Monday, August 08, 2022

Rich Goldman posts 26.3% net profit decline


Rich Goldman Holdings Limited posted a 26.3 percent fall in net profit for the 2019 financial year, due mainly to a decrease in the group’s gaming revenue.

Said net profit reached fell to HK$91.6 million (US$11.7 million), down from HK$124.4 million. 

Rich Goldman said the reduction in gaming revenue was due to the termination of the gaming promotion agreement between Venetian Macau Limited and its junket operator in 2017, leaving only 8 VIP tables in the Grand Lisboa casino as the only remaining junket business of the group. 

Gaming revenue fell 18.9 percent to HK$74.1 million in the financial year. 

The company also runs a money lending business, hotel operation business, and property leasing business. 

The three business streams generated solid growth in the financial year, and the company said it aims to continue to develop these diversified income streams. 

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

3rd party / Cookies
Show settings
Contact us

ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief