Starlight Culture Entertainment has announced it is terminating all of its gaming business interests.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.- Starlight Culture Entertainment Group has confirmed it will cease all of its gaming projects.<\/p>\n\n\n\n
According to a filing delivered to the Hong Kong Stock Exchange, the company’s new focus is on film production.<\/p>\n\n\n\n
The group, which was formerly known as Jimei International, was a junket operator controlled by veteran Jack Lam. <\/p>\n\n\n\n
Jimei International operated VIP rooms at Jimei Casino, Wynn Macau, City of Dreams and Altira, with agreements at Crown Perth and The Star in Australia, and NagaWorld in Cambodia.<\/p>\n\n\n\n
The name of the company changed in 2017 when it first began to shift away from gaming.<\/p>\n\n\n\n
Starlight Culture indicated that on February 20 the company\u2019s board of directors had decided to terminate its entertainment and gaming operations in order to focus resources on its media and culture business.<\/p>\n\n\n\n
Starlight intends to allocate more resources to media and culture segment with its efforts focused on exploring opportunities in mainland China.<\/p>\n\n\n\n
The group said: “As at 30 June 2020, the entertainment and gaming business was classified as a discontinued operation. With this business being classified as a discontinued operation, the gaming and entertainment business segment were no longer included in the note for operating segment information.”<\/p>\n\n\n\n
The group reported HK$12.1 million (US$1.5 million) in net profit attributable to owners of the company for the first half of the year. <\/p>\n","protected":false},"excerpt":{"rendered":"
Starlight Culture Entertainment has announced it is terminating all of its gaming business interests.<\/p>\n","protected":false},"author":2,"featured_media":9547,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Starlight Culture Entertainment Group, formerly Jimei International, has announced the termination of all its gaming business interests to pivot entirely towards film production and media in mainland China. This strategic shift follows the classification of its entertainment and gaming segment as a discontinued operation as of June 30, 2020, impacting its former role as a significant junket operator in Macau, Australia, and Cambodia.","focusai_entities":"Starlight Culture Entertainment Group, Jimei International, Jack Lam, Jimei Casino, Wynn Macau, City of Dreams, Altira, Crown Perth, The Star, NagaWorld, Hong Kong Stock Exchange","focusai_location":"Hong Kong, Macau, Australia, Cambodia, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.8), payments_fraud_aml (0.7), investor_analyst (0.9), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Impact on Macau VIP Market?","query":"What is the projected impact of Starlight Culture Entertainment's exit on the competitive landscape and GGR contribution from the Macau VIP junket segment, particularly for its former partner casinos?"},{"label":"Asset Divestment Strategy?","query":"Given the strategic pivot, what is the company's plan for divesting any remaining gaming-related assets or intellectual property, and what are the financial implications of this process?"}],"footnotes":""},"categories":[160,157,16338],"tags":[512,1619],"class_list":["post-9543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-business-news","category-east-asia-news","tag-gaming","tag-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9543","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=9543"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9543\/revisions"}],"predecessor-version":[{"id":9549,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9543\/revisions\/9549"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9547"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}