Trading of LET Group shares on the Hong Kong Stock Exchange remains suspended as the company has yet to fulfill all resumption requirements. These include releasing its 2023 annual results and the absence of independent non-executive directors on the company’s board.
The suspension of trading has been in place since February 14th, 2024.
In a recent update submitted to the Hong Kong Stock Exchange on Thursday, LET Group confirmed that its day-to-day operations continue to run smoothly, although preparatory work for the 2023 financial audit is still ongoing. Meanwhile, the three independent non-executive directors appointed last year resigned in November, and the company has yet to appoint replacements.
Regarding its Westside City project in the Philippines, LET Group noted that construction is progressing according to plan. More contractors are expected to be hired in the coming months to ensure the casino’s expected opening in 2025.
According to the previous disclosures, the company anticipates the project will open in the first quarter of 2025.
However, the hotel and gaming operations at Tigre de Cristal in Russia continue to face significant challenges due to the ongoing Russia-Ukraine conflict and the resulting sanctions imposed on Russia. The group had previously announced its intention to divest of its Russian assets in a move to consolidate its operations.
LET Group is also actively working to divest its non-core property development projects in Niseko and Miyako Island, Japan. Despite ongoing efforts, the company has not yet secured a buyer.
