Gelonghui, September 9 | International Entertainment (01009.HK) announced that, according to currently available information and a preliminary review of the Group's unaudited comprehensive management accounts for the financial year ended June 30, 2024, the Group may have recorded a loss attributable to the company owner of not less than HK$0.135 billion in the expected year, while the financial year ended June 30, 2023 (the “previous year”) recorded a profit attributable to the company owner of approximately HK$18.3 million.
The net loss attributable to the company's owners is expected to be recorded mainly due to the following factors: (i) an increase of approximately HK$0.127 billion in general and administrative expenses, including annual one-time expenses of approximately HK$40.9 million due to the Group being granted a temporary license (“Provisional License”) by the Philippine Entertainment and Gaming Company on September 27, 2023 (the “Provisional License”) to establish and operate a casino and develop an integrated resort in Manila, Philippines; (ii) the Group's annual bank loan interest due to the establishment and operation of a casino and integrated resort development under the temporary license Expenses increased by approximately HK$37.4 million; (iii) Annual net exchange loss increased.
