Former junket investor Rich Goldman Holdings said Tuesday it expects to post a net loss of up to HK$105 million ($13.5 million) for the year ended June 30th, 2025, more than double the HK$49 million ($6.3 million) loss recorded a year earlier.
The casino services and property investment group said the widened deficit was mainly due to higher impairment losses on its properties, which rose about HK$45 million ($5.8 million) year-on-year, as well as a HK$10 million ($1.3 million) increase in fair value losses on investment properties.
The company also booked an additional HK$3 million ($385,000) in provisions for impaired or written-off loans and interest receivables. These were partly offset by a HK$2 million ($257,000) gain from the disposal of a subsidiary.
All of the impairments and valuation losses were non-cash items with no impact on operating cash flow, the firm said in a stock exchange filing.
Rich Goldman noted that the figures were based on unaudited management accounts and the final results, due in late September, may differ.
The company urged shareholders and potential investors to exercise caution when dealing in its shares.
