Gaming investor and casino operator Landing International has informed that revenues for FY2019 will be flat.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.- Gaming investor Landing International Development has issued a statement to shareholders through the Hong Kong Stock Exchange warning the firm\u2019s full year 2019 financial results will reveal a substantial loss. <\/p>\n\n\n\n
The company reported a loss of US$89.4 million in 2018, down from a profit of US$64 million the previous year, and expects the net loss to widen by no less than 160% for FY19. <\/p>\n\n\n\n
This implies a net loss in excess of $200million for the 12 months ended 31 December 2019. <\/p>\n\n\n\n
\u201cThe board of directors of the company wishes to inform shareholders of the company and potential investors that based on the information currently available to the board, the group expected to record a substantial increase in net loss for the year ended 31 December 2019 by not less than 160% as compared to the year ended 31 December 2018,\u201d, the company said in a statement.<\/p>\n\n\n\n
\u201cThe increase in expected net loss was mainly attributable to (i) significant decrease in net revenue from gaming business; (ii) decrease in fair values of investment properties; (iii) impairment of property, plant and equipment; (iv) decrease in interest income and increase in finance cost; and (v) increase in depreciation charges due to progressive opening of various facilities and provision for impairment of trade and other receivables,\u201d it added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gaming investor and casino operator Landing International has informed that revenues for FY2019 will be flat.<\/p>\n","protected":false},"author":2,"featured_media":4126,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Gaming investor and casino operator Landing International Development has issued a profit warning via the Hong Kong Stock Exchange, projecting a net loss increase of no less than 160% for FY2019, exceeding $200 million. This substantial financial deterioration is primarily attributed to a significant decline in gaming business net revenue, coupled with decreases in investment property fair values, asset impairments, increased finance costs, and depreciation from new facility openings.","focusai_entities":"Landing International Development, Hong Kong Stock Exchange","focusai_location":"Hong Kong","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Capital Structure & Liquidity?","query":"What specific measures is Landing International implementing to address its deteriorating capital structure and ensure sufficient liquidity given the projected substantial net loss and increased finance costs?"},{"label":"Gaming Vertical Performance?","query":"Can Landing International provide a more granular breakdown of the 'significant decrease in net revenue from gaming business,' distinguishing performance across VIP, mass market, and potentially non-gaming segments?"}],"footnotes":""},"categories":[160,16338,163],"tags":[29,512,1619],"class_list":["post-4355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","tag-casino","tag-gaming","tag-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4355","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=4355"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4355\/revisions"}],"predecessor-version":[{"id":20084,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4355\/revisions\/20084"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/4126"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=4355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=4355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=4355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}