Macau casino investor Amax International Holdings Ltd. says it expects to record an “obvious” increase in loss for the year ended March 31, 2017 when compared with a net loss of HK$43.1 million (US$5.5 million) in the previous year.
According to a company filing to the Hong Kong Stock Exchange on Friday, the increase in loss is attributable to a provision for impairment loss on amounts due from Greek Mythology (Macau) Entertainment Group Corporation Limited; provision for impairment loss on fair value of Greek Mythology in the amount of HK$837.6 million; and provision for impairment loss on fair value of the gaming license for the gaming business in Vanuatu amounting to HK$39.6 million.
Amax International Holdings Limited is principally engaged in investments in gaming and entertainment related businesses, positioned for high-end leisure & entertainment consumption.
It currently owns 24.8 percent equity interest in Greek Mythology Casino, located in Taipa, Macau.
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