Landing expects net loss for six months to June 30

Jeju Shinhwa World Theme Park

Landing International has informed its shareholders that it expects to record a net loss for the six months ended June 30, due in part to a decrease in gaming revenue. 

Landing is a developer and operator of an iconic world-class integrated leisure and entertainment resort, offering various facilities, including casinos, luxurious hotels, exhibition centers, theme parks, attractions, international catering, spaces for retail business and property development.

It is the owner and operator of Jeju Shinhwa World in South Korea.

Landing said the net loss is attributable to a decrease in net revenue from its gaming business; a decrease in revenue from sales of residential properties; a decrease in interest income and increase in finance costs; and an increase in amortization and depreciation charges due to the progressive opening of various facilities in Jeju Shinhwa World.

Landing posted a widened loss of HK$701.5 million (US$89.4 million) in 2018.

SHARE
Previous articleIPI issues profit warning for 19H1
Next articleJCM brings Australia and Asia-Pacific expertise

Related Articles

Two directors to resign from Landing

Landing International Development Limited announced to the Hong Kong Stock Exchange on Wednesday that two of its directors will be resigning. The two in question, Bao Jinqiao and Mr. Li Mingfa, have served as independent non-executive directors and members of the audit committee, the nomination committee, and the remuneration committee. The reason given for their […]

Landing seeks HK$137.1m for Jeju ops, says 2019 loss widens

Landing International Development posted a wider loss for 2019 and said it’s seeking to raise $137.1 million ($17.6 million) through a placing of shares to support general working capital for its operations on Jeju Island, South Korea.

Landing issues profit warning for full year 2019

Landing International Development has issued a profit warning to shareholders through the Hong Kong Stock Exchange warning that the firm’s full year 2019 results are going to be grim. “The board of directors of the company,” the note said, “wishes to inform shareholders of the company and potential investors that based on the information currently […]

Landing reshuffles board and moves its head office

In a series of filings to the Hong Kong Stock Exchange on Wednesday, Landing International announced changes in the composition of its board and the move of the company headquarters to a new address. Wang Yuying, who served as the chair of the board’s audit committee resigned as an independent non-executive director. Moreover, Bao Jinqiao […]

Landing chairman files writ against alleged receivers

Landing International Development said its Chairman Yang Zhihui has filed a writ against two individuals who claim they are acting as receivers for a 50.48 percent stake in parent company, Landing International Ltd.