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Martial arts add punch to Grand Ho Tram casino resort: CEO

The Grand Ho Tram, a Vietnam resort with foreigner-only casino, is using high-profile events to help drive its gaming and hotel business. That is according to Walt Power (pictured), chief executive of The Grand Ho Tram Resort and Casino, speaking in an interview with GGRAsia.

A latest example was the “Fight Mania” night on Saturday, by the World Boxing Organization (WBO) Asia Pacific, with a six-bout card featuring some of the brightest talent from the region, and including fighters from South Korea, an important target market for The Grand Ho Tram, according to its CEO. The event was held in the property’s 1,254-square-metres (13,498 sq. feet) ballroom, and broadcast on Vietnamese television, to an audience said by the ring announcer to be in the “millions”.

Such events are “critical” to the property’s success, explained Mr Power, in helping to attract the likes of martial arts fans and others to make the two-and-a-half hour road trip from Ho Chi Minh City, to Ho Tram on Vietnam’s southern coast. The executive, a veteran of Macau casino operations, has been in his current role for four years, and said he immediately recognised the value of expanding his property’s events roster to drive its trade.

While The Grand Ho Tram’s casino (pictured below) is not currently authorised to serve locals, Mr Power says expatriates from South Korea, Taiwan and elsewhere, with business interests in Vietnam and based in cosmopolitan Ho Chi Minh City, a metropolis of more than nine million, are an important component of its clientele.

Mr Power stated: “When we have these special events, whether it’s boxing, MMA [mixed martial arts], casino VIP events – we’ve had horse racing on the beach recently – the casino performance goes way up. The numbers speak for themselves.”

Combat sports events “have the highest [casino] drop for a weekend period,” he added.

The major investor in The Grand Ho Tram is private equity firm Warburg Pincus LLC, and so the property does not make public specific operating numbers in the manner of publicly-listed casino companies. Vietnam-focused investment manager VinaCapital is also a backer.

BY: 슬롯머신

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‘The fight for the third place for the championship is also a fierce battle’… The V-League women’s tournament is also in chaos

IBK Industrial Bank of Korea won a set score 3-0 (25-21, 25-21, 25-21) at home against GS Caltex in the fifth round of the 2023-2024 Dodram V-League held at the indoor gymnasium of Hwaseong Sports Town, Gyeonggi-do at 4 p.m. on the 18th.

IBK Industrial Bank of Korea had 43 points (14 wins and 15 losses) to catch up with GS Caltex, which lost on the day, by a two-point margin. GS Caltex, which has lost three consecutive games, ranked fifth and ranked fourth with 45 points (16 wins and 13 losses).

It was a complete victory for IBK Industrial Bank of Korea, as evidenced by its set score. IBK Industrial Bank of Korea scored 23 points (60 percent attack success rate). Middle blocker Choi Jung-min scored 15 points (47.62% attack success rate) on the day, and five of them were blocked alone. He also made nine effective blocks.

On the other hand, GS Caltex employees showed the worst performance. Ace Giselle Silva scored 27 points (51.02% attack success rate), but both ball and ball were no match for IBK Industrial Bank. GS Caltex employees suffered from lack of attack power by an outsider heater, height of a middle blocker, and shaky setter, which have always been mentioned as problems with GS Caltex employees, but suffered a complete defeat in just one game. GS Caltex employees suffered a lethargic defeat without even playing properly.

As a result of the match, the mid-range fight is now in fog. The third-ranked team in the V-League will advance to the postseason. If the gap between the fourth and third-ranked teams is less than three points, the third-ranked team will have a single playoff.

Currently, all five teams in the V-League are engaged in a fierce battle except for Pepper Savings Bank, which is confirmed to be at the bottom, and Korea Expressway Corporation, which is likely to be ranked sixth.

The rankings are as follows. Hyundai E&C is leading the league with 67 points. Heungkuk Life Insurance (64 points) comes in second. Hyundai E&C continued to dominate throughout the season, but the game changed in the fifth round as Heungkuk Life Insurance won five consecutive games thanks to its new foreign player Willow Johnson.

