South Korean integrated resort operator Shin Hwa World has announced that it is expecting to see an increase in its loss of up to 12 percent for the first half of the year, amongst drops in its gaming revenue.
According to a Monday filing with the Hong Kong Stock Exchange, Shin Hwa World, operator of the Jeju Shinhwa integrated resort which includes the Landing Casino, noted that there was ‘pressure on room price and dampened customer spending’ from its integrated resort and gaming segment.
It also saw a decrease in fair value of its investment properties compared to the same period in 2024.
The group noted that it is ‘still in the course of assessing the impairment loss on intangible assets’.
This comes after the group reported a 5.4 percent increase in loss for 2024, totaling HK$484.14 million ($65.53 million). This was despite a 3.7 percent yearly increase in consolidated revenue during FY24, to HK$1.07 billion ($137.94 million). Gaming revenue during the period was up by 350 percent, to HK$210.28 million ($27 million).
