Shin Hwa World Limited saw gaming revenue rise 14.6 percent year-on-year in the first half of 2026, although the segment continued to operate at a loss and recorded a wider deficit.
Gaming revenue reached HK$71.0 million ($9.1 million) during the six months ended June 30th, up from HK$62.0 million ($7.9 million) in the same period last year, according to interim results filed with the Hong Kong Stock Exchange on Friday.
The operator attributed the increase to higher non-rolling volumes but did not provide figures for rolling or non-rolling play, gaming drop or hold rates.
Despite the revenue increase, the gaming segment’s loss widened to HK$66.4 million ($8.5 million), compared with HK$59.6 million ($7.6 million) in the first half of 2025.
Shin Hwa World operates Jeju Shinhwa World in South Korea, including the foreigners-only Les A Casino, formerly known as Landing Casino.
The casino has 179 gaming tables and 65 slot machines and electronic gaming devices across approximately 5,500 square meters of gaming space.
At the group level, consolidated revenue rose 17.8 percent year-on-year to HK$483.5 million ($62.0 million), with non-gaming revenue accounting for HK$412.5 million ($52.9 million).
Loss attributable to shareholders narrowed by 72.1 percent to HK$68.3 million ($8.8 million), from HK$244.4 million ($31.3 million) a year earlier. The final result was near the upper end of the 60 percent to 75 percent reduction previously indicated by the company.
The improvement was supported by higher integrated resort revenue, a HK$40.3 million ($5.2 million) fair-value gain on investment properties and a HK$57.2 million ($7.3 million) refund of withholding tax paid in previous years.
The tax refund followed an April ruling by South Korea’s Supreme Court canceling tax imposed by the country’s National Tax Service. The tax was related to a 2017 share transfer transaction and had been imposed in 2021.
Revenue from the integrated resort segment, excluding gaming, increased 20.9 percent to HK$362.6 million ($46.5 million). Its segment loss narrowed to HK$15.9 million ($2.0 million), from HK$130.0 million ($16.7 million) in the prior-year period.
Shin Hwa World attributed the improvement to its sales and marketing strategy, facility enhancements and an increase in the number of tourists visiting Jeju during the first half of the year.
