Macau | Junket operator Rich Goldman profits fall 35 pct y-o-y in H2 2017

Macau (MNA) – Local junket operator Rich Goldman Holdings Limited – formerly Neptune Group Limited – announced this Saturday that it expects to see a 35 per cent year-on-year decrease in profit for the last half of 2017, falling to HK$39.8 million.

In a filing to the Hong Kong Stock Exchange, the gaming company also revealed that its revenue fell by half, mainly due to the cessation of profit stream resulting from the termination of its junket operations at the Sands China property The Venetian Macao last year.

In June and July 2017, the company announced that Venetian Macau Limited (VML) had written a notice to Neptune’s junket providers in the property, Hou Wan Entertainment Company Limited and Hao Cai Sociedade Unipessoal Limitada, to terminate their operations.

These operations represented 67.3 per cent of the group’s total revenue in the first half of 2016, or some HK$187.1 million.

In addition to its VIP junket business in Macau, Rich Goldman principally engages in the money lending business and hotel operations.