• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 29 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Revenue falls but profit rises for Rich Goldman after junket terminations

Newsdesk by Newsdesk
Mon 24 Sep 2018 at 05:54
Print Friendly, PDF & Email

Macau junket investor Rich Goldman Holdings, formerly known as Neptune Group, saw its profit attributable to owners of the company climb to HK$39.0 million in the 12 months to 30 June 2018, turning around a HK$10.2 million loss the previous year.

The positive result came despite a 56.0% decline in revenue to HK$130.5 million due to the termination of two key junket agreements with Venetian Macao Limited (VML). Announcing its 2018 financial results on Friday, Rich Goldman said that the improved profit was due to growth in its money lending and hotel operations business segments, a HK$42 million reversal of impairment losses of trade receivables in FY2018 and a one-off loss on disposal of an associated company of HK$62.9 million recorded in the previous financial year.

The company revealed in May 2017 that VML had terminated a promotion agreement with Hao Cai Sociedade Unipessoal Ltd to operate 14 VIP tables at the Venetian and in August that VML had terminated a second agreement with Hou Wan Entertainment Ltd to operate 10 VIP tables at Sands Macao. Those terminations left Rich Goldman with just one Macau junket partner, Neptune GD VIP Club, running eight VIP tables at Grand Lisboa.

As a result, the group’s gaming revenue decreased by 69.09% in the 12 months to 30 June 2018 to HK$91.3 million. Neptune GD VIP Club saw its revenue fall 14% for the year to HK$81.0 million.

However, Rich Goldman said it had enjoyed strong results from the expansion of its money lending business, lending a total of HK$263 million compared with HK$65 million in the previous year.

“The resulting interest revenue generated for the year ended 30 June 2018 amounted to approximately HK$15.7 million, a significant advancement when compared to the revenue of HK$1.1 million generated for the year ended 30 June 2017,” the company said. “It is an encouraging expansion and a great achievement for a newly established segment. Our customers are all renowned for their great creditability and are also effectively managed by our management. Therefore, all of the principal and interest income had been collected in accordance with their corresponding repayment schedules during the year.”

Rich Goldman also saw improved revenue from its hotel operations business, having purchased Harbour Bay Hotel in Hong Kong in 2017. Revenue from the hotel grew 30% in FY18 to HK$23.5 million.

RelatedPosts

Sands China celebrates 1.1 billion cumulative visitors to its Macau resorts

Sands China celebrates 1.1 billion cumulative visitors to its Macau resorts

Thu 28 Aug 2025 at 19:09
IAG names Grand Lisboa Palace Resort Macau as venue and SJM Resorts S.A. as Venue Sponsor for 2025 Power 50 Black Tie Gala Dinner

SJM reports widened 1H25 loss despite GGR growing almost 12% to US$1.90 billion

Thu 28 Aug 2025 at 18:54
Capital Punishment

SJM to relocate satellite casino gaming tables, slot machines to Macau’s famous Hotel Lisboa as part of US$68 million deal with parent company STDM

Thu 28 Aug 2025 at 17:35
Asia market roundup

Asia market roundup

Thu 28 Aug 2025 at 12:26
Load More
Tags: junket investorMacauNeptuneRich GoldmanRich Goldman Holdings
Share15Share
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Australia’s Star Entertainment Group says available cash halved in December 2024 quarter as liquidity crunch bites again

Star Entertainment Group falls to AU$471.5 million loss in FY25 as remediation, regulatory hurdles continue to bite

by Ben Blaschke
Fri 29 Aug 2025 at 07:38

Australia’s Star Entertainment Group has reported a statutory loss of AU$471.5 million (US$308 million) for the financial year ended 30 June 2025, impacted by a 29% year-on-year decline in group-wide revenue including a 37% fall in gaming revenue. Although the...

Resorts World Las Vegas – Lighting up the north

Recovery of VIP gaming business helps Genting’s Resorts World Las Vegas book improved revenues of US$180 million in 2Q25

by Ben Blaschke
Fri 29 Aug 2025 at 05:30

Resorts World Las Vegas (RWLV), the US flagship of Malaysian gaming giant Genting Berhad, saw revenues grow by 8% quarter-on-quarter to US$180 million and EBITDA by 80% to US$18 million in 2Q25, with the company pointing to improved hold and...

Asia market roundup

Higher business volumes, margins at Resorts World Genting drive improved 2Q25 results for Genting Malaysia

by Ben Blaschke
Fri 29 Aug 2025 at 05:09

Genting Malaysia reported group-wide revenue of MYR2.92 billion (US$692 million) in the three months to 30 June 2025, up 9% year-on-year thanks to improvements across all regions including a 10% increase in revenue at flagship Resorts World Genting (RWG) in...

Sands China celebrates 1.1 billion cumulative visitors to its Macau resorts

Sands China celebrates 1.1 billion cumulative visitors to its Macau resorts

by Pierce Chan
Thu 28 Aug 2025 at 19:09

Sands China has now welcomed more than 1.1 billion guests across its Macau integrated resorts, representing a significant milestone in its more than 20-year history operating in Macau, the company stated Thursday. In an announcement that also coincided with the...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English