Asian gaming service provider Success Dragon International Holdings has reported a 9.2% increase in revenue from its Macau electronic gaming equipment operation for the year ended 31 March 2017, despite a slight 1.63% fall in overall revenue to HK$151.2 million.
Success Dragon’s Macau business raked in HK$130.8 million for the 2017 financial year, up from HK$119.8 million 12 months earlier and now comprising more than 80% of the Group’s total revenue.
“Although the overall slot machine gaming revenue in Macau declined by 3.1% in the calendar year 2016 according to the Macau government’s statistics, with the Group’s heavy emphasis on marketing and cost control the Group’s revenue in this segment still recorded a moderate increase of 9.2% and EBITDA of approximately HK$3.4 million,” it said in a filing to the Hong Kong Stock Exchange.
“Thus, it is proven that the Group’s efforts has contributed to the improved result in this operation.”
Revenue from the Group’s packaged product business fell by 53.5% to HK$15.76 million, while revenue from the provision of management services to greyhound racing track operators in Vietnam brought in HK$4.68 million in the first year of operations.
However, as reported by Inside Asian Gaming on Thursday, Success Dragon this week terminated its agreements with three Vietnamese operators “due to the changes in regulatory environment in Vietnam which make the operating environment for provision of services for racing business more challenging.”
“The Group decided to terminate the agreements with the customers with effect from 28 June 2017,” it said.
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