CASINO

Jimei International achieves 1H turnaround

TAGs: Aricle, Dr. Lam Yin Lok, jimei group, NagaCorp

Jimei International achieves 1H turnaround Asian junket operator Jimei Group posted a profit in the first half of 2015 after recording a HKD8.3 million ($1m) loss in H1 2014.

Jimei International Entertainment Group Limited has recorded a net profit of HKD52.8 million ($6.8m) in H1, mainly driven by profit contributions from its new relationship with Australian casino operator Crown Resorts.

Jimei generated revenue of HKD112.4 million ($14.5m) revenue in H1, up 127% year-on-year growth, and gross profit of HKD60.6 million ($7.8m).

This year, Jimei has tapped the gaming promotion business in Western Australia and the Kingdom of Cambodia. The junket group has entered into an agreement to steer VIP gamblers to approximately eight to ten gaming tables in Crown Perth.

Jimei reached a similar deal in May with NagaCorp, which runs the increasingly popular NagaWorld casino in Cambodia’s capital Phnom Penh, where Jimei promotes not less than seven gaming tables.

“Under the leadership of a seasoned and energetic core management team collectively with decades of experience in the global gaming sector, we are committed to further expanding into the fast-growing entertainment and gaming markets, particularly in Asia, in order to bring new momentum and income sources to the Group,” said Jimei Executive Director Dr. Lam Yin Lok. “With the accomplishments during the first half of 2015, we have full confidence to further strengthen our foothold in the entertainment and gaming industry with an aim to create long-term sustainable returns to our shareholders.”

In July, Jimei paid HK$11,600,000 ($1.5m) for an apartment in Burswood, a suburb of Perth, that will serve as staff quarters for catering to the Group’s expanding gaming promotion business in Western Australia.

Jimei Group said that it will continue to explore the possibility of further extending its business into the entertainment and gaming market to broaden its income sources.

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