Shin Hwa World Limited, operator of Korea’s Jeju Shinhwa World integrated resort, has issued a profit alert on an expected reduction in loss by between 20% and 35% for the financial year ended 31 December 2025.
In a filing, the company said its expected decrease in consolidated net loss is mainly attributable to a decline in operating expenses due to the absence of certain non-recurring expenses; the decrease in amortization and depreciation; and the increase in fair value of investment properties.
It is, however, still in the course of assessing the impairment loss on intangible assets.
“Taking into account the possible impairment on intangible assets that may need to be recognised, it is anticipated that there was a reduction of approximately 20% to 35% in consolidated net loss for the year as compared with the previous financial year ended 31 December 2024,” the company explained.
Jeju Shinhwa World incorporates four luxury hotels with a combined 2,000 rooms, a casino covering 5,500 square meters of gaming space, a number of theme parks and almost 12,200 square meters of MICE space.
The resort last year announced a rebranding of its casino, formerly known as Landing Casino, to “LES A Casino”, which it said reflected the company’s ambition to strengthen its services and business capabilities.
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