South Korea casino resort operator Landing International Development Ltd said its net loss for full-year 2020 was approximately HKD2.12 billion (US$272.0 million), slightly narrowed from the net loss at HKD2.13 billion in 2019, according to its annual results filed on Thursday.
Hong Kong-listed Landing International developed and operates the Jeju Shinhwa World resort (pictured in a file photo) and its foreigner-only gaming facility, Landing Casino, on the South Korean island of Jeju. The parent firm also develops property.
The firm said the slightly-narrowed annual loss was thanks to factors including cutting operating expenses and “employee-benefit expenses”.
The firm’s consolidated revenue for 2020 was HKD788.01 million, a year-on-year decline of 3.4 percent, linked to fewer visitors to Landing Casino amid the Covid-19 pandemic, and lower property sales.
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Prime Suspect
In a statement to investors, executive director of Landing International Development Ltd.
Wong Hoi Po said police had been asked to track down a female Malaysian employee who was responsible for the cash. The employee has apparently been on holiday since the end of last year.
According to police, the surveillance footage of the theft had been erased, but they were continuing to track the whereabouts of the cash.
A total of â©14.56 billion had been taken away over a period of seven to eight months.
The
Korea Times reported that the casino had allegedly not noticed the theft, due to the large amount of cash already stored within the safe.