Suncity Group expecting a swing into profits in H1
Thursday 26 de August 2021 / 07:39
⏱ 1 min read
(Hong Kong).- Hong Kong-listed Suncity Group has informed shareholders it expects to record a profit between RMB180 million and RMB240 million (US$37 million/MOP296.9 million) in the first six months of this year.
This would represent an improvement from the RMB118.6 million in losses registered in the same period of last year.
In the announcement signed by chairman Alvin Chau, Suncity indicated that The COVID-19 pandemic has continued to ‘negatively impact’ its overall business especially revenue from travel-related products and services, which significantly decreased from approximately RMB67.7 million last year to RMB26.9 million between January and June of 2021.
The Hong Kong-listed group does not include Suncity’s VIP junket operations, with its business cope mainly covering property development and leasing, provision of hotel and integrated resort general consultancy service, and operation of integrated resorts.
The group’s turn into profit was attributed to a gain on change in fair value of derivative financial instruments amounting to approximately RMB449.4 million, and the gain on the disposal of the entire equity interest in the group’s Chinese property development arm, Access Achievement Limited, for approximately RMB167.8 million.
Still, the results were offset by finance costs of approximately RMB123.1 million and the share of loss of a joint venture of approximately RMB139.9 million.
By
Nelson Moura
Categoría:Casino
Tags: Sin tags
País: Hong Kong
Event
GAT EXPO CARTAGENA 2026
24 de March 2026
GAT Expo Cartagena 2026 came to an end after a resounding success
(Cartagena de Indias).- With this closing, GAT Events continues its remarkable 2026 circuit with upcoming stops in Mexico City, São Paulo, San Juan, Bogotá and Santo Domingo, consolidating its presence as a B2B platform for the development of the legal gaming business in Latin America and the Caribbean.
Friday 27 Mar 2026 / 12:00
Latin American Regulators Unite to Tackle Illegal Gambling and Highlight Risks for Minors
(Cartagena de Indias, SoloAzar Exclusive).- At GAT Expo Cartagena 2026, Jesús Mariano Acevedo, President of LOTBA (Buenos Aires City Lottery), took part in the regulators’ panel where he analyzed online gaming challenges, the rise of illegal gambling, and the need for a joint strategy between the public and private sectors in the region.
Friday 27 Mar 2026 / 12:00
Nevada’s Regulatory Model Offers Key Lessons for Latin America at GAT Expo Cartagena 2026
(Cartagena de Indias, SoloAzar Exclusive).- During GAT Expo Cartagena 2026, SoloAzar provided exclusive on-site coverage of the international conference “Lessons from Nevada’s Regulatory Model for Latin America,” where Brian Krolicki, Vice Chairman of the Nevada Gaming Commission, delivered a comprehensive overview of regulatory best practices, emphasizing that “strong regulation is not the enemy of a successful gaming industry—it is the foundation that makes long-term growth possible.”
Thursday 26 Mar 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.