 2020"},"content":{"rendered":"\n

Casino investor Landing International expects to report a decline in revenue but a lower net loss than in 2019.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.- Landing International Development has said it expects to post a slight year-on-year decrease<\/strong> in consolidated revenue but a lower net loss.<\/p>\n\n\n\n

The casino investor expects to report an increase of about 3 per cent on the HK$815.5m (US$105m) in net revenue reported for 2019<\/strong>.<\/p>\n\n\n\n

In a filing to the Hong Kong Stock Exchange, the firm said it also expected to record a decrease in net loss of between 10 per cent and 20 per cent<\/strong> from the loss of HK$2.13bn (US$274.5m) in 2019.<\/p>\n\n\n\n

The company is still investigating the theft of KRW14.56bn (US$13.4m) from a safe at Landing Casino<\/strong> in early January.<\/p>\n\n\n\n

The group said: “As the investigation of the incident is still ongoing, the company has yet to ascertain the recoverable amount<\/strong> and the definitive amount recognised as loss in the group\u2019s consolidated financial statements for the year as at the date of this announcement.”<\/p>\n\n\n\n

Landing also saw a decrease in revenue due to a major drop in visitor numbers to its foreigner-only casino and reduction of property sale activities amid the ongoing Covid-19 pandemic<\/a><\/em>.<\/strong> <\/p>\n\n\n\n

However, it also saw an increase in revenue generated from Jeju Shinhwa World <\/strong>during the second half of 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

Casino investor Landing International expects to report a decline in revenue but a lower net loss than in 2019.<\/p>\n","protected":false},"author":176,"featured_media":15523,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Landing International Development anticipates a slight year-on-year decrease in consolidated revenue but a reduced net loss for the reporting period, improving upon 2019's HK$2.13bn deficit. The company faces ongoing challenges from the Covid-19 pandemic impacting visitor numbers and property sales, alongside an unresolved KRW14.56bn theft at Landing Casino. Despite these headwinds, Jeju Shinhwa World showed revenue growth in H2 2020.","focusai_entities":"Landing International Development, Landing International, Landing Casino, Jeju Shinhwa World, Hong Kong Stock Exchange","focusai_location":"Hong Kong, South Korea","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), compliance_legal (0.85), operator_casino (0.9), payments_fraud_aml (0.7), investor_analyst (0.95), supplier_vendor (0.7)","focusai_suggestions":[{"label":"Theft Impact Assessment","query":"What is the projected financial impact of the KRW14.56bn theft on Landing International's Q4 2020 or FY2020 consolidated statements, considering potential insurance recoveries or write-offs?"},{"label":"Revenue Segment Analysis","query":"Can Landing International provide a detailed breakdown of the 'consolidated revenue' versus 'net revenue' figures, clarifying the specific segments driving the expected 3% increase in net revenue amidst an overall consolidated revenue decline?"}],"footnotes":""},"categories":[16338,163],"tags":[23924],"class_list":["post-15522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-landing-international"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15522","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=15522"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15522\/revisions"}],"predecessor-version":[{"id":15554,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15522\/revisions\/15554"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15523"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=15522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=15522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=15522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}