On the other hand, Hyundai Engineering & Construction slowed down a bit in the fifth round with three wins and two losses. In particular, in the showdown with Heungkuk Life Insurance on the 12th, they suffered a shocking 0-3 defeat. From Hyundai Engineering & Construction’s point of view, the nightmare of slipping at the end of last year’s league lead is likely to come to mind again. The regular league championship is expected to be down to one of the two teams.

Currently, the third place in the league is the chairman of the articles of association with 47 points. GS Caltex (45 points) and IBK Industrial Bank (43 points). With seven more games to go until the end of the regular season, the rankings may change significantly.

As of the end of the third round, Chung finished fifth. However, when Lee returned to the fourth round, he formed a triangle formation consisting of Lee So-young, Megawatti Puttywi and Giovanna Milana, which instantly elevated his ranking. Also, Chung has a national middle blocker named Jeong Ho-young and Park Eun-jin. Considering his performance so far, Chung has the highest chance of ranking third.

GS Caltex, ranked fourth, is currently the worst performing team among the teams engaged in a mid-range fight. As revealed in the game, there are a number of problems. In addition, GS Caltex manager Cha Sang-hyun left the game due to elbow surgery, facing unfavorable external conditions. Against this backdrop, GS Caltex will hold a six-point game with Chung Kwan-jang on the 21st. Depending on the result of the game on the 21st, it will be clear whether GS Caltex will advance to this season’s spring volleyball tournament.

IBK Industrial Bank of Korea, ranked fifth and the last mid-ranking competitor, revived hope by winning the match. Middle blocker Kim Hyun-jung has shown good performances recently, forming a solid middle ground with Choi Jung-min. Abercrombie, the No. 1 player in the foreign player draft, and Ponfun Gedfard, the No. 1 player in the Asian quarter, are both undefeated. If Pyo Seung-joo and Hwang Min-kyung ease Abercrombie’s burden on offense, they will be able to advance to the postseason.

The end of the regular season is just around the corner, but the current women’s team in the V-League is chaotic. The exciting ranking battle is expected to heat up the volleyball court at the end of the season.

BY: 토토사이트링크

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Germany didn’t forget about the 獨 media, “Klinsman? He was like that in 2006 too… Don’t even dream about Kim Min-jae’s map.”

“Frankfurter Rundschau ended in just one year,” said Frankfurter Rundschau on Wednesday (Korea time). Klinsmann is no longer the coach of the Korean national team. His elimination at the Asian Cup was his downfall just like the German team.” 

The Klinsmann team had a mismatch from the start. Shortly after taking office, the team had one draw and one loss in two matches, and in June last year’s friendly matches with Peru and El Salvador, which were considered lower than the previous team, it had one draw and one loss, failing to secure four consecutive wins. Later, at a press conference in which he claimed himself, he made an unusual statement, asking, “I want to ask the opposite. What kind of soccer do you want me to play?”

When Klinsmann was inaugurated as the Korean national team, he failed to keep his promise of staying in Korea. Whenever he had time, he flew to the U.S. and worked from home. Even at Klinsmann’s request, the KFA abolished the press conference on the announcement of the national team’s roster. He hoped that Klinsmann would like everything to suit his taste.

Fortunately, the team showed good performance in the second qualifying round for the Asia region for the 2026 North-Central America World Cup. It secured a landslide 5-0 win against Singapore in the first round match, which was considered a step lower, and rose to No. 1 in its group by winning 3-0 away to China. However, it was just as good so far. Since then, the Klinsmann team has collapsed uncontrollably. 

In particular, the 2023 Asian Football Confederation (AFC) Qatar Asian Cup was a decisive opportunity for the collapse of the “Klinsman.” The Korean national team had a “super-luxury” member such as Son Heung-min, Kim Min-jae, Hwang Hee-chan and Lee Kang-in at the Asian Cup, and was eventually eliminated after losing 0-2 to Jordan in the semifinal.

