{"id":22165,"date":"2021-08-31T11:54:34","date_gmt":"2021-08-31T14:54:34","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22165"},"modified":"2026-04-23T16:08:22","modified_gmt":"2026-04-23T19:08:22","slug":"landing-international-reports-net-loss-of-us80-1m-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/landing-international-reports-net-loss-of-us80-1m-for-h1","title":{"rendered":"Landing International reports net loss of US$80.1m for H1"},"content":{"rendered":"\n

Landing International has reported a HK$623.7m (US$80.1m) net loss for the first six months of the year, lower than the HK$792.2m (US$101.8m) loss recorded during the first half of 2020.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.-\u00a0Landing International Development<\/strong>\u00a0has shared its financial results for the first half of the year, reporting a HK$623.7m (US$80.1m) net loss.<\/p>\n\n\n\n

Revenue was HK$476.6m<\/strong>,\u00a0up 81.8 per cent<\/a>\u00a0from the HK$262.1m registered in H1 2020. Net revenue came in at HK$58.7m, down 42 per cent when compared to HK$101.1m in H1 2020.<\/p>\n\n\n\n

The company reported that 74 per cent of revenue was derived from a boost in non-gaming business at Jeju Shinhwa World on South Korea\u2019s Jeju Island through a series of marketing campaigns. Nonetheless,\u00a0non-gaming business saw a loss of HK$291.7m<\/strong>. <\/p>\n\n\n\n

Landing’s\u00a0gaming segment loss reached HK$248m<\/strong>, compared to HK$71m in H1 2020.<\/p>\n\n\n\n

In May, the company announced it had entered into a subscription agreement<\/a> for HK$0.197 per subscription share<\/strong>. It expected to raise HKD138.8m (US$17.9m)<\/strong>, or HKD138.5m after expenses, for the maintenance, renovation and upgrade of the existing facilities at Jeju Shinhwa World.<\/strong><\/p>\n\n\n\n

The company said it wanted to use part of the money for the \u201cpreliminary development cost for the construction of new hotel within Jeju Shinhwa World<\/strong>, which is expected to be incurred from the second half of 2021.\u201d <\/p>\n\n\n\n

The remaining balance will be used for the payment of interest expenses and general working capital<\/strong>.<\/p>\n\n\n\n

For 2020, Landing International<\/a> reported a net loss of approximately HKD2.12bn (US$272.0m)<\/strong>, slightly below the net loss of HKD2.13bn reported in 2019. It reported gaming revenue down 12.5 per cent year-on-year<\/strong> at HKD186.49m and consolidated revenue down 3.4 per cent to HKD788.01m.<\/p>\n","protected":false},"excerpt":{"rendered":"

Landing International has reported a HK$623.7m (US$80.1m) net loss for the first six months of the year, lower than the HK$792.2m (US$101.8m) loss recorded during the first half of 2020.<\/p>\n","protected":false},"author":176,"featured_media":22179,"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 reported a net loss of HK$623.7m for H1 2021, an improvement from H1 2020, with revenue up 81.8% driven primarily by non-gaming business at Jeju Shinhwa World. The company secured HK$138.8m through a subscription agreement to fund facility upgrades, new hotel development, and working capital.","focusai_entities":"Landing International Development, Landing International","focusai_location":"Hong Kong, South Korea, Jeju Island","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Jeju Shinhwa World ROI?","query":"What is the projected ROI and timeline for the new hotel development at Jeju Shinhwa World, and how will it impact the non-gaming segment's profitability and overall GGR contribution?"},{"label":"Gaming Segment Strategy?","query":"Given the significant gaming segment loss, what specific operational adjustments or market strategies are being implemented to mitigate this trend and improve NGR in H2 2021?"}],"footnotes":""},"categories":[16338,163],"tags":[23907,23924],"class_list":["post-22165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-land-based-casino","tag-landing-international"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22165","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=22165"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22165\/revisions"}],"predecessor-version":[{"id":22189,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22165\/revisions\/22189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22179"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}