Hong Kong-listed casino developer Shin Hwa World Ltd has announced a series of capital reorganization measures, including plans to raise HK$263.7 million ($39.6 million) via a rights issue.

South Korean gaming operator Shin Hwa World Limited has released its financial results for the year ending December 31, 2023, revealing a substantial decrease in consolidated revenue.

South Korean gaming operator Shin Hwa World has experienced a 27 percent decrease in gaming revenue during 1H23, dropping from HK$32.6 million ($4.2 million) in 1H22 to HK$23.8 million ($3 million).

Net losses recorded by South Korean gaming operator Shin Hwa World are expected to continue to expand in the first half of this year, the group announced, mainly due to increased competition and domestic tourists now being able to travel abroad following the easing of travel restrictions

Korean foreigner-only casino operator Shin Hwa World has announced that its Chairman of the Board, Dr. Yang Zhihui, is retiring from the position, as well as from his Executive Director role.

South Korean gaming operator Shin Hwa World has announced that it was successful in narrowing its loss for last year, registering a HK$216.91 million ($27.63 million) loss, as compared to a HK$1.05 billion ($134.4 million) loss in 2021.

Landing International Development is planning a name change to further realign its image and focus on its Jeju Shinhwa World integrated resort.

Shareholders of Landing International Development have officially approved the company’s name change to Shin Hwa World Limited.

Landing Group posted a 45.1 percent increase in revenue on increased domestic demand, narrowing Jeju Shinhwa World’s casino loss for 2H2022.

Jeju Trade Unions on Tuesday reportedly held a press conference in front of the Jeju Provincial Office urging the Shinhwa World Casino to stop the mass layoff of its casino workers.