Macau labor

Junket investor Rich Goldman is expecting to record a comprehensive loss of some HK$18 million ($2.29 million) for the six month period ended December 31st, 2022, despite seeing a 66 percent uptick in revenue during the period, to HK$45 million ($5.74 million).

The group operates a money lending business and hotel operations (based in Hong Kong), as well as property leasing in Hong Kong and Shanghai.

The group previously operated junkets in Macau and the Philippines, but has suspended all of its gaming-related activity since last year, as it waits ‘until there is a fundamental improvement in the operating environment’.

In January of 2022, Rich Goldman terminated its profit-sharing agreement for a VIP room at Solaire Resort and Casino in the Philippines, citing a challenging operating environment and intense competition.

The junket investor began introducing customers to the VIP room at Solaire at the start of 2021 after completing a profit sharing agreement with its joint venture partner, an independent third party, Great Happy Century.