Operator posts a \u20ac2.8million loss in the first three months of the year, which it has attributed to the Coronavirus crisis. <\/p>\n\n\n\n\n\n\n\n
Vietnam.- Royal International Corporation reported a loss of VND33 billion (\u20ac1.2million) in the first quarter of the year. <\/p>\n\n\n\n
The numbers follow a VND73 billion (\u20ac2.8million) loss for the 12 months to 31 December 2019. <\/p>\n\n\n\n
The company operates the largest casino in Qu\u1ea3ng Ninh Province near Hanoi, Royal Casino Ha Long. <\/p>\n\n\n\n
Despite casino revenue doubling year-on-year to VND15.4 billion (\u20ac602,000), profits were hit by a 24 per cent decline in revenues from RIC\u2019s hotel and villas to VND20.2 billion (\u20ac789,000).<\/p>\n\n\n\n
The company blamed the decline on falling tourist numbers as a result of the COVID-19 pandemic.<\/p>\n\n\n\n
The company\u2019s group-wide revenues held steady year-on-year. However, it recently halved its profit target for 2020 to \u20ac372,000 due to the on-going Coronavirus crisis. <\/p>\n","protected":false},"excerpt":{"rendered":"
Operator posts a \u20ac2.8million loss in the first three months of the year, which it has attributed to the Coronavirus crisis.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Royal International Corporation (RIC) reported a Q1 loss of \u20ac1.2 million, attributing the decline to the Coronavirus crisis and reduced tourist numbers impacting its hotel and villa operations. Despite a doubling of casino revenue, the overall group-wide revenues remained steady, leading RIC to halve its 2020 profit target to \u20ac372,000.","focusai_entities":"Royal International Corporation, RIC, Royal Casino Ha Long","focusai_location":"Vietnam, Qu\u1ea3ng Ninh Province, Hanoi, Ha Long","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"RIC's Q1 Performance","query":"What specific operational adjustments or cost-cutting measures did Royal International Corporation implement in Q1 2020 to mitigate the impact of declining hospitality revenues, and how did these affect casino GGR and NGR?"},{"label":"2020 Profit Target","query":"Given the halving of RIC's 2020 profit target, what are the underlying assumptions regarding tourist recovery and gaming vertical performance that underpin this revised guidance, and what are the key downside risks?"}],"footnotes":""},"categories":[160,163,16333],"tags":[29,94],"class_list":["post-5883","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-finance-news","category-south-east-asia-news","tag-casino","tag-vietnam"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5883","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=5883"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5883\/revisions"}],"predecessor-version":[{"id":22036,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5883\/revisions\/22036"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=5883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=5883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=5883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}