A profits warning has been issued by Rich Goldman Holdings Ltd – formerly the Neptune Group – a Hong Kong-based investment holding company mainly involved in gaming and entertainment, notably junkets to Macau.

Rich Goldman

It is now expecting to make a loss for the financial year ending June 30, 2020, compared with a profit for last year.

The group attributes the financial situation it faces on the decrease in revenue following a fall-off in junket operations over the past few months, plus a decline in revenue from its hotel operation.

It blames the social unrest in Hong Kong and the Covid-19 pandemic as affecting both the junkets and hotels businesses.