Suncity expecting 18H1 widened loss

Junket operator Suncity Group Holdings says it expects to record a ‘significant increase in loss’  for the six months ended June 30, 2018, compared to the prior year period.

Suncity said the increase in loss is “mainly attributable to the increase in loss of approximately RMB 944.1 million  (US$137.2 million) in respect of the change in fair value of the derivative component of the convertible bonds.”

Suncity recorded a loss of RMB1.1 billion in the prior year period.