Zhitong Finance App News, International Entertainment (01009) announced that the Group expects to obtain losses attributable to the company owner of about HK$36.1 million in the six months ending December 31, 2023, and losses attributable to the company owner of about HK$6.4 million in the six months ending December 31, 2022.
The increase in losses was mainly due to the net impact of the following factors: due to the recovery of the gaming industry in the Philippines in the first half of 2022, the Group's revenue from gaming operations increased by about HK$11.7 million; due to expected improvements in future cash flow, the fair value income from investment properties was approximately HK$7.1 million during the period, while the fair value loss was approximately HK$16 million in the previous period; due to the Group's preparations to operate and manage the casino under a temporary license granted on September 27, 2023 (such as legal and professional fees, staff costs, etc.), general and administrative expenses increased by about HK$38.5 million; since the Group obtained bank loans of about HK$608.9 million to meet the capital requirements for the development, operation and management of the casino under the temporary license granted on September 27, 2023, bank loan interest increased by approximately HK$10.5 million; and net exchange losses increased by approximately HK$11.9 million.