Hong Kong-listed Landing International Development has warned of increased net loss for the year to December 31, 2016.
The company attributes the rise in loss to “a change in fair value of financial assets at fair value through profit or loss; an increase in administrative expenses, incurred in the construction and pre-opening stages of the integrated resort development and property development; and an increase in other operating and administrative expenses due to expansion of the group.”
Landing International Development recently announced the full acquisition of foreigner-only casino Jeju Shinhwa World project, previously known as Resorts World Jeju.
The company’s annual results announcement for the year 2016 is expected to be published by late March.
Source: Asia Gaming Brief
