16 Sep
2019

Rich Goldman doubles profit as all business segments rise in 1H19

first_img Galaxy offers first glimpse of new Galaxy Macau convention center ahead of 2021 launch Revenue from the gaming business grew by 1% over the course of the six months to HK$48.2 million, with the company adding that it had also collected HK$22 million of the HK$50 million owed to it by business partners during that period.Money lent through the money lending business increased from HK$252 million to HK$313 million, with revenue subsequently doubling from HK$4.9 million to HK$9.8 million.Hotel operations also saw turnover grow 8.4% to HK$12.6 million and profit by 34.7% to HK$4.1 million‘Looking forward, our group will continue our policy to expand those profitable existing businesses while continue to explore other viable investment opportunities to diversify our revenue stream and ensure sustainable growth,” Rich Goldman said.“We are optimistic about the market conditions of our existing involved segments in the future with the completion of remarkable infrastructure projects during 2018, which enhances the visits and connection between the cities in the Greater Bay Area region.” Macau gaming investor Rich Goldman Holdings has enjoyed a 97.3% increase in profit attributable to owners of the company to HK$14.4 million for the six months to 31 December 2018 after enjoying increases across all three core business segments.Rich Goldman operates Neptune GD VIP Club with eight gaming tables at Grand Lisboa, having had two promotion agreements to run VIP Clubs at the Venetian Macao and Sands Macao terminated in 2017. It is also involved in hotel operations, having purchased Harbour Bay Hotel in Hong Kong two years ago, and money lending. Macau GGR tumbles 8.6% in August Load More RelatedPosts JW Marriott at Galaxy Macau named venue and Galaxy Entertainment Group named Venue Sponsor for 2019 Asian Gaming Power 50 Black Tie Gala Dinnerlast_img

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