Imperial Pacific warns of H1 loss

Hong Kong-listed Imperial Pacific International Holdings Ltd. said in a filing that it is expected to record a significant increase in net loss for the six months ended June 30, 2015 as compared to a year ago. Imperial Pacific, which is investing in a casino project on the island of Saipan, said the loss was mainly attributable to the amortisation of prepaid casino resort developer licence payments and increased costs in developing the integrated resort business on the island, the decrease in accrued revenue from sharing of profit stream as well as the recognition of share-based payment expenses as a result of the grant of share options. Imperial Pacific is also an investor in the profit stream of Macau junket operator Heng Sheng Group.