His attitude also became problematic. After finishing the third group match with Malaysia at a 3-3 draw, he said, “It was an interesting match as I scored many goals.” After the semifinal match with Jordan, Son Heung-min, the captain of the Korean national team, was crying while clapping his hands and smiling all the time, showing the worst performance ever.

Even after arriving in Korea, Klinsmann told a press conference on his arrival at Incheon International Airport that he had no loss in 13 matches. He made it to the semifinals of the competition. It is hard to say that he failed. I think he is very positive about his advance to the semifinals. I want to commend our players. There were many positive aspects in difficult situations.”

In addition, his shocking remarks at the arrival press conference made the people angry once again as he secretly left for the U.S., where his home is located, on the 10th before the soccer fans’ anger disappeared. Even during the tournament, Lee Kang-in and Son Heung-min clashed for the first time.

In the end, the Korea Football Association decided to replace Klinsmann. Chung Mong-kyu, chairman of the Korea Football Association, convened a meeting of key KFA executives and announced the replacement of Klinsmann. “Coach Klinsmann made the decision because he failed to display the coaching ability he wanted to coach the national team, including game management, player management, and work attitude,” Chung said.

“Klinsmann has never won the first five games of the Korean national team. Spending more time overseas than in Korea was not as welcoming as he did when he was coach of the German national team. Routine in Germany, which has been a long time ago, was also a reason for the lack of support from soccer associations, experts and of course fans,” the media said. 

During the 2006 World Cup in Germany, Klinsmann was the head coach of the German national team, and ranked the worst performing team in Euro 2004 to the third place in two years. However, he was also complacent in taking care of things through telecommuting, where he was reported to the U.S., and notified his resignation after the World Cup, saying it was time to take a break. 

He failed to control the team even during the World Cup. Klinsmann, who had no control over players at the time, lost control of their behavior. After the quarterfinal match against Argentina, Germany’s Torsten Prings was suspended for one game by beating Argentina’s Julio Kruse for no reason in the locker room, and was unable to play in the semifinal match against Italy, where the team lost 0-2. 

In addition, unlike the national team, he failed to produce any results at a club. When he was a coach of Bayern Munich, he recorded 25 wins, nine draws, and 10 losses overall, becoming the first and only coach to fail to win any of Munich’s official titles since the 21st century. At Hertha Berlin, she announced her resignation through her SNS without previous notice, showing irresponsibility. 

“Klinsmann could head back to Germany. Thomas Tuchel is now facing criticism from his club, Munich. A successor is already being discussed. Klinsmann is not one of the candidates. Klinsmann, who served as Munich’s coach from 2008 to 2009, remains a negative example for Munich,” the media reported.

BY: 스포츠토토핫

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With licenses in hand, Korean game companies bet big on China

People play video games at an internet cafe in Beijing, China, Jan. 8.  EPA-Yonhap

Korean video gaming companies, grappling with geopolitical risks and regulatory pressure in China over the past few years, are seeing a future in the world’s largest video gaming market with newly granted licenses and more upcoming titles, according to industry insiders and analysts, Thursday.The top three video gaming companies in Korea — Nexon, NCSoft and Netmarble — have all received licenses in the latest batches approved by China’s gaming regulator. Nexon’s Dungeon & Fighter (DnF) Mobile and Netmarble’s The King of Fighters All Star were among the 32 approved foreign titles announced on Feb. 2, while NCSoft’s Blade & Soul 2 was one of the 40 titles approved for import last December.The most notable title was DnF Mobile, a role-playing game developed by Nexon and operated in China by Tencent Holdings, which runs the world’s largest video gaming business by revenue. The game was adapted from Nexon’s flagship PC title, DnF, which was launched as early as 2005 and became one of the highest-grossing video games ever, with over $22 billion in lifetime revenue as of June 2023.

