CY Foundation Group Ltd., the parent company of Macau-based casino services provider CY Management Ltd., registered a widened loss of HK$140.3 million (US$17.5 million) for the six months ended September 30, compared to HK$11.9 million one year ago. The group claimed that the loss is driven by ‘the decline in the Macau gaming market’. Of the total loss, that of the group’s electronic gaming business amounted to HK$96.5 million compared to HK$4.7 million during the same period last year, according to its filing with the Hong Kong Stock Exchange last Friday. The Hong Kong-listed company said that the loss is due to an impairment of goodwill of some HK$48.2 million driven by the local gaming downturn in addition to an impairment of intangible assets of approximately HK$34.8 million. Meanwhile, the company’s revenue generated by the electronic gaming businesses also dropped 11.1 per cent year-on-year for the six months to HK$57 million from HK$64.1 million during the same period of last year. The revenues from the sector accounted for 71.6 per cent of the company’s total revenue. ‘The Group expects that the effects of the anti-corruption campaign and the economic downturn in the People’s Republic of China will continue to impact the performance of the electronic gaming business in Macau in the remaining [part] of the financial year ending 31 March 2016,’ the operator said in the filing. ‘Nevertheless, the Group is exploring new business opportunities in other Asian countries to diversify the risk which is expected to bring revenue to the Group,’ it added.