Success Dragon International, the Hong Kong-listed gaming machine company, has seen a slight improvement, albeit still a losing one, in its gaming machine business. It has reported a loss in the 
segment, as well as its total first-half performance, for the period that ended September 20. However, it was less of a loss than what was seen in the same period last year.
The first-half revenue from managing electronic gaming machines, which is the entirety of its revenue for the period, was $5.58 million. This was a 28% decrease over what it reported for the period last year, $7.714 million. The loss during the period last year was $1.17 million, but was only $833,149 in the most recent six-month reporting period.
The decrease in revenue was due to “intense competition in the Macau gaming market,” combined with last year’s pull out from the Landmark Macau casino hotel. That resort was sold by Macau Legend Development in April 2017 and is now known as the New Orient Landmark Hotel.
Group-wide, Success Dragon reported losses of $1.73 million for the period, which was an improvement of 53% over the loss of $3.65 million seen during the same period in 2017. It added that it will focus on the management of electronic gaming machines in order to improve its numbers and will take a “cautious” approach in bringing operating costs under control.
At the end of October, Success Dragon announced a name change that was designed to better reflect its growing business. The company is moving into FinTech and blockchain technologies and is expected to be known as “ezBlock Capital International Holdings Limited” if the name change is approved.
Success Dragon added in its latest filing, “The group wishes to form strategic partnership with and invest tactically into leading fintech companies,” and wants to “realign its resources in rebuilding its information technology services business.” It further indicated that it saw potential in using blockchain technology in order to “complement or diversify” its portfolio.
This past September, the company wrapped up a share placement that it had hoped would see it bring in as much as $12.4 million. However, by the time the period closed, only $8.8 million had been attracted.