The approval of the game came as a surprise, as DnF Mobile did not have a smooth journey in the country. Nexon originally planned to release the mobile game in China in collaboration with Tencent in August 2020, but the companies suddenly canceled the launch even though it had more than 60 million pre-reservations at that time, citing the need to adjust to regulatory requirements. DnF Mobile was released in Korea in 2022.On Tuesday, a team of designers of the game said through its official WeChat account that a new round of testing will start at the end of February, after “our preparations have finally entered a new stage.” The mobile title is just one of the latest examples of how Korean game companies are betting big on the Chinese market, as they have received more than a dozen licenses since late 2022, when Beijing started to ease years of controls on Korean game companies’ operations in the territory.China started a crackdown on the video gaming industry in late 2021 with an 18-month licensing freeze on foreign games. What further choked the Korean game industry was Beijing’s ban on Korean cultural imports that started in 2017 in retaliation against Korea’s deployment of the U.S. THAAD anti-missile system.

In December 2022, seven Korean titles — including Lost Ark by Smilegate, MapleStory M by Nexon and Ni no Kuni: Cross Worlds by Netmarble, were among the first batch of 44 licenses given to the foreign games after the crackdown. By early February, when the latest batch was released, the number of approved Korean games had grown to at least 18.The increased approvals were seen as an apparent signal that the country is easing its controls on Korean video games. Before that, only two Korean games had received the licenses in the six years since 2017.With the licenses, the Korean companies have launched or have been staging an entry of their titles, such as DnF Mobile’s testing and Netmarble’s launch of Ni no Kuni: Cross Worlds in the first half of 2024.DnF Mobile has raised high expectations from both China’s gaming community and industry watchers. Many players took to social media to express their excitement about the approval. At the same time, analysts have also expressed expectations that the game will come as a revenue boost for both Tencent 슬롯게이밍 and Nexon.

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Reform Party strives to differentiate itself from rivals

Reform Party Co-Chairman Lee Jun-seok, second from left, speaks during the party's Supreme Council meeting at the National Assembly in Seoul, Tuesday. To his left, Lee Nak-yon, the party's other co-chairman. Yonhap

Reform Party Co-Chairman Lee Jun-seok, second from left, speaks during the party’s Supreme Council meeting at the National The Reform Party, a big-tent political party comprised of politicians who broke away from their former parties, held its inaugural Supreme Council meeting, Tuesday, promising that it will end “the meaningless competition” between President Yoon Suk Yeol and main opposition Democratic Party of Korea (DPK) Chairman Rep. Lee Jae-myung.“The most wanted political reform that the people desire is ending the meaningless competition between Yoon and Lee which has lasted for the past few years,” its Co-Chairman Lee Jun-seok said.“Our party will be the strongest check on the president, who has been solely focused on consolidating his power while neglecting his duty of achieving a prosperous nation for the people.”

He denounced both the DPK and the ruling People Power Party (PPP), saying they have failed to address “issues that should have been addressed.”“How can we expect social reform from the PPP, which is obsessed with a battle against activist-turned-politicians?” Lee said, referring to PPP interim leader Han Dong-hoon’s catchphrase of clearing out the privilege-based politics by activist-turned-politicians. “Those in their 20s and 30s who spent their college and university days in the 2000s never had a chance to experience student activism.”Lee also criticized the DPK, which is championing the catchphrase “handing down judgment to the Yoon administration’s prosecutor autocracy.”“Most ordinary citizens are living without ever visiting a police station, and the main opposition party is coercing them to engage in a showdown with the prosecution,” he said. “Unlike them, we have to take care of issues that must be addressed, even if they require debate.”Reform Party Co-Chairman Lee Nak-yon stressed the unity between the different political groups that joined the party. The Reform Party was created, Friday, in a merger between four political parties comprised of both conservative and liberal breakaway members from the main rival parties. Lee Jun-seok was a former PPP chairman, while Lee Nak-yon previously led the DPK.

