Lo held 6.87bn shares of LET Group Holdings Ltd <\/strong>through his controlled corporations, of which 4.99bn were held as shares and 1.88bn as underlying shares under equity derivatives, representing approximately 103.08 per cent of the company’s shares in issue.<\/p>\n\n\n\nLo as a beneficial owner also holds 41.23m shares of the LET Group Holdings, 1.23m being held and 40m being underlying shares held under equity derivatives, representing approximately 0.61 per cent of the total shares in issue.<\/p>\n\n\n\n
LET Group Holdings revenue up 32% in H1<\/h2>\n\n\n\n
As previously reported by Focus Gaming News, the company reported that revenue from continuing operations increased by 32 per cent to approximately HK$190.4m (US$24.2m) in the first half of the year.<\/p>\n\n\n\n
The group reported that\u00a0gross profit from continuing operations increased by 132 per cent<\/strong>\u00a0to approximately HK$93.7m with a loss of HK$252.9m. Consolidated adjusted EBITDA from continuing operations was approximately positive HK$50.6m versus negative HK$8.1m for the six months ended June 30.\u00a0<\/p>\n\n\n\nIn its financial report, the company said construction of the Westside City Project in the Philippines continued. It said foundation works had been completed and cranes had been erected. When all phases of the Westside City Project are ready, it will have approximately 300 gaming tables, over 1,300 electronic gaming machines and over 450 five-star hotel rooms. The completion date remains as\u00a0scheduled for 2024<\/strong>.<\/p>\n\n\n\nLET Group Holdings said it remains cautiously optimistic about its long-term strategic<\/strong> positioning in the Asian entertainment space.<\/p>\n","protected":false},"excerpt":{"rendered":"The company has announced that Lo Kai Bong has been appointed as the chairman of the board.<\/p>\n","protected":false},"author":176,"featured_media":10260,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"LET Group Holdings, formerly Suncity Group, has appointed Lo Kai Bong as chairman, effective immediately. The company reported a 32% revenue increase in H1 2023, alongside significant gross profit growth and positive adjusted EBITDA. Construction of the Westside City Project in the Philippines is progressing, with completion still slated for 2024, reinforcing the group's cautious optimism in the Asian entertainment market.","focusai_entities":"LET Group Holdings, Suncity Group Holdings Limited, Lo Kai Bong, Summit Ascent Holdings Limited, Focus Gaming News","focusai_location":"Macau, Philippines","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.85), journalist_researcher (0.92)","focusai_suggestions":[{"label":"Chairman's Strategic Impact?","query":"What are the strategic implications of Lo Kai Bong's appointment, given his M&A background and significant shareholding, for LET Group's future capital allocation and market expansion within the Asian entertainment space?"},{"label":"Westside City Market Impact?","query":"How will the projected gaming capacity of the Westside City Project (300 gaming tables, 1,300 EGMs) impact the competitive landscape and GGR forecasts for the Manila integrated resort market upon its 2024 completion?"}],"footnotes":""},"categories":[157,16338],"tags":[24197],"class_list":["post-33135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-let-group-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33135","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=33135"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33135\/revisions"}],"predecessor-version":[{"id":33157,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33135\/revisions\/33157"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10260"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=33135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=33135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=33135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}