Macau | Local branch of Confucius Institute operative by early 2018
| 10:00pm
Film Festival | Hunting Season wins the Best Film Award at IFFAM
| 09:28pm
Macau | Future uncertain for Canidrome dogs as deadline looms
| 09:17pm
Macau | Local hotel industry service is on top of the list in Asia - Hotelier Awards Director
| 06:58pm
Two astronauts, cosmonaut return from five-month ISS mission
| 06:43pm
Macau | Record-breaking land transaction in Macau SAR confirmed, William Kwan vendor in the deal
| 06:27pm
Macau | Gov't striving to complete internal legislative procedure for taxi regulations by Q1 2018 - Sonia Chan
| 06:21pm
Film Festival | Brazilian director and producer at IFFAM Project Market highlight feedback from industry
| 06:13pm
Seven decades in the making, EU set to sign defence pact
| 06:00pm
Macau Lifestyle | DFS Masters of Time luxury watch exhibition to be held until Feb. 28, 2018
| 05:53pm

Success Dragon’s annual net loss widens

Gaming services firm Success Dragon International Holdings Ltd., formerly known as C Y Foundation, posted a widened net loss of HK$231.5 million (US$28.8 million) for its fiscal year ended March 31, compared to a net loss of HK$47.3 million one year ago. The Hong Kong-listed company said in a filing yesterday that its total revenue […]

Gaming services firm Success Dragon International Holdings Ltd., formerly known as C Y Foundation, posted a widened net loss of HK$231.5 million (US$28.8 million) for its fiscal year ended March 31, compared to a net loss of HK$47.3 million one year ago.
The Hong Kong-listed company said in a filing yesterday that its total revenue amounted to HK$153.7 million for the fiscal year, down 14.6 per cent or HK$26.3 million compared to HK$180 million for the previous year.
According to Success Dragon, the decrease in revenue is due to ‘the drop in the performance in the outsourced business process management and the decline in revenue and margin for the packaging products business.’
The company’s revenue generated from outsourced business process management, which is primarily on electronic gaming equipment in Macau, declined by 10.9 per cent year-on-year to HK$119.8 million, whilst the segment also registered a higher loss of HK$113.9 million compared to HK$21.6 million one year ago.
‘While the challenge in the Macau gaming industry may continue to exist in the coming year, the Group will continue to improve and enhance the operating efficiency in the casinos in which we currently provide management services,’ the gaming services firm said in the filing.
‘Apart from the business in Macau, the Group has been actively seeking opportunities to expand this segment of business in other emerging counties, with the first country being Vietnam,’ it added.

OPINION

624 POSTS0 COMMENTS
228 POSTS0 COMMENTS
186 POSTS0 COMMENTS
103 POSTS0 COMMENTS