Success Dragon to sell gaming service business

Gaming service firm Success Dragon International Ltd. will drop its gaming machine management business in the MSAR and betting business in Vietnam within one year in order to focus on the energy field, reported Hong Kong Chinese language newspaper Ming Pao.
The news outlet quoted the company’s Executive Director and Chief Executive Officer Jiang Dan as saying that the disposal of the company’s current businesses of gaming service provision, product packaging and betting will be completed within one year; the total value of the three segments is expected to be less than HK$100 million (US$12.5 million).
At the end of last month, Mr. Jiang replaced Carlos Luis Salas Porras as CEO of the firm. The new company executive previously served as chief investment officer of Sinochem Europe Capital Limited and Sinochem Hong Kong Group Limited – companies which engage in the production and trading of chemicals and fertilizer, and the exploration and production of oil.
One day following news of the appointment, the company announced it had completed the purchase of 20.82 per cent of the shares in Primus Power Corporation for a total of US$20 million. The latter specialises in the provision of electrical energy storage system solutions. 
In fact, Success Dragon has already terminated its agreement with two slot clubs in Vietnam for the provision of electronic gaming machine management this year, citing ‘unexpected difficulties in obtaining the requisite business certificates for operation of electronic gaming machine business’ in the Southeast Asian country.
For the first half of its fiscal year ended September 30, 2016 the company posted a net loss of HK$30.2 million, an improvement of 78.5 per cent from HK$140.3 million for the same period of 2015.
In the MSAR, the company provides electronic gaming management to Pharaoh’s Palace Casino and Casino Casa Real on the Macau Peninsula, in addition to Casino Grandview in Taipa.