China Star Ent posts 18H1 profit on LKF disposal

China Star Entertainment, the former operator of Hotel Lan Kwai Fong Macau, swung to a positive profit of HK$1.1 billion in the first half of 2018, due mainly to gains from disposal of its gaming business.

Last year, Success Universe announced it will be disposing of its entire equity interest in Charming Era Investment, Exceptional Gain Profits and Most Famous Enterprises and their respective subsidiaries for approximately HK$1.46 billion ($186 million), which represented its gaming and hotel business.

Hotel Lan Kwai Fong was acquired by former Macau lawmaker Chan Meng Kam.

After exiting the gaming business, Success Universe is now solely focused on its film related business operations and property development and investment operations.