Losses hit \u20ac336million in 2018 and the casino investor and developer expect this to worsen for the 12 months ended 31 December 2019. <\/p>\n\n\n\n\n\n\n\n
Hong Kong.- Casino developer Imperial Pacific International Holdings Ltd has warned that it expects net losses to increase for the full year of 2019.<\/p>\n\n\n\n
The casino investor and developer reported a net loss of HKD2.97 billion (\u20ac336million) for FY18, compared to a profit HKD637.5 million (\u20ac72million) in 2017.<\/p>\n\n\n\n
The company reported a net loss of HKD1.88\u00a0billion (\u20ac204million) for the first six months of 2019, as gaming revenue for the period declined by\u00a082.5\u00a0per cent year-on-year, according to the firm\u2019s interim report published in August.<\/p>\n\n\n\n
“The expected increase in net loss is mainly attributable to the considerable decrease in total revenue and gross profit and the impairment of trade receivables,” the Hong Kong-based firm said in a statement. <\/p>\n\n\n\n
The company said its full-year accounts were still being finalised, and that it expects to publish its results at the end of the month.<\/p>\n\n\n\n
Imperial Pacific reported group-wide revenue of HKD3.25 billion (\u20ac368 million) for FY18, down 58.2 per cent from a year earlier. <\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Losses hit \u20ac336million in 2018 and the casino investor and developer expect this to worsen for the 12 months ended 31 December 2019.<\/p>\n","protected":false},"author":2,"featured_media":4372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Imperial Pacific International Holdings Ltd anticipates a significant increase in net losses for FY2019, following a reported net loss of HKD2.97 billion (\u20ac336 million) in FY2018. This deterioration is primarily attributed to a substantial decrease in total revenue and gross profit, alongside impairment of trade receivables, with gaming revenue declining 82.5% year-on-year in H1 2019.","focusai_entities":"Imperial Pacific International Holdings Ltd","focusai_location":"Hong Kong","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"What caused revenue decline?","query":"What specific market dynamics or operational failures contributed to Imperial Pacific's 82.5% year-on-year gaming revenue decline in H1 2019, beyond general market conditions?"},{"label":"Solvency and liquidity?","query":"Given the escalating net losses and impairment of trade receivables, what is Imperial Pacific's current liquidity position and what measures are being implemented to ensure ongoing solvency?"}],"footnotes":""},"categories":[160,28,16338,158],"tags":[29,1619],"class_list":["post-4362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-east-asia-news","category-slider-home","tag-casino","tag-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4362","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=4362"}],"version-history":[{"count":7,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4362\/revisions"}],"predecessor-version":[{"id":21537,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4362\/revisions\/21537"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/4372"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=4362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=4362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=4362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}