Hong Kong’s Rich Goldman sees €2.12 million losses in 2nd half of 2023

Jenny Ortiz 1 month ago
Hong Kong’s Rich Goldman sees €2.12 million losses in 2nd half of 2023

Rich Goldman Holdings Limited, a Hong Kong-based junket operator, said it is expecting to lose about HK$18 million (€2.12 million) for the second half of 2023.

The financial outcomes for the specified period represented a notable deviation from the profit of roughly HK$79,000 (€9,330) documented during the same period in 2022.

Moreover, the total comprehensive loss attributed to the company’s owners for the 2023 Interim Period is projected to be about HK$13 million (€1.48 million), in contrast to approximately HK$19 million (€2.22 million) for the 2022 Interim Period.

Rich Goldman records rise in revenue but incurs significant loss

Meanwhile, the company said that despite a rise in revenue to approximately HK$63 million (€7.4 million) for the 2023 Interim Period, marking an increase of roughly HK$18 million (€2.12 million) from the previous year, Rich Goldman incurred a significant loss.

This was primarily due to heightened provisions for impairment and write-off of loans and interest receivables, along with increased impairment losses on the group’s held properties.

Possibility of exiting the gaming industry raised

Before China’s crackdown on the junket business in the region, Rich Goldman was formerly known as Neptune Group which operated various VIP rooms in Macau.

The company had previously indicated its contemplation of exiting the gaming and entertainment industry, citing a focus on other business segments due to the allocation of its current resources.

SiGMA Eurasia and SiGMA Africa – less than a month away

With less than a month until the highly anticipated SiGMA Africa event kicks off in Cape Town, South Africa on the 11th of March, the gaming industry is abuzz with excitement. Building on the success of its inaugural edition in Nairobi, Kenya, in January 2023, SiGMA Africa is strategically positioning itself at the forefront of Africa’s burgeoning gaming landscape. With the continent’s market poised for exponential growth, driven by a rapidly evolving digital ecosystem and increasing mobile connectivity, SiGMA Group recognizes the need to foster collaboration and innovation within the industry. By bringing together leading stakeholders and visionaries in gaming, SiGMA aims to catalyse progress and propel Africa towards a new era of prosperity and opportunity. As the countdown to the event begins, anticipation mounts for what promises to be a landmark gathering of gaming enthusiasts and innovators in the vibrant city of Cape Town.

The fourth edition of SiGMA Eurasia will once again be held at the InterContinental Dubai Festival City. Held between the 25 and 27 February 2024, the summit provides invaluable opportunities for attendees to network with industry professionals, gain exposure to the latest tech and innovations in the sector, meet key decision makers, and gain insight into new markets.

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