{"id":22066,"date":"2021-08-27T12:04:02","date_gmt":"2021-08-27T15:04:02","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22066"},"modified":"2026-04-23T16:13:40","modified_gmt":"2026-04-23T19:13:40","slug":"south-korea-new-silkroad-reports-zero-revenue-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/south-korea-new-silkroad-reports-zero-revenue-for-h1","title":{"rendered":"South Korea: New Silkroad reports zero revenue for H1"},"content":{"rendered":"\n

New Silkroad has been seriously impacted by the Covid-19 pandemic, recording zero revenue for the first half of the year 2021.<\/p>\n\n\n\n\n\n\n\n

South Korea.- The casino company\u00a0New Silkroad Culturaltainment<\/strong>\u00a0has reported zero revenue for the first half of the year due to the lack of tourism and the temporary closure of its venue amid Covid-19 countermeasures. <\/p>\n\n\n\n

For the\u00a0first half of 2020<\/a>, the company, which operates\u00a0MegaLuck Casino at Jeju\u2019s KAL Hotel<\/strong>, had reported HK$0.4m in revenue.<\/p>\n\n\n\n

It reported a loss of HK$2.1m from its entertainment business<\/strong>\u00a0for H1 2021, down 58 per cent due to cost containment measures. Administrative and other operating expenses decreased by 32.1 per cent<\/strong>\u00a0from HK$37.5m to nearly HK$25.5m, mainly due to a decrease in operating expenses for the entertainment business.<\/p>\n\n\n\n

The company’s Glorious Hill Integrated Resort development\u00a0<\/strong>has been delayed due to financing difficulties and strict Covid-19 prevention measures.<\/p>\n","protected":false},"excerpt":{"rendered":"

New Silkroad has been seriously impacted by the Covid-19 pandemic, recording zero revenue for the first half of the year 2021.<\/p>\n","protected":false},"author":176,"featured_media":22068,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"New Silkroad Culturaltainment reported zero revenue for H1 2021, a significant decline from HK$0.4m in H1 2020, primarily due to the Covid-19 pandemic's impact on tourism and the temporary closure of its MegaLuck Casino in Jeju, South Korea. The company also recorded a HK$2.1m loss from its entertainment business, despite substantial cost containment measures, and its Glorious Hill Integrated Resort development faces delays due to financing difficulties and ongoing pandemic restrictions.","focusai_entities":"New Silkroad Culturaltainment, MegaLuck Casino, Glorious Hill Integrated Resort","focusai_location":"South Korea, Jeju","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Glorious Hill Project Outlook?","query":"What is the revised projected timeline for the Glorious Hill Integrated Resort, and what specific financing strategies are being explored to mitigate current capital difficulties and pandemic-related delays?"},{"label":"Operational Resilience Strategy?","query":"Beyond cost containment, what strategic initiatives is New Silkroad implementing to diversify revenue streams or enhance operational resilience against future market disruptions and tourism volatility?"}],"footnotes":""},"categories":[16338,163],"tags":[23907],"class_list":["post-22066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22066","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=22066"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22066\/revisions"}],"predecessor-version":[{"id":22092,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22066\/revisions\/22092"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22068"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}