“There can be differences between ourselves,” Lee Nak-yon said. “We will manage the difference wisely and amplify things we have in common.”Lee Nak-yon noted that it is the first time in Korea’s history to have four new political parties form in a short period of time, and it is because of the public’s disappointment in the existing rival parties.“The rival parties were supposed to scrutinize themselves about why the public is disappointed in them,” the former DPK chairman said. “If we let the current politics based on rivalry between Yoon and (DPK Chairman) Lee remain unchanged, the country will deteriorate to a much more serious state than it is now.”On Monday, the party appointed independent Rep. Yang Hyang-ja as its floor leader, former lawmaker Keum Tae-seop, Reps. Kim Jong-min and Cho Eung-cheon as its Supreme Council members.During a radio interview with SBS, Tuesday, Lee Nak-yon said the Reform Party seeks to secure at least 30 National Assembly seats during the April 10 general elections, while Lee Jun-seok said in a separate interview with CBS that “the more (seats) 카지노사이트킹 the better

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Samsung chief visits Malaysia to inspect battery

Samsung Electronics Executive Chairman Lee Jae-yong, left, inspects Samsung SDI’s battery-manufacturing plant in Seremban, Malaysia, on Friday. Courtesy of Samsung Electronics

Samsung Electronics Executive Chairman Lee Jae-yong, left, inspects Samsung SDI’s battery-manufacturing plant in Seremban, Lee Jae-yong, the executive chairman of Samsung Electronics and leader of Samsung Group, visited Malaysia during the Lunar New Year holidays last week to inspect the group’s battery business and provide support and encouragement to employees working abroad during the Korean holiday season, the company said Monday.Samsung said that Lee chose Malaysia as his first overseas destination this year. During his visit, the Samsung chief also visited Kuala Lumpur, the capital of Malaysia, to observe the local IT market, which has become a significant market for Samsung Electronics in Southeast Asia.Samsung SDI, the battery unit of Samsung Group, produces batteries in Seremban, Malaysia. The company is currently operating Plant 1 and has been building Plant 2 since 2022 to meet the growing demand for cylindrical batteries.

“The second plant, which is being built with an investment of 1.7 trillion won ($1.27 billion), is expected to be completed in 2025. From 2024, it will produce Samsung SDI’s PRiMX 2700 cylindrical batteries. These batteries are installed in various products such as power tools and electric vehicles (EVs),” Samsung said.The executive chairman inspected Samsung SDI’s first plant as well as the second plant, which is currently under construction, on Friday. He also had meals with employees there during the holiday season, gave them gifts and listened to their concerns, according to Samsung. Despite achieving record performance with 22.7 trillion won in sales and 1.6 trillion won in operating profits in 2023, Samsung SDI is being affected by the recent slowdown in the global market for power tools and EVs. But Samsung said its battery unit plans to carry out investments for the future without interruption and strengthen its technology development.”We don’t need to be discouraged by difficulties, and we should invest boldly. Let’s not be swayed by short-term results, let’s lead change through bold challenges,” the executive chairman told employees. “Let’s create new value and secure solid competitiveness.”The executive chairman also analyzed the local market’s response in Kuala Lumpur, the largest city in Malaysia, on Saturday.

Malaysia, where Samsung has the largest share in the smartphone market, is increasingly regarded as an important market for the company in Southeast Asia.”The executive chairman visited the largest store in Southeast Asia created in 2022 by Samsung Electronics and the Malaysian retail company Senheng to observe consumers’ responses to IT gadgets,” the company said.The Samsung chief has been visiting overseas business sites during Korea’s various holidays to inspect the business conducted by Samsung in several different markets.During the last Chuseok holiday, Lee visited Samsung Electronics’ R&D Center in Israel, Samsung Electronics’ TV and tablet PC manufacturing plant in Egypt and the site of an underground tunnel construction in Saudi Arabia’s NEOM city being carried out by Samsung C&T.During the 2022 Chuseok holiday, he also visited Samsung Electronics’ home appliance factory in Mexico, Samsung Engineering’s oil refinery construction site and Samsung Electronics’ branch in Panama in 온라인카지노 Central America.

