Hong Kong-listed gaming and hospitality investor Rich Goldman Holdings has reported a net loss of HK$18.9 million for the six months to 31 December 2020, impacted by COVID-19 and the loss if its junket operations in Macau.
Rich Goldman operates in four principal segments: Gaming and Entertainment, Money Lending, Hotel Operations, and Property Leasing.
According to a Friday filing, revenue for the period declined 45.5% year-on-year to HK$19.2 million – largely due to the cessation last April of a collaboration contract for a VIP room at Grand Lisboa in Macau. As a result, there was no revenue generated from the Gaming and Entertainment Business for the six months to 31 December 2020 compared to revenue of HK$18.5 million in the same period in 2019.
The company has, however, launched a new junket business in the Philippines since 1 January 2021 via a junket partner at Solaire Resort & Casino.
Rich Goldman reported a slight increase in money loaned out from its money lending business through December, generating interest income of HK$16.1 million.
The Group recorded a loss before taxation from the hotel operations business of HK$22.2 million and a loss from the property leasing business of HK$5.7 million.
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