After posting a net loss of $21.8 million for the first half of last year, Hong Kong-listed casino operator Imperial Pacific International Holdings Limited has revealed that it expects to record an overall profit for the initial six months of 2016.
Imperial Pacific International Holdings Limited is responsible via its Best Sunshine International subsidiary for the Best Sunshine Live casino on the Pacific Ocean island of Saipan and declared in May that VIP gaming operations at the temporary facility had reached saturation.
According to a report from GGRAsia, Imperial Pacific International Holdings Limited opened the Best Sunshine Live casino in November offering 16 VIP gaming tables alongside 32 mass-market counterparts. The development in the Commonwealth Of The Northern Mariana Islands has since been bringing in average monthly rolling chip volumes of around $2.17 billion with a record-setting $3.19 billion seen in April.
“The expected turnaround from loss to profit is mainly attributable to the operating profits generated by the temporary casino on the Island of Saipan,” read a statement from Pacific International Holdings Limited filed with the Hong Kong Stock Exchange on Monday.
Imperial Pacific International Holdings Limited, which will publish its full half-year financial results on August 22, secured an exclusive casino license for Saipan in August of 2015 and subsequently spent $25 million to open the temporary Best Sunshine Live facility. It is investing some $500 million to construct The Grand Mariana Casino And Hotel Resort on the island and expects this more permanent 350-room development to open early next year offering more than 400 slots and 200 gaming tables alongside 15 private villas, several restaurants and a nightclub.