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Netflix series ‘A Killer Paradox’ 

A scene featuring a character named 'Chairman Hyung Sung-guk' from Netflix's Korean original series 'A Killer Paradox' / Courtesy of Netflix

Netflix’s new Korean original series, “A Killer Paradox,” is triggering a backlash online from supporters of main opposition Democratic Party of Korea (DPK) leader Lee Jae-myung, for allegedly portraying a villainous character who reminded audiences of the politician’s physical appearance as well as scandals that occurred while he was running for president in 2022, which were not a part of the original webtoon series.The eight-part crime thriller that hit the over-the-top streaming service Friday revolves around a cat-and-mouse scenario between an ordinary college student who accidentally kills a serial killer, played by Choi Woo-shik, and a dutiful detective, played by Son Suk-ku. It is based on the webtoon series of the same name by Kkomabi, a webtoonist.

In episode seven, a character named Chairman Hyung Sung-guk appears, who, according to some, highly resembles the current DPK leader.Hyung, a construction company owner who takes advantage of his connections to various gangs as well as high-ranking government officials, wields a large amount of influence and corrupts those in his way, “astonishingly, he resembles Lee in appearance,” a viewer pointed out online, noting how the character has a similar face as Lee and Lee and Hyung both wear black-framed glasses and have white slicked backed hair.Lee’s supporters also say that the series added some details about the character that immediately reminded viewers of Lee.

Notably, the scene where Hyung eats sushi while in prison due to tax evasion, embezzlement and bribery charges linked to a land redevelopment project reminded viewers of the scandal that surfaced during Lee’s 2022 presidential campaign.At the time, when Lee was the governor of Gyeonggi Province, it was alleged that Lee’s wife inappropriately used the provincial government’s credit card to buy sushi, beef and other expensive items.Also, Hyung’s prison number 4421 corresponds to the 442.1 billion won ($331.9 million) earned by a construction company from the lucrative Daejang-dong land development project in Seongnam, Gyeonggi Province, while Lee served as the city’s mayor. It has been alleged that Lee gave favors to specific developers for the project.The sushi scene and the prison number did not appear in the original webcomic.However, Netflix said the assumptions are “groundless” and denied any connection between the character and the 스포츠토토존 DPK leader.

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Paradise Co Nov casino rev top US$43mln, down sequentially

Paradise Co Ltd, an operator in South Korea of foreigner-only gaming venues, reported casino revenue of nearly KRW56.59 billion (US$43.3 million) for November, down 6.2 percent sequentially, according to a Friday filing to the Korea Exchange.

The November casino revenue tally was up 43.8 percent from a year ago, when Paradise Co’s casino revenue stood at KRW39.35 billion.

This November’s table game revenue was approximately KRW52.11 billion, down 7.8 percent from October, but up 46.1 percent from a year ago. Machine game revenue last month was KRW4.48 billion, up 17.7 percent from October, and a 21.6-percent increase from November 2022.

No commentary on the reasons for revenue fluctuations is given in the company’s monthly updates.

The November result took Paradise Co’s calendar-year casino revenue to nearly KRW681.38 billion, up 125.0 percent on the same period in 2022.

November’s table drop – the amount of cash exchanged by customers for chips at gaming tables – rose by 1.3 percent sequentially, to KRW545.52 billion. Such drop was up 48.6 percent year-on-year.

For the 11 months to November 30, Paradise Co’s table drop was just above KRW5.59 trillion, a rise of 131.6 percent year-on-year.

Paradise Co’s latest casino figures are based on the results of four venues it operates in its casino business division. They are: Walkerhill in Seoul; Jeju Grand on Jeju Island; Busan Casino in the southern port city of Busan; and Paradise City, in Incheon, near the main international airport serving the country’s capital Seoul.

The South Korean casino operator saw its gross gaming revenue recover to pre-Covid-19 levels in the third-quarter, supported by Japanese VIP and mass gaming clients, and further recovery in Chinese VIP play, suggested JP Morgan Securities (Asia Pacific) Ltd in a memo issued in early November.

