Glonghui, January 17, 丨 Bonghua Pacific (01076.HK) announced that for the six months ended June 30, 2022, the self-operated Bowers Palace Saipan did not generate any revenue. For the six months ended June 30, 2022, losses attributable to company holders were approximately HK$487 million, compared with losses attributable to holders of approximately HK$359 million last year. Basic and diluted losses per share were HK 0.35 cents and HK 0.35 cents respectively, while basic and diluted losses per share were HK $0.13 and HK 0.13 cents, respectively, in the same period last year.
The Imperial Palace Saipan is located on the seafront in downtown Garapan. After completion, in addition to 193 gaming tables and 365 slots, the Bowers Saipan Resort will have 10 Michelin-starred restaurants and 329 hotel rooms and 15 villas.
Most of the casino's VIP customers come from the Group's own marketing channels. These high-spending VIP customers generally receive commissions and allowances as a percentage of transcoded turnover. Allowances can be used to cover expenses arising from hotel rooms, meals and other customer-related discretionary expenses. Intensive marketing activities have also brought VIP customers to the Group.
In line with the measures taken by the local government, the casino under Imperial Palace Saipan has suspended operations since March 17, 2020 to curb the spread of COVID-19. As a result, no revenue was generated from the VIP gaming business during the period.