Landing International has informed its shareholders that it expects to record a net loss for the six months ended June 30, due in part to a decrease in gaming revenue.
Landing is a developer and operator of an iconic world-class integrated leisure and entertainment resort, offering various facilities, including casinos, luxurious hotels, exhibition centers, theme parks, attractions, international catering, spaces for retail business and property development.
It is the owner and operator of Jeju Shinhwa World in South Korea.
Landing said the net loss is attributable to a decrease in net revenue from its gaming business; a decrease in revenue from sales of residential properties; a decrease in interest income and increase in finance costs; and an increase in amortization and depreciation charges due to the progressive opening of various facilities in Jeju Shinhwa World.
Landing posted a widened loss of HK$701.5 million (US$89.4 million) in 2018.