BY: 바카라사이트

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NagaCorp’s Chen politically savvy: chairman McNally

The chairman of Cambodian casino operator NagaCorp Ltd has described its late founder Chen Lip Keong as a “politically savvy” and “visionary” entrepreneur who took “bold risks when and where others might not go”.

Tim McNally (pictured) made the remarks in response to a GGRAsia request for comment.

Mr Chen’s Friday death was announced on Monday by his Hong Kong-listed company. It has a long-life casino monopoly in the Cambodian capital, Phnom Penh, which it exercises via its NagaWorld complex.

Mr McNally said Mr Chen “brought Naga[Corp] to Cambodia 28 years ago and led the way for a revitalised private sector after years of civil strife and turmoil” in that Southeast Asia nation.

The chairman added, referring latterly to several of the phases of the casino complex: “The landscape of Phnom Penh has completely changed in the past 15 to 20 years, largely due to the investment and nation-building that he promoted through development of NagaWorld 1 and 2.”

He further noted the late founder had “paved the way for others to recognise the potential growth and future prosperity for the country of Cambodia.”

NagaCorp was listed on the Hong Kong bourse in 2006.

Mr McNally stated: “He did so to elevate the profile of Cambodia and to demonstrate to others that the private business sector could succeed in a poor and developing economy.”

The chairman also added a personal touch, expressing his “deepest condolences to the Chen family”.

“I can unhesitatingly say that he had an enormous impact on the economic and social progress of the country,” added Mr McNally. “He leaves with his family and all of us at Naga[Corp] a great legacy and a firm resolve to do better because of his example.”

BY: 카지노사이트

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Macau Legend to sell Laos casino for US$6mln pre-tax gain

Gaming and hotel services firm Macau Legend Development Ltd confirmed it is to dispose of its Savan Legend casino resort (pictured) in Savannakhet, Laos, for what it now says is an “initial” consideration of US$39 million, “subject to adjustment”.

The group stated in a Thursday filing to the Hong Kong Stock Exchange that it expected the gain before tax on the disposal to be “approximately HKD47 million” (US$6.0 million).

This was on the basis that the Laos unit to be disposed of, had unaudited consolidated net liabilities of approximately HKD182 million as of October 31.

The purchaser is a man identified as Shundo Yoshinari, described as “a Japanese citizen currently residing in Japan” and an independent third party.

Macau Legend had said in June it had signed a letter of intent with Mr Yoshinari to sell to him the Savan Legend casino resort for what was described at the time as a consideration of US$45.0 million.

In May 2016, Macau Legend stated it had agreed to pay US$42 million to another party for the right to operate the casino hotel in Laos.

Macau Legend said in its Thursday announcement: “Although the gaming and hotel business in Lao PDR [People’s Democratic Republic] was profit-making for the financial year of 2022, its financial performance is unstable and such business is subject to increasingly onerous restraints in Lao PDR, thereby limiting its profitability in the future.”

The Laos unit, MLD Resorts Laos Ltd, registered in the British Virgin Islands, reported a pre-tax profit of just under HKD12.03 million in 2022, compared to a loss of HKD64.03 million in 2021, a period when the business was disrupted by restrictions linked to the Covid-19 pandemic.

Macau Legend said it expected the gain on disposal to “strengthen the cash flow of the group,” allowing it to “enhance its liquidity, and… reallocate more financial resources to its business operation in Macau and for overall future development”.

Macau Legend has business linked to one casino in Macau – Legend Palace at Macau Fisherman’s Wharf – under a so-called services agreement with Macau licensee SJM Holdings Ltd.

In August, Macau Legend reported a first-half net loss of nearly HKD182.5 million, on revenue that fell by 22.7 percent year-on-year, to HKD420.2 million. The half-year loss was an improvement on the HKD485.5-million loss recorded in the first six months of 2022.

BY: 파워볼사